MARAWI CITY --The inflation rate across the Bangsamoro region decreased to 7.5 percent in February 2023 compared to the January 2023 inflation rate of 7.8 percent, according to the Philippine Statistics Authority (PSA-BARMM).
Region VIII, or the Eastern Visayas Region, remained to have the lowest inflation rate at 6.3 percent, followed by the Cordillera Administrative Region (CAR) at second with 7.1 percent, and Region XII, or the Socks Sargen Region, with the third lowest inflation rate at 7.4 percent.
BARMM ranked fourth with the lowest inflation rate among all the regions in the country.
PSA RSSO-BARMM OIC-Regional Director Engr. Akan Tula stated that the region’s inflation was mainly brought about by the higher annual increase in the index for restaurant and accommodation services at 12.3 percent, housing, water, electricity, gas, and other fuels at 4.7 percent, and recreation, sport, and culture at 3.9 percent.
"Also contributing to the uptrend in the overall inflation during the period were the higher annual increments in the indices of the following commodity groups as compared with their previous month’s inflation rates are personal care and miscellaneous goods and services at 3.0 percent; information and communication at 1.7 percent," Tula said.
He further said annual upticks slowed down in the indices of food and non-alcoholic beverages at 9.1 percent and transport at 3.0 percent.
Tula also stated that commodity groups that retained their previous month’s inflation rate include alcohol and tobacco at 6.9 percent; furnishings, household equipment, and routine maintenance of the house at 3.8 percent; education services at 3.7 percent; clothing and footwear at 3.1 percent; health at 1.2 percent; and financial services at 0.0 percent.
Among the provinces in BARMM, Tawi-Tawi recorded the highest inflation rate at 10.9 percent, followed by Basilan at 9.5 percent, Lanao del Sur at 9.4 percent, Maguindanao at 6.4 percent, and Sulu with the lowest inflation rate at 4.0 percent.
PSA’s report also mentioned that Cotabato City dropped its inflation rate to 6.6 percent in February 2023 compared to the 7.4 percent inflation rate in January 2023. (BIO/PIA-10/Lanao del Sur)
