The province of Negros Oriental’s inflation rate eased at 1.5 percent in September, an official of the Philippine Statistics Authority here said Thursday.
PSA-Negros Oriental chief statistical specialist and provincial head, Ariel Fortuito, said in an interview that it was the lowest since January this year.
Fortuito attributed the slowing down of inflation to the drop in prices of food and similar commodities.
“The major driver of the inflation decline is the food commodity group with prices which lowered last month,” Fortuito said.
The average inflation rate of the Province from January to September was 3.9 percent.
Compared to September last year, the inflation rate was at 7.1 percent.
The major commodity groups that contributed to the lower inflation last month were food and non-alcoholic beverages with a 70.1 percent share, followed by transport with 22.4 percent, and restaurants and accommodation services with 4.9 percent, the PSA report said.
In the food groups, rice dropped from 17 percent in August to 5.9 percent in September; meat and other parts of slaughtered land animals from 12.5 percent to 8.8 percent; and milk, other dairy products, and eggs from 0.4 percent to 0.3 percent.
Other commodity groups that showed a decline in inflation were personal care and miscellaneous goods and services; education services; clothing and footwear; health; and recreation, sports, and culture.
While other drivers declined this month, the housing, water, gas, electricity, and other fuels rose to 2 percent from 1.5 percent recorded in August.
Commodity groups with constant inflation include financial services; information and communication; furnishings, and household equipment and routine household maintenance.
Fortuito expressed hope that the deceleration of the Province’s inflation rate would continue until the end of the year despite the unstable price hikes in fuel and other petroleum products.
He said the inflation drop would mostly benefit consumers.
A PSA report showed that except for a couple of months this year, the monthly inflation trend in the Province showed a continuous decline.
The Province recorded this year’s highest inflation rate in March at 5.8 percent. (Judy F. Partlow/PNA)
