CAGAYAN DE ORO CITY (PIA) — Residents in this city are resorting to various strategies to manage their daily expenses amid the rising prices of basic commodities.
Anacito Balansag, a local dragon fruit vendor, emphasized the importance of budgeting and carefully planning purchases. “Ana man gyud na, mag kuan gyud ka kung pila ray mapalit nimo, maabot sa imong kwarta, bahin-bahinon ra gyud na sya kung mag-market,” he said.
(You need to estimate how much you can buy and how far your money will go, it has to be divided when you go to the market.)
As a farmer himself, Balansag has opted for self-sufficiency, planting his own vegetables to mitigate the impact of soaring prices. “Kami nga mga farmer taga bukid murag nasanay naman mi ing-ani karon dagan sa panahon, maningkamot nalang mi, mahal ang panangliton pareha sa mga gulay, maningkamot nalang mi’g tanom,” he shared.
(We’ve grown accustomed to these challenging times and have learned to adapt. For instance, since vegetables are so expensive, we’ll just plant our own.)
Reynante Zaforteza, a broom vendor who also operates a small eatery, echoed the sentiment. To cut costs, he has reduced the amount of spices used in his cooking. “Kanang sama sa panakot, amo na lang gibawas-bawasan ang panakot para maka-save mi gamay,” he explained.
(We reduce the amount of spices we use to save a little.)
The latest inflation report from the Philippine Statistics Authority (PSA) reveals a 5.0 percent increase in the average prices of goods and services in Northern Mindanao, higher by 0.3 percentage point increase from 4.7 percent inflation in May 2024.
PSA-10 Chief Statistical Specialist Sarah Balagbis said that key sectors primarily influenced the latest inflation dynamics in the region.
Food and non-alcoholic beverages recorded an inflation rate of 8.1 percent, accounting for a 70.1 percent share of the overall inflationary pressure.
Balagbis added that inflationary pressures in the Food and Non-Alcoholic Beverages category primarily stemmed from specific food commodities across various subsectors.
Cereals and cereal products recorded an inflation rate of 21.6 percent, primarily influenced by the rising prices of rice, a staple food item in the region. Fruits and Nuts followed closely with a 12.4 percent inflation rate, largely attributed to increased costs of fresh bananas.
Additionally, milk, other dairy products, and eggs experienced a 2.9 percent inflation rate, with powdered milk emerging as a significant contributor to the overall price increase in this category. (MGLY/PIA-10)
