La Union: Inflation in La Union slowed down to 1.5 percent in March from 3.0 percent in February, according to the Philippine Statistics Authority (PSA) Ilocos Region.
According to Philippines News Agency, PSA La Union chief statistical specialist Dr. Danites Te±ido, in a forum on Friday, explained that the deceleration was mainly driven by food and non-alcoholic beverages, which accounted for 71.3 percent of the downtrend. Inflation in this category dropped from 3.8 percent to 1.3 percent, while transport inflation fell from -1.4 percent to -3.5 percent, and housing, utilities, and fuels declined slightly from 6.9 percent to 6.3 percent.
Under food and non-alcoholic beverages, rice showed a significant drop in inflation from -4.8 percent to -14.8 percent. Meat of pigs, fresh, chilled, or frozen, saw inflation decrease from 15.8 percent to 13.9 percent. Tomatoes, fresh or chilled, experienced a dramatic change from 35.9 percent to -34.3 percent from February to March.
Dr. Danites Te±ido noted that the Department of Agriculture (DA) had implemented a maximum suggested retail price on imported rice in February, which was enforced in March, contributing to the reduced price of rice. DA-Ilocos Region project evaluation officer Irene Tactac highlighted that 45 percent of the area harvested in the province, equivalent to 4,293 hectares out of 9,546 hectares, contributed to a higher supply of rice and lower prices.
She also mentioned that the supply of pork products increased due to a rise in backyard production alongside commercial production. Tactac added that interventions from the DA, such as repopulation and indemnification, allowed hog raisers to purchase stocks, addressing the African swine fever cases that affected the province in recent months.
National Economic Development Authority-Ilocos Region senior economic development specialist Charmaine Yusongco attributed the lower transport inflation to reduced petroleum product prices. Additionally, categories such as recreation, sport and culture, clothing and footwear, housing, water, electricity, gas, health, furnishings, household equipment, routine household maintenance, personal care, and miscellaneous goods and services also posted lower inflation rates. However, restaurants and accommodation services, information and communication, education services, and financial services maintained their inflation rates.
