NEGATIVE INFLATION. Liquified petroleum gas (LPG) sold in the Mimaropa region posted negative 1.8 percent inflation in February from 7.3 percent in January 2024. Ana Patricia Ramos of the Philippine Statistics Authority-Mimaropa on Wednesday (March 13, 2024) said LPG, among other heavily-weighted items, contributed substantially to the slower inflation in the region last month. (PNA photo by Joan Bondoc)
CALAPAN CITY, Oriental Mindoro – Headline inflation in the five-province Mimaropa region eased to 3.4 percent in February, down slightly from the 3.6 percent registered in the year’s opening month.
In an interview on Wednesday, Ana Patricia Ramos, statistical specialist II at the Philippine Statistics Authority-Mimaropa, attributed the inflation slowdown mainly to the easing of price pressures in electricity and cooking fuel.
Ramos said inflation on liquefied petroleum gas (LPG) actually reversed to negative 1.8 percent last month from positive 7.3 percent in January.
Inflation on consumers’ power bills also decelerated substantially to 5 percent in February from 9.1 percent the previous month.
Ramos said softer inflation in several highly-weighted items last month, top-billed by housing, water, electricity and gas, managed to offset sustained price pressures on rice.
She added that inflation on rice accelerated to 15.8 percent last month from 11.3 percent in January.
It was further reported that the region’s food index modestly accelerated to 3.1 percent last month from 2.6 percent in January, mostly because of the uptick in rice prices.
However, vegetables, tubers, plantains, cooking bananas and legumes registered negative inflation of 9.8 percent, softening the overall blow on food inflation.
In February 2023, food inflation in Mimaropa was significantly higher at 11.2 percent. (PNA)
