Inflation down in all Mindanao regions in December 2018

DAVAO CITY (MindaNews/ 04 Jan) – Inflation rates in all six regions of Mindanao decreased in December 2018, a report released by the Philippine Statistics Authority (PSA) on Friday showed.

The Autonomous Region in Muslim Mindananao (ARMM) registered an inflation rate of 7.5%, the highest among the country’s 17 regions but lower compared to the 7.7% recorded in November 2018.

ARMM comprises the provinces of Basilan, Lanao del Sur, Maguindanao, Sulu and Tawi-Tawi, and the cities of Lamitan and Marawi,

The Caraga region posted the lowest inflation in Mindanao at 4.2%, which is below the national average of 5.1% and the third lowest in the country next to the Cordillera Administrative Region’s 3.4% and Central Luzon’s 4%.

The Davao Region reported a 5.3% inflation rate during the last month of 2018, Soccsksargen 5.6%, Northern Mindanao 5.7%, and Zamboanga Peninsula 6.6%, according to PSA.

This was the second straight month that inflation in all Mindanao regions eased after months of rising prices of basic commodities. In October 2018, only four regions in the island — Davao Region, ARMM, Zamboanga Peninsula and Soccsksargen — showed signs of easing inflation.

The national average decelerated to 5.1% in December from 6% in November 2018, following the slower annual increments in the indices of food and non-alcoholic beverages at 6.7% percent and transport at 4%.

The PSA said lower annual increases in the indices of the following commodity groups were also reported: alcoholic beverages and tobacco, 21.7%; housing, water, electricity, gas and other fuels, 4.1%; furnishing, household equipment and routine maintenance of the house, 3.8%; and restaurant and miscellaneous goods and services, 4.3%.

But it added higher annual mark-ups were noted in the indices clothing and footwear at 2.8% and health at 4.8% during the period. (Antonio L. Colina IV/MindaNews)