PAMPANGA'S CITY OF SAN FERNANDO – The Philippine Statistics Authority's Regional Statistical Services Office (PSA-RSSO)…
Inflation in Central Luzon remained low in April at 7.3%.
According to the most recent report from the Philippine Statistics Authority-Regional Statistical Services Office in the region (PSA-RSSO III), the inflation rate in Central Luzon continued to decline in April, falling to 7.3%.
The most recent statistic is 1.1 percentage points lower than the 8.4% in March 2023.
In terms of the areas with the greatest inflation in April, Central Luzon came in at number four.
Western Visayas, with an inflation rate of 8.2 percent, continued to have the highest rate, followed by Mimaropa Region and Davao Region, with inflation rates of 7.8 percent and 7.5 percent, respectively.
On the other hand, the Cordillera Administrative Region had the lowest inflation, at 4.3 percent.
Additionally, the nation’s overall inflation rate steadily decreased from 7.6 percent in March to 6.6 percent in April.
Arlene Divino, the regional director for PSA-RSSO III, stated in her report on Wednesday that the decrease in inflation may be ascribed to smaller increases seen in the index of food and non-alcoholic drinks, which fell to 7.6 percent from 9.2 percent in March.
The transport index came in at 4.6 percent, and then housing, water, electricity, gas, and other fuels came in at 7.0 percent.
Divino added that the 7.4 percent decline in the index of restaurants and lodging services may be blamed for the downward trend in inflation.
The regional food index’s yearly growth rate also decreased from 9.3 percent in March to 7.5 percent in April.
According to Divino, the annual growth rates of all food indices decreased, with the exception of the index for flour, bread, and other bakery items, pasta products, and other cereals, which increased to 15.4 percent from 15.2 percent in March.
With the exception of Bulacan, where the inflation rate increased by 0.4 percentage points to 8.1 percent from 7.7 percent in March, all of the region’s seven provinces and two heavily urbanized cities showed lower annual increases in April, continuing the trend at the regional level.
Pampanga has the highest inflation rate among the provinces in Central Luzon, at 8.9%, followed by Bataan at 8.3%.
On the other hand, Nueva Ecija had the lowest inflation rate, at 4.4 percent.
The government has been implementing reforms, programs, and projects, according to Nerrisa Esguerra, regional director of the National Economic Development Authority in Central Luzon (NEDA-3), to address growth constraints and urgent challenges, particularly inflation brought on by global developments and supply issues.
Esguerra emphasized the significance of carrying out the Central Luzon Regional Development Plan 2023–2028 and the Philippine Development Plan, both of which contain measures intended to bring about economic and social change.
She stated that cooperation with the private sector is essential to continue building the infrastructure base, boost resilience, improve connectivity, achieve food sufficiency, and drive human capital development despite the limited fiscal space available.
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