The inflation rate in Ilocos Region has decreased to 5.2 percent in May this year, lower than the 5.9 percent in April, according to the Philippine Statistics Authority (PSA). In a statement issued on Thursday, PSA Ilocos regional director Sheila de Guzman said the slower inflation in the region last month was primarily influenced by the considerable decrease in inflation of housing, water, electricity, gas and other fuels, transport, food, and non-alcoholic beverages. Pangasinan posted the highest inflation rate at 6.1 percent in May followed by Ilocos Sur at 4.8 percent, while La Union and Ilocos Norte have the lowest inflation rates of 3.4 percent, she said. ‘Compared to their respective levels in May 2022, Ilocos Norte, and Ilocos Sur both decreased by 3.7 percentage points. Meanwhile, La Union exhibited decreased inflation rate by 0.8 percentage points. On the other hand, the province of Pangasinan exhibited an increase in its inflation rate by 0.9 percentage points,’ she said. Inflation rates for alcoholic beverages and tobacco, health, personal care, miscellaneous goods and services, recreation, sport and culture, furnishings, household equipment and routine household maintenance, and clothing and footwear are also lower compared to April’s rates. ‘The rest of the commodity groups retained their previous month’s inflation rates or had zero percent annual growths,’ she added. De Guzman said the food index of the Ilocos Region decreased to 7.9 percent in May 2023 from 8.3 percent in April. Fruits and nuts were at 8.8 percent; sugar, confectionery, and desserts at 36.4 percent; oils and fats at 11.5 percent; vegetables, tubers, cooking bananas, and pulses at 8.0 percent; meat and other parts of slaughtered land animals at 2.0 percent; corn at -10.4 percent; flour, bread, and other bakery products, pasta products, and other cereals at 9.9 percent; milk, other dairy products, and eggs at 16.2 percent; and ready-made food and other food products at 6.5 percent. ‘The rest of the indices exhibited increases from their previous month’s inflation rates or had zero percent annual growths,’ she sai
Source: Philippines News Agency