Bicol: The Philippine Statistics Authority in Bicol (PSA-5) announced on Monday that the inflation rate in the Bicol Region declined to 2.1 percent in March from 2.7 percent in February.

According to Philippines News Agency, PSA-5 Director Cynthia Perdiz highlighted during a press conference that this month's inflation was lower than the same period last year, which was recorded at 3.7 percent. Perdiz attributed the decline in March 2025 primarily to the slower increase in prices of food and non-alcoholic beverages, which saw an inflation rate of 1.5 percent compared to 2.7 percent in February 2025. Another significant factor was the reduction in transport prices, which experienced an inflation rate of -0.7 percent from 0.0 percent in February 2025.

The drop in cereal product prices, especially rice, played a major role in decreasing inflation for food and non-alcoholic beverages, with an inflation rate of -8.4 percent in March 2025, down from -4.6 percent in the previous month. Additionally, there was a slower price increase for meat and other parts of slaughtered land animals, with an inflation rate of 11.7 percent compared to 13.9 percent in February 2025.

Gasoline prices contributed to the reduction in transport inflation, with a faster decline resulting in a -9.1 percent rate compared to -5.8 percent in the prior month. Perdiz noted that nine out of 13 commodity groups experienced slower inflation increases in March, including categories such as food and non-alcoholic beverages, alcoholic beverages and tobacco, and transport, among others.

Mary Ann Banua, Senior Economic Development Specialist of the National Economic and Development Authority in Bicol (NEDA-5), commented during the press conference that the 2.1 percent inflation rate indicates a positive trend in price stability in the region. She remarked that the decreasing prices of goods and services will alleviate financial burdens on households and businesses, while also enhancing business investment confidence.

Five provinces in Bicol reported lower inflation rates in March. Albay recorded an inflation rate of 2.0 percent, Camarines Norte 1.4 percent, Camarines Sur 2.1 percent, Catanduanes 3.3 percent, and Sorsogon 1.6 percent. Conversely, Masbate experienced a slight increase, with inflation rising to 3.1 percent from 2.9 percent in February.