Inflation in the Cordillera Region went down by 7.1 percent in February (2023) slightly improved as compared to 7.9 percent in January of this year, according to Philippine Statistics Authority-Cordillera (PSA-CAR) official. The February inflation mark, however remain high as against the 4.3 percent recorded of the same period last year. Inflation is the rate of increase in prices over a given period of time in broad sense the increase in the cost of living.

According to PSA-CAR, the downtrend of inflation is mainly due to the decrease in the index of food (measures the retail price s of food items) and non-alcoholic beverages at 10.1 percent from 11.4 percent in January (2023). Followed by transport at 13.5 percent, and 16.3 percent and alcoholic beverages and tobacco at 9.5 percent from 9.6 percent in the previous month. In Benguet,
Imelda Buyuccan, Chief Statistical Specialist of PSA-CAR, the province’ inflation rate also decreased to 6.4 percent (Feb 2023) from 6.9 percent in January this year.

However, increase of rates were observed in the index of housing, water, electricity, gas and other fuels of 2.5 percent , and recreation, sport and culture, 5.3 percent. Food inflation in the provincial level has decreased to 10 percent (Feb.) from 10.9 in January. The lower of food inflation was brought mainly by the decrease year-on-year growth in the index of vegetables, tubers , among
others. Meanwhile, higher annual growth rates were observed in the following food groups –
bakery products; fish and other seafoods; milk and dairy products; fruits and nuts.

Primo Agatep/ABN

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