La Union’s Inflation Plummets to 0.8% in July

La union: The inflation rate in La Union further plummeted to 0.8 percent in July from 1.4 percent in June, according to the Philippine Statistics Authority (PSA).

According to Philippines News Agency, PSA La Union chief statistical specialist Danites Te±ido, in a forum on Friday, said the slower inflation was primarily due to the downtrend inflation of food and non-alcoholic beverages from 1.0 percent to -0.5 percent inflation rate with 99.1 percent share.

The main contributors to lower inflation of food and non-alcoholic beverages are tomatoes (chilled or frozen) with -53.2 percent inflation in July against -7.3 percent in June; rice with -12.9 percent in July against -11.4 percent in June; and meat or poultry products fresh, chilled, or frozen with 8.7 percent against 14.2 percent in June, she said.

Department of Agriculture-Ilocos Region project evaluation officer Irene Tactac, in the same forum, said La Union has plenty supply of tomatoes and other vegetables. The damage caused by weather disturbances prior to Typhoon Emong on vegetable crops was not significant since most of the crops are on vegetative stage, she said.

The damage on palay or rice crops was also partial and there is still chance for these to be recovered, she added. Tactac said the declaration of state of calamity by the provincial government due to Emong's effects also helped in maintaining the price due to the imposed price freeze.

"Hence even with the recorded damage to agriculture, the prices of prime commodities were not affected," she said, adding that more livestock were also slaughtered in July compared in June.

Housing, water, electricity, gas, and other fuels have higher inflation at 6.5 percent in July against 5.9 percent in June while there was no movement in the inflation of other commodities, based on PSA's data.