Pangasinan: The Philippine Statistics Authority (PSA) in the Ilocos Region (PSA-1) reported a slowdown in inflation in La Union and Pangasinan provinces in February compared to January, primarily due to a decrease in prices of some agricultural products.
According to Philippines News Agency, La Union's inflation rate eased to 1.2 percent in February from 1.4 percent in January. PSA-La Union Chief Statistical Specialist Danites Te±ido attributed this decrease mainly to reduced prices in food and non-alcoholic beverages, particularly poultry and pork (fresh, chilled, or frozen), which saw inflation rates drop to -1.1 percent from 13.5 percent, and -0.9 percent from 7.3 percent, respectively.
Onions and shallots experienced a significant drop in inflation, falling from 59.3 percent in January to 1.9 percent in February. Other pelagic fish (live, fresh, or chilled) also contributed to the easing, with inflation declining to 13.0 percent in February from 16.6 percent in the previous month. Other sectors such as transport commodities and education services also remained stable, contributing to the overall inflation slowdown.
However, the inflation rate for fuel wood rose to 10.3 percent due to the tobacco curing period, when farmers use fuel wood to dry leaves.
In Pangasinan, the inflation rate slowed to 1.6 percent in February from 2.4 percent in January. This was driven by lower house rentals and prices of certain agricultural products. PSA-Pangasinan statistical specialist Ana Liza Orperia identified food and non-alcoholic beverages, particularly vegetables, tubers, plantains, cooking bananas, and pulses, as the main contributors to the deceleration, with inflation recorded at -4.6 percent in February from 10.7 percent in January.
Jinnefer Pulmano Alcaide, project evaluation officer of the Department of Agriculture, noted that the ample supply of agricultural products from the last quarter of the previous year contributed to the lower inflation rates. However, she warned that rising fuel costs could impact inflation in the coming months, as fuel is one of the input costs for agricultural products.
Jericho Jay Abacco, economic development specialist of the Department of Economy, Planning, and Development, explained that the national inflation forecast was adjusted to 3.6 percent from 2.4 percent due to the ongoing crisis caused by the war in the Middle East.
Lawyer Clyde Ciddrick Yapit of the Department of Trade and Industry Ilocos Region confirmed that prices of basic necessities and prime commodities remained stable across the four provinces of the region, with only slight movements observed.
