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NorMin April 2024 inflation declines to 4.5%

MALAYBALAY: The Northern Mindanao inflation rate for April remains lower this year compared to the previous year, the Philippine Statistics Authority Region 10 (PSA-10) reported on Tuesday.

In its monthly report, PSA-10 said last month’s inflation declined to 4.5 percent from 6.4 percent in the same period in 2023.

The agency also reported that inflation rate in April 2024 was slightly higher compared to previous month’s rate of 3.9 percent.

Dr. Janith Aves, PSA-10 officer-in-charge, said the primary sources of the April 2024 inflation were food and non-alcoholic beverages.

The transport sector followed, with furnishings, household equipment, and routine household maintenance trailing behind.

Meanwhile, Blessie Cimacio, planning officer at the Department of Trade and Industry-10, said the agency is intensifying its “Diskwento (Discount) Caravan” to mitigate the effects of inflation on consumer items.

“This coming May 16-17, during the ‘Bagong Pilipinas Serbisyo (New Philippines Service’ Fair), we will h
ave our Diskwento Caravan. We have invited manufacturers that would sell goods at discounted prices,” she said.

Source: Philippines News Agency