ODIONGAN, Romblon (PIA) — The inflation rate of Romblon province remained steady at 4.1 percent in June and July this year, which is the lowest for almost two years, the Philippine Statistics Authority (PSA) announced.
In a press conference on August 14, Engr. Johnny Solis, the Chief Statistical Specialist of PSA Romblon, said that this rate is the second lowest in the MIMAROPA region.
While the PSA’s target inflation range for a stable economy is 2-4 percent, Solis noted that the current rate is still considered favorable, as it is the lowest inflation rate recorded in nearly two years.
He reported a slowdown in the inflation of specific sectors, including restaurants and accommodation services, which decreased to 7.2 percent, and furnishings, household equipment, and routine household maintenance, which slowed to 3.0 percent.
Additionally, the inflation rates for alcoholic beverages and tobacco, as well as transportation, recorded lower levels this month.
Meanwhile, the inflation rates for food and non-alcoholic beverages, clothing and footwear, education services, recreation, sports, culture, and financial services remained constant.
Solis said that the overall stability of Romblon’s inflation is a positive indicator of the province’s economic health. (PJF/PIA MIMAROPA-Romblon)
