NextGen Day

According to PSA-13, the Philippine Statistics Authority for the Caraga Region, the region’s inflation rate marginally climbed from 8.1% in January to 8.3% in February of this year.

According to PSA-13, the greater year-over-year increase rate in the index of housing, water, electricity, gas, and other fuels at 11.6%, up from 10.2% in the previous month, was the source of the higher inflation rate last month.

Furniture, home appliances, and everyday household items all had higher inflation rates last month, rising to 3.2% from 2.3% the month before.

The agency also reported increases in inflation on miscellaneous goods and services, which were registered at 3.2% in January 2023 and increased to 3.8% in February.

“Higher increments in the indices of several commodity groupings, as opposed to their inflation rates from the previous month, was another element in the inflation increase over the period,” the PSA-13 stated.

Alcohol and tobacco made up 0.5% of the commodity groups, followed by apparel and footwear (2.9%), health (2.2%), information and communication (0.7%), and recreation, sports, and culture (4.2%).

In contrast, a lower year-over-year growth rate of 7.1% and 3.7%, respectively, were reported in the region’s restaurant and lodging services indexes during the same time period.

The food index also dropped, from 10.8% in January 2023 and 3.4% in February 2022, to 10.5% in February 2023.

According to the PSA-13, “the lower annual rise in rice index at -0.1%, from 1.5% in the previous month, was the main influence on the decrease in the food inflation.”

Smaller increases were also noted in the following categories last month: 12.8% for meat and other parts of slain land animals; 10.2% for oils and fats; 30.4% for vegetables, tubers, cooking bananas, and legumes; and 41.7% for sugar, confections, and sweets.

constant prices

The Caraga Region Department of Agriculture (DA-13) reported constant prices for agricultural goods in this city at the same time.

This market’s Mayor Salvador Calo Public Market was the subject of the most recent price monitoring, which took place there from March 19 to 23.

Including the well-milled and regular-milled rice, no changes in the pricing of local commercial rice in the market were observed throughout that time.

While the price of well-milled imported rice decreased from PHP45 per kilo last week to PHP44 this week, the price of imported premium rice stayed at PHP45.

With the exception of pork ribs, whose price jumped from PHP300 to PHP320 per kilo in the past two weeks, prices for products containing pig remained stable. Also, the price of whole-dressed chicken decreased this week from PHP215 per kilo to PHP210.

With the exception of onions, whose price decreased from PHP180 per kilo last week to PHP140 this week, no significant price adjustments for vegetable goods were seen.

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