BUTUAN CITY – Surigao del Sur province's inflation rate dropped slightly to eight percent in February this year, as prices of food and non-alcoholic beverages saw decreases compared to the previous month.
In a report Friday, the Philippine Statistics Authority in Surigao del Sur (PSA-SDS) said the figure is lower than the inflation rate of 8.3 percent recorded last month, but remains higher compared to the 3.8 percent in the same month in 2022.
“The average inflation for the first two months of the year 2023 stood at 8.2 percent, PSA-SDS said.
It added that last month’s inflation rate in Surigao del Sur is also lower compared to the inflation rate recorded in the Caraga Region at 8.3 percent, and to the national level’s 8.6 percent.
The PSA-SDS also identified six commodity groups that made the inflation rate drop last month.
It included the food and non-alcoholic beverages that logged a 7.9 percent inflation rate; transport (2.4 percent); alcoholic beverages and tobacco (7.2 percent); restaurants and accommodation services (7.4 percent); furnishings, household equipment, and routine household maintenance (2.5 percent); and recreation, sports, and culture (2.6 percent).
“The food index in the province also reduced by 7.9 percent in February 2023, from 9.2 percent in the previous month,” PSA-SDS said, adding that for the same month last year, the food inflation in Surigao del Sur was lower by 3.8 percent.
Food groups that exhibited higher contribution to inflation last month included vegetables, tubers, plantains, cooking bananas and pulses at 29.1 percent; rice (0.8 percent); meat and other parts of slaughtered land animals (8.7 percent); sugar, confectionery, and deserts (46.1 percent); milk and other dairy products and eggs (2.0 percent); and corn (13.3 percent).
The PSA-SDS also took note of the decrease in the transport commodity last month listed at 2.4 percent compared to 3.2 percent in January.
“The transport commodity in Surigao del Sur was higher in February 2022 recorded at 6.4 percent,” the agency said. (PNA)
