CALAPAN CITY, Oriental Mindoro (PIA) — Oriental Mindoro’s headline inflation, or the overall inflation slowed down further to 1.4 percent in September 2024 from 3.4 percent in August 2024.
Philippine Statistics Authority (PSA) Oriental Mindoro Chief Administrative Officer and Officer-In-Charge, Dr. Charlyn Romero-Cantos, said in the recent press conference held at the PSA Provincial Statistics Office that the overall inflation was brought by the slower annual increment in the index of housing, water, electricity, gas and other fuels.
“The downtrend in the overall inflation in September 2024 was primarily brought about by the slower annual increment in the index of housing, water, electricity, gas, and other fuels at 1.6 percent in September 2024 from 6.4 percent in the previous month,” she said.
Also contributing to the downtrend was food and non-alcoholic beverages with a slower inflation rate of 1.2 percent during the month from a 2.3 percent increase in August 2024.
In addition, transport recorded an annual drop of 3.6 percent during the month from a 0.7 percent decline in August.
Cantos added that the top three commodity groups contributing to the September 2024 overall inflation of the province were the following: food and non-alcoholic beverages with 38.7 percent share, restaurants and accommodation services with 33.2 percent share, and housing, water, electricity, gas, and other fuels with 21.1 percentage share, which are the main contributors to the headline inflation.
Meanwhile, food inflation in Oriental Mindoro eased to 1.1 percent in September from 2.3 percent in the previous month. In September 2023, food inflation was higher at 8.6 percent.
The deceleration of food inflation in September 2024 was primarily brought about by the slower inflation rate of meat and other parts of slaughtered land animals with 8.7 percent in September 2024 from 8.9 percent in the previous month, followed by rice with a slower year-on-year increase of 1.6 percent during the month from 5.6 percent annual increase in September.
Slower annual decrements were also noted during the month in the indices of vegetables, tubers, plantains, cooking bananas, and pulses at 10.8 percent, and sugar, confectionery and desserts at 5.9 percent from their respective year-on-year decreases of 3.0 percent and 4.6 percent in August 2024. (DN/PIA MIMAROPA-Oriental Mindoro)
