Pangasinan’s Inflation Accelerates to 4.1% in August

Pangasinan: The Philippine Statistics Authority (PSA) Pangasinan recorded an uptick in the province's inflation rate to 4.1 percent in August this year, from 3.3 percent in July.

According to Philippines News Agency, PSA Pangasinan supervising statistical specialist Ferdinand Jocutan stated during Thursday's online forum that the major contributors to the uptrend are food and non-alcoholic beverages with a 63.1 percent share; housing, water, electricity, gas, and other fuels with 24.5 percent; and transport with 9.9 percent.

Under food and non-alcoholic beverages, food led with 3.7 percent inflation in August from 2.1 percent in July, while housing, water, electricity, gas, and other fuels, house rentals spiked from 3.8 percent in July to 5.3 percent, and in transport commodities, operation of personal transport equipment grew from -4.0 percent to -1.5 percent.

Department of Agriculture-Ilocos Region project evaluation officer Irene Tactac said the higher food inflation was due to recent calamities. "High-value crops or vegetables and fruit seedlings were among the most affected commodities," she said.

She noted that buffer stock seeds and other inputs have been prepositioned to ease the impact of the disasters on agriculture in the province.

Meanwhile, Jocutan said health, information and communication, restaurant and accommodation services also recorded higher inflation with 0.3 percent, -0.1 percent, and 8.1 percent, respectively.

Furnishings, household equipment, and routine household maintenance; recreation, sport, and culture; education services; personal care; and miscellaneous goods and services recorded lower inflation, while the remaining commodities maintained their inflation rate from July, he said.