From 9.3 percent in January of this year to 8.3 percent in February, the Ilocos…
Inflation in Surigao Sur fell to 8% in February.
Surigao del Sur province’s inflation rate declined marginally to eight percent in February this year, as prices of food and non-alcoholic drinks showed drops compared to the previous month.
The figure is lower than the 8.3 percent inflation rate reported last month, according to a study released on Friday by the Philippine Statistical Authority in Surigao del Sur (PSA-SDS), but it is still higher than the 3.8 percent inflation rate in the same month of 2022.
According to PSA-SDS, the average inflation rate for the first two months of 2023 was 8.2 percent.
It was also noted that Surigao del Sur’s inflation rate for the previous month was lower than both the national average of 8.6 percent as well as the 8.3 percent recorded for the Caraga Region.
Six commodity groups were also recognized by the PSA-SDS as being responsible for the month’s decline in inflation.
It included transportation (2.4 percent), alcoholic beverages and tobacco (7.2 percent), restaurants and lodging services (7.4 percent), furniture, household equipment, and routine household maintenance (2.5 percent), as well as leisure, sports, and culture (which saw an inflation rate of 7.9 percent) (2.6 percent).
According to PSA-SDS, “the province’s food index also decreased by 7.9 percent in February 2023, from 9.2 percent the previous month,” noting that Surigao del Sur’s food inflation was lower by 3.8 percent in the same month last year.
Vegetables, tubers, plantains, cooking bananas, and pulses contributed more to inflation last month than rice (0.8 percent), meat and other parts of slaughtered land animals (8.7 percent), sugar, confectionery, and deserts (46.1 percent), milk and other dairy products, eggs (2.0 percent), and corn (2.9 percent) (13.3 percent).
The PSA-SDS also said that the transport commodity fell last month, falling from 3.2 percent in January to 2.4 percent.
The agency reported that “the transport commodity in Surigao del Sur was higher in February 2022 registered at 6.4 percent”. (***
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