MARAWI CITY (PIA) -- The inflation rate in Lanao del Sur continued to accelerate reaching 5.3 percent in April 2024 from 4,5 percent in March 2024.
Mohammadali Alonto, the chief statistical specialist of the Philippine Statistics Authority (PSA) in Lanao del Sur, reported that this acceleration was primarily driven by fast increase in price index of key sectors. Food and Non-Alcoholic Beverages rose to 7.9 percent from 6.9 percent, Housing, Water, Electricity, Gas, and Other Fuels increased from -2.3 percent to -1.5 percent, and Transport accelerated from -0.5 percent to 1.3 percent. These rises contributed to the overall uptick in inflation rates across the province.
The provincial inflation report showed a continued upward trajectory in the food index, reaching 8.0 percent from the previous month's 7.0 percent. This surge was fueled by accelerated inflation rates for various food items, including vegetables, tubers, plantains, cooking bananas, pulses, fish, other seafood, and ready-made food and other food products.
However, certain food categories experienced lower inflation rates, such as cereals and cereal products at 13.4 percent from 13.6 percent; flour, bread, and other bakery and pasta products at 4.2 percent from 4.4 percent; and meat and other parts of slaughtered land animals at 8.1 percent from 8.6 percent.
Rice inflation also slowed down to 15.8 percent from the 16.1 percent recorded in March.
Despite varied inflation rates across food categories, the purchasing power of consumers within the province declined to 0.80 in April 2024, indicating that one peso in 2018 was worth only 0.80 centavos by April 2024. (APB/PIA-10 Lanao del Sur)
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