CAMIGUIN (PIA)--The inflation rate in the province of Camiguin continued to exhibit a slower pace as it decelerated further to 8.2 percent in April 2023 from 8.6 percent in March 2023.

The year-to-date inflation rate for April 2023 in the province averaged 8.8 percent.

All five provinces across the Northern Mindanao region exhibited a lower inflation rate in April 2023. Meanwhile, the province of Camiguin continued to record the highest inflation rate at 8.2 percent. The province of Misamis Oriental recorded an inflation rate of 7.5 percent in April 2023, down from 8.3 percent in March 2023. The provinces of Bukidnon, Misamis Occidental, and Lanao del Norte registered 7.3 percent, 5.5 percent, and 5.3 percent inflation rates, respectively.

The lower inflation rate in Camiguin in April 2023 was mainly due to the slower annual increase on the year-on-year growth in the heavily weighted food and non-alcoholic beverages index, at 10.9 percent from 11.7 percent in March 2023, or a 0.8 percentage point difference. Further, lower annual increments were noted in the indices of the following commodity groups in April 2023: Alcoholic beverages and tobacco, 9.9 percent; housing, water, electricity, gas, and other fuels, 7.0 percent; health, 0.8 percent; recreation, sports, and culture, 4.7 percent; restaurants and accommodation services, 18.1 percent; and personal care and miscellaneous goods and services, 5.7 percent.

On the other hand, higher annual increments were observed in the indices of furnishings, household equipment, and routine maintenance of the house at 2.6 percent, and transport at 5.2 percent.

The indices of clothing and footwear, information and communication, and education services had retained their recorded rates in March 2023 for April 2023 at 3.2 percent, 0.1 percent, and 1.3 percent, respectively, while the financial services index recorded a zero percent annual inflation rate.

annual increment of the index of rice at 4.8 percent in April 2023.

In addition, the following food and non-alcoholic beverage indices recorded slower annual increases during the month of April 2023: meat and other parts of slaughtered land animals (18.7%), fish and other seafoods (2.4%), milk, other daily products, and eggs (18.7%), vegetables, tubers, cooking bananas, and pulses (16.0%), and sugar, confectionery, and desserts (32.5%).

The following food group indices, on the other hand, recorded an increase in April 2023: flour, bread, and other bakery products; pasta products and other cereals, 12.9 percent; oils and fats, 9.2 percent; fruits and nuts, 12.5 percent; and ready-made food and other food products, n.e.c., 4.6 percent. (PSA-Camiguin/PIA-10/Camiguin)