BUTUAN CITY: Caraga Region recorded a 3.4 percent inflation rate last month, the same rate posted in April this year.
‘The food and non-alcoholic beverages are considered the main contributors to the region’s inflation last month,’ said Presa Villarina, the supervising statistical specialist of the Philippine Statistics Authority-Caraga (PSA-13), in a press conference here on Thursday.
Villarina said the region’s May 2024 inflation rate is lower than the 5.4 percent registered in the same month last year.
According to PSA-13 date, food and non-alcoholic beverages posted a 7.1 percent inflation rate, which contributed 94.4 percent to the overall inflation in the region last month.
Of the 13 commodity groups, five showed high inflation in May: housing, water, electricity, gas, and other fuels, with a -3.4 percent rate compared to -3.6 in April; health (1.8 percent rate from 1.3 percent); transport (1.1 percent rate from 0.3 percent); information and communication (1.8 percent rate from 1.7 percent); and rec
reation, sports, and culture (5.0 percent rate from 4.9 percent).
Meanwhile, six commodity groups indicated lower inflation last month, including food and non-alcoholic beverages with a 7.1 percent inflation rate compared to 7.4 percent in the previous month; alcoholic beverages and tobacco with a 3.2 percent rate from 3.8 percent; and clothing and footwear with 2.8 percent rate from 3.1 percent;
Also included are furnishings, household equipment, and routine household maintenance with a 2.1 percent rate from 2.5 percent; restaurants and accommodation services with a 2.1 percent rate from 2.3 percent; and personal care and maintenance goods and services with a 3.8 percent rate from 4.6 percent.
Two commodity groups – education and financial services – had registered constant inflation rates in the region for the past two months at 1.7 percent and -0.3 percent, respectively.
Source: Philippines News Agency