BUTUAN CITY – From 2.7 percent in February, the inflation in the Caraga Region spiked to 3 percent last month, the Philippine Statistics Authority in the region (PSA-13) said Monday.
However, PSA-13 said this year’s March inflation was lower at 7.3 percent compared to the same period last year.
Housing, water, electricity, gas, and other fuels were identified as the primary sources of the acceleration of inflation in the region, which registered -4.1 inflation last month compared to -5.4 in February.
“The housing, water, electricity, gas, and other fuels logged a 55.1 percent uptrend share to last month’s inflation,” the PSA report said.
Other causes of increased inflation last month were food and non-alcoholic beverages and transport.
Food and non-alcoholic beverages accounted for a 23 percent share of last month’s inflation uptrend, and transport at 16.8 percent.
In general, PSA-13 said food and non-alcoholic beverages are the inflation’s main contributors in the region, posting 6.3 percent and contributing a 94.5 percent share in last month’s inflation.
Furnishings, household equipment, and routine household maintenance also posted a 2.7 percent increase in March from 2.5 percent in February.
The agency added that health was also a factor in last month’s inflation uptrend, with a 1.3 percent increase compared to 1.2 percent in February.
Constant inflation was also recorded in education services at 1.7 percent and in financial services at -0.3 percent. (PNA)
