Prices of goods and services continued to rise in the Ilocos region, with inflation accelerating to 9.3 percent in January compared to 8.2 percent a month earlier, according to the regional Philippine Statistics Authority. | jmichaelmgsINQ /PDI
What mainly drove the “accelerated inflation” in the region was the 12.0 percent increase in housing, water, electricity, gas, and other fuels.
The PSA said that food and non-alcoholic beverages, as well as alcoholic beverages and tobacco, also contributed to the overall higher inflation rate, at 11.7 percent and 8.6 percent, respectively. The latest inflation data also showed that food prices also jumped to 12.2 percent in January 2023 from 10.2 percent in the previous month.Higher food inflation in the region was pushed by prices in the subgroup of vegetables, tubers, cooking bananas and pulses which shot up to 55.9 percent in January from 40.2 in the previous month.Prices also went up for milk, other dairy products, and eggs by 13.2 percent from 7.9 percent in December 2022.
The inflation rate, meanwhile, slowed down transport from 9.8 percent to 8.6 percent. A decline was also noted for oils and fats at 18.7 percent from 20.8, and meat at 4.7 percent from 8.4. All the provinces in the region experienced a surge in inflation rates last January, with Ilocos Sur province posting the highest increase at 10.3 percent, up from 7.7 percent during the previous year. Pangasinan followed it, and Ilocos Norte at 10.2 and 7.5 percent, respectively.Your subscription could not be saved. Please try again.
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