CAGAYAN DE ORO CITY (PIA) — Northern Mindanao’s inflation rate for January 2025 increased to 2.9 percent, up by 0.3 percentage points from the previous month’s rate of 2.6 percent, according to the Philippine Statistics Authority (PSA)-10.
PSA-10 Regional Director Janith Aves explained that rising prices in food, non-alcoholic beverages, transport, restaurants, and accommodation services primarily caused the region’s inflation increase.
Food and non-alcoholic beverages experienced an inflation rate of 2.4 percent in January 2025, up from 1.8 percent in December 2024. This increase was mainly due to the higher costs of fish and seafood, vegetables, and meat.
Transport inflation increased to 5.4 percent from 5.0 percent in December 2024.
“The rise was mainly due to gasoline and diesel prices, which changed to -0.3 percent from -2.0 percent and -2.5 percent from -6.4 percent, respectively,” she said.
In restaurants and accommodation services, inflation reached 3.8 percent, an increase from 3.3 percent in the previous month. The rise was mainly attributed to higher prices in restaurants, cafes, and similar establishments, which showed an inflation rate of 3.8 percent, up from 3.2 percent. Hotels, motels, inns, and other accommodation services recorded an inflation rate of 5.1 percent, up from 5.0 percent in December.
The region’s inflation rate in January 2025 mirrored the national inflation rate, which stood at 2.9 percent. However, the inflation rate varied across different areas in Northern Mindanao. Misamis Oriental recorded the highest inflation rate at 5.3 percent, while Lanao del Norte recorded the lowest at 0.6 percent.
Aves stated that these inflationary trends are important for understanding regional economic conditions and will continue to be closely monitored to support informed decisions and policies. (APB/PIA-10)
