INFLATION EASES. The inflation rate in Central Luzon continues to slow down to 7.3 percent in April 2023, according to the latest report of the Philippine Statistics Authority-Regional Statistical Services Office 3. The latest figure is lower by 1.1 percentage points from 8.4 percent in March 2023. (Infographic courtesy of PSA)
CITY OF SAN FERNANDO, Pampanga – The inflation rate in Central Luzon continued to slow down to 7.3 percent in April, based on the latest report of the Philippine Statistics Authority-Regional Statistical Services Office in the region (PSA-RSSO III).
The latest figure is lower by 1.1 percentage points from the 8.4 percent in March 2023.
Central Luzon was fourth among the regions with the highest inflation in April.
Western Visayas remained to have the highest inflation rate at 8.2 percent followed by Mimaropa Region and Davao Region at 7.8 percent and 7.5 percent, respectively.
Cordillera Administrative Region, on the other hand, recorded the lowest inflation at 4.3 percent.
The country’s headline inflation also continuously decelerated from 7.6 percent in March to 6.6 percent in April.
In her report on Wednesday, PSA-RSSO III Regional Director Arlene Divino said the downtrend in inflation can be attributed to lower increments recorded in the index of food and non-alcoholic beverages at 7.6 percent from 9.2 percent in March.
This was followed by the indices of transport at 4.6 percent and housing, water, electricity, gas, and other fuels at 7.0 percent
Divino also said the downtrend in inflation could be credited to the decrease in the index of restaurants and accommodation services at 7.4 percent.
The annual growth rate in the regional food index also slowed down from 9.3 percent in March to 7.5 percent in April.
Divino said the downward trend in the food index was brought about by lower increments in the annual growth rate of all food indices except for the index of flour, bread and other bakery products, pasta products, and other cereals at 15.4 percent from 15.2 percent in March.
Following the trend at the regional level, the inflation rate in the seven provinces and two highly urbanized cities in the region also posted lower annual increments in April except for Bulacan which registered a higher increment of 0.4 percentage points at 8.1 percent from 7.7 percent in March.
Among the provinces in Central Luzon, Pampanga registered the highest inflation at 8.9 percent followed by Bataan at 8.3 percent.
Nueva Ecija, on the other hand, recorded the lowest inflation at 4.4 percent.
Nerrisa Esguerra, regional director of the National Economic Development Authority in Central Luzon (NEDA-3), said the government has been implementing reforms, programs and projects aimed at addressing constraints to growth and pressing challenges, particularly inflation brought about by global developments and supply issues.
Esguerra cited the importance of the implementation of the Philippine Development Plan and the Central Luzon Regional Development Plan 2023-2028 with strategies that are designed to bring about economic and social transformation.
Against the backdrop of a tight fiscal space, she said that collaboration with the private sector is crucial to continue expanding the infrastructure base, strengthen resiliency, improve connectivity, attain food sufficiency and pursue human capital development. (PNA)
