Pangasinan’s Inflation Slightly Quickens to 3.3% in July

Manila: The inflation rate in the province of Pangasinan recorded a slight uptick from 3.1 percent in June to 3.3 percent in July this year, according to the Philippine Statistics Authority (PSA) Pangasinan.

According to Philippines News Agency, in a forum on Friday, PSA Pangasinan chief statistical specialist Edgar Norberte identified the main sources of the acceleration in the upward trend as restaurants and accommodation services with a 55.6 percent share, followed by transport with a 32.3 percent share, and education services at a 7.9 percent share.

Norberte explained that under restaurants and accommodation services, inflation rose to 8 percent in July compared to 5.7 percent in June, with restaurants, cafes, and similar establishments being the primary contributors at 8.3 percent in July from 6 percent in June.

In the transport sector, inflation shifted from -2.9 percent in June to -0.5 percent in July. Fuel and lubricants were pinpointed as the main sources of inflation in this sector. Meanwhile, education services saw inflation rise from 2.1 percent in June to 4.6 percent in July, with tertiary education contributing significantly, increasing from 0.2 percent to 7.3 percent.

Norberte also noted an increase in electricity inflation, which jumped from 9.3 percent in June to 12.8 percent in July. In addition, alcoholic beverages and tobacco saw an increase from 1.0 percent to 1.4 percent, clothing and footwear from 4.2 percent to 4.6 percent, and furnishings, household equipment, and routine household maintenance from 1.5 percent to 1.7 percent.

On the other hand, some categories experienced a decrease in inflation, including food and alcoholic beverages, which decreased from 2.9 percent to 2.1 percent, health from 0.4 percent to 0.2 percent, recreational, sport and culture from 3.4 percent to 3.3 percent, and personal care, miscellaneous goods and services from 3.8 percent to 3.5 percent.