PANGASINAN’S inflation rate surged to six percent in September.

This marks a substantial increase of 1.1 percent compared to August 2023’s 4.9 percent but lower than the 6.4 percent seen in September 2022.

This data was released by the Philippine Statistics Authority (PSA) on October 9.

The PSA attributed the acceleration in the inflation rate to a higher year-on-year growth rate in the Food and Non-alcoholic Beverages index.

In August 2023, this index was at 10.4 percent but increased to 13.7 percent in September. Alcoholic Beverages and Tobacco also saw an uptrend at 9.4 percent, and transport at 0.9 percent.

Rice inflation played a significant role in food inflation, with a rate of 25.1 percent, significantly higher than August’s 12.9 percent but is expected to decrease beginning September, the start of the harvest season in the province, until October.

Additionally, faster annual growth rates were observed in vegetables, tubers, and other crops; fruits and nuts, fish and other seafood, flour, bread and pasta.

Inflation rate represents the rate at which prices of goods and services purchased by consumers increase over a specific period. (Ahikam Pasion)

Share your Comments or Reactions

comments

Powered by Facebook Comments