Cagayan de oro: Inflation in Northern Mindanao for all income households surged to 8.2 percent in April, as reported by the Philippine Statistics Authority (PSA) 10 on Wednesday. This marks an increase from March's 4.6 percent and a significant rise compared to the 0.1 percent recorded in the same month last year.
According to Philippines News Agency, PSA-10 Director Janith Aves attributed the inflation rise to several factors, including food and non-alcoholic beverages, transport, and housing-related expenses such as water, electricity, gas, and other fuels. She highlighted the impact of recent fuel price increases due to the ongoing Middle East conflict as a contributing factor. Additionally, Aves noted the depreciation in the peso's purchasing power in the region, with PHP100 in 2018 now equivalent to only PHP73 in goods and services.
Furthermore, Ferdinand Caraballe, supervising agriculturist of the Department of Agriculture 10, emphasized the department's focus on supply monitoring, particularly concerning farmers' inputs. This initiative aims to maintain stable market prices and ensure sustainable food security amidst the inflation challenges.
