CAGAYAN DE ORO CITY (PIA)--The regional inflation or the rate of average goods and services increased to 7.0 percent in September 2022, from 6.6 percent in the previous month, and 3.6 percent in September 2021 said Janith C. Aves, Officer in Charge of the Philippine Statistics Authority (PSA) during the closing ceremony of the 33rd National Statistics Month.

“Based on the trend, we can expect that our inflation will continue to rise,” she said.

Month-on-month, inflation was higher in September 2022 in the following commodity groups: food and non-alcoholic beverages at 7.7 percent; alcoholic beverages and tobacco at 5.3 percent; health at 3.1 percent; education services at 1.7 percent; restaurants and accommodation services at 5.1 percent; and personal care and miscellaneous goods and services at 3.6 percent.

The major contributors to the uptrend of the food commodity group were rice, sugar, confectionery and desserts and meat, and other parts of slaughtered animals.

Further, food inflation accelerated to 8.0 percent, from 6.6 percent in the previous month.

Among food commodity groups, the inflation rates of the following sub-commodities in September 2022 increased compared to August 2022: Cereals and cereal products 4.4 percent; meat and other slaughtered animals, 10.8; fish and other seafood 11; vegetables, tubers, plantains, cooking bananas and pulses 12.5; sugar, confectionery and desserts 32.4; and ready-made food and other food products, 4.2 percent.

On the other hand, rice registered inflation of 1.9 percent in September 2022 from deflation of 0.1 percent in August 2022.

Corn inflation increased to 10.7 percent from 8.1 percent in the preceding month.

Further, inflation of flour, bread and other bakery products, pasta products, and other cereals accelerated to 7.8 percent in September 2022 from 6.7 percent in the previous month.

The provinces and highly urbanized cities that contributed to the uptrend of the regional inflation were Cagayan de Oro City, Misamis Oriental and Lanao del Norte.

National Economic Development Authority (NEDA) 10 assistant regional director Leonila G. Cajarte, shared that food comprises 70% of the inflation.

According to Cajarte, a subsidy is provided for the vulnerable sectors particularly farmers and fisherfolks to ensure food supply and increase food productivity. (JMOR/PIA10)