MARAWI CITY—The Philippine Statistics Authority in Bangsamoro region (PSA-BARMM) reported on Wednesday, May 10, that the inflation rate in the BARMM region decreased from 7.8 percent in March to 6.7 percent in April, indicating a stable situation in the region's economy.

PSA-BARMM Officer-in-Charge Engr. Akan Tula said the deceleration of the inflation rate in BARMM can be considered as one of the indicators that the region's economy is going stable.

Tula said the main factors contributing to the reduction of the region's inflation rate were the reduced costs of food and non-alcoholic beverages, transport, housing, water, electricity, gas, and other fuels.

BARMM ranked sixth out of all 16 regions in the country in terms of inflation rate, and fifth among the regions outside the National Capital Region (NCR) in terms of deceleration of inflation rate for April 2023.

Among the provinces in BARMM, Tawi-Tawi recorded the highest inflation rate at 10.8 percent, followed by Basilan at 9.4 percent, Sulu at 6.6 percent, Maguindanao with the lowest inflation rate at 6.1 percent, and Lanao Del Sur at 5.4 percent, all showing decreased inflation rates.

The PSA report also showed that the inflation rate in Cotabato City decreased to 4.9 percent compared to the 5.5 percent inflation rate in March. (BIO/PIA-10/Lanao del Sur)