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Inflation in Butuan City fell by 1.1% on December 22.

Inflation in this city decreased to 7.4 percent in December of last year, down 1.1 percent from the 8.5 percent inflation rate in November.

The Philippine Statistics Authority in the Caraga Region (PSA-13) released a statement on Tuesday stating that “the inflation in December 2022 in Butuan City is likewise higher by 1.4 percent compared to the recorded 6.0 percent inflation in December 2021.”

According to the CSA, food and non-alcoholic beverages, transportation, and apparel and footwear were the three commodity groupings that contributed to the declining inflation trend.

It stated that the inflation rate for food and non-alcoholic beverages was 8.9 percent in December 2022, down from 11.6% in November 2022, and that the inflation rate for transportation services was 7.8 percent, down from 8.6 percent in November 2022.

In contrast, the inflation rate for clothing and footwear fell to 4% from 4.4% in November 2022.

Throughout the period, rates were stable in other commodity groupings like health, information and communication, education services, restaurants and lodging services, and financial services.

Additionally, higher inflation rates were seen in the following commodity groups: alcoholic beverages and tobacco, housing, water, electricity, gas, and other fuels, furniture, home equipment, regular home maintenance, leisure, sports, and culture, personal care, and other goods and services.

The PSA-13 also noted that the city’s food inflation rate was 9.3 percent in December 2022.

According to the organization, “it is 1.3 percent lower than the recorded inflation of 10.6 percent in December 2021 and 2.9 percent lower than the 12.2 percent food inflation in November 2022.”

Additionally, the inflation rate for fish and other seafood decreased from 9.4 percent in November 2022 to 2.9 percent in December 2022.

Fruits and nuts, on the other hand, saw an inflation rate of 1.6 percent in December 2022 compared to 25.9 percent the previous month. Meat and other parts of slaughtered land animals saw an inflation rate of 23.2 percent, rice saw an inflation rate of 1.9 percent, sugar, confectionery, and desserts saw an inflation rate of 39.3 percent, and vegetables, tubers, plantains, cooking bananas, and pulses saw an inflation rate of 12.3 percent.

While this is happening, the food categories that saw a spike in inflation are corn (17.9%), flour, bread, and other bakery products, pasta, and other cereals (8.6%), milk and other dairy products, and eggs (6.6%), oils and fats (10.5%), ready-made meals, and other food items (13.6%).

According to the PSA-13, “The Purchasing Power of Peso (PPP) in Butuan City stayed at PHP0.84 in December 2022, which is unchanged from PHP0.84 in the prior month and PHP0.06 lower than PHP0.90 in December 2021.”

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