CALAPAN CITY, Oriental Mindoro (PIA) – The overall inflation in Oriental Mindoro slowed down to 8.8 percent in May 2023 from 9.6 percent in April 2023 as reported by the Philippine Statistics Authority (PSA) Mimaropa Inflation Press Conference held on June 16.
Philippine Statistics Authority (PSA) Chief Statistical Specialist Efren C. Armonia noted that the downward trend of the overall inflation in the province during the month of May was mainly brought about by the annual decline in the index of transport at -3.8 percent from 1.9 percent in April.
Another contributing factor to the downward trend are index for housing, water, electricity, gas and other fuels with a lower inflation rate of 10.6 percent from 11.4 percent in the previous month.
The third main source in the slowdown of the inflation was restaurants and accommodation services, which recorded a 13.5 percent inflation rate from 14.0 percent in April.
Armonia stated in the conference that additional contributing factors to the lowered inflation are commodity groups which fall under alcoholic beverages and tobacco at 12.7 percent from 12.9 percent; clothing and footwear with 11.7 percent from 12.2 percent; and personal care, miscellaneous goods and services with 6.7 percent from 6.8%.
In contrast, higher inflation rates were observed in the following categories: furnishings, household equipment and routine household maintenance at 11.0 percent; health at 6.5 percent; and recreation, sports and culture at 5.3 percent compared with April 2023 rates of 9.9 percent, 6.1 percent, and 4.9 percent, respectively.
Armonia further said that food and non-alcoholic beverages; information and communication; and education services retained their corresponding previous month’s annual increments at 10.9 percent, 1.7 percent, and 1.8 percent. The annual rate in the financial services remained at 0 percent.
PSA also highlighted the minor slowdown of food inflation in Oriental Mindoro. Food inflation recorded for the month of May is 11.2 percent from 11.3 percent in April. Contributing factors of the slowdown of food inflation were influenced by the lower annual growth in meat and other parts of slaughtered land animals at -2.3 percent from 4.1 percent in April. This was followed by milk, other dairy products and eggs with an inflation rate of 19.7 percent in May from 22.6 percent in the previous month. The third primary driver of slower food inflation was oils and fats, which recorded a 1.7 percent inflation rate during the month of May from 9.9 percent in April.
Meanwhile, compared with the previous month’s inflation rates, higher year-on-year growth rates were observed in the indices of rice at 20.5 percent from 12.9 percent; flour, bread and other bakery products, pasta products, and other cereals at 8.8 percent from 8.6 percent; fish and other seafood at 10.5 percent from 9.6 percent; and vegetables, tubers, plantains, cooking bananas and pulses at 28.3 percent from 26.0 percent. Further, inflation of ready-made food and other food products not mentioned declined at -2.3 percent from -2.6 percent. (JJGS/PIA MIMAROPA – Oriental Mindoro)
