INFLATION ACCELERATION. Higher jumps in the rate of price increases pushed Ilocos Region’s February 2024 inflation rate to 2 percent from month-ago’s 1.5 percent. The acceleration was primarily traced to faster food inflation. (PNA file photo)
MALASIQUI, Pangasinan – Ilocos Region’s inflation rate rose slightly to 2 percent last February from month-ago’s 1.5 percent, driven by faster upticks in food prices, the Philippine Statistics Authority (PSA) reported Thursday.
“The food index of Ilocos Region increased to 7.1 percent in February this year from 4.7 percent in the previous month (January),” PSA-Ilocos Region statistical specialist Joseph Estoesta said in a statement on Thursday.
Estoesta said the food index rate last month is slower than year-ago’s 10.9 percent.
Specifically, food and non-alcoholic beverages index rose to 6.9 percent from 4.7 percent, alcoholic beverages and tobacco to 6.4 percent from 5.9 percent, clothing and footwear to 3.5 percent from 3.1 percent, and health to 1.7 percent from 1.6 percent.
On the other hand, transport slipped by -0.2 percent from last January’s -1.8 percent.
Estoesta said La Union posted the highest inflation rate among the four provinces in the region at 2.8 percent in February 2024.
It was followed by Pangasinan and Ilocos Norte at 2.4 percent both, while Ilocos Sur posted an inflation rate of -1.1 percent. (PNA)
