By Antonio Colina IV
DAVAO CITY – The inflation rate in all of Mindanao’s six regions declined in November, as data from the Philippines Statistics Authority (PSA) showed.
While the five-province and two-city Autonomous Region in Muslim Mindanao (ARMM) continued to have the highest inflation rate in Mindanao, it nevertheless registered the biggest drop of 1.3 percentage points since
September when it posted nine percent inflation, the highest among the six Mindanao regions, and the second highest in the country. Inflation now stands at 7.7 percent in ARMM.
Caraga recorded the lowest inflation rate at 5.6 percent, and Davao Region at 6.3 percent. The inflation rate of Zamboanga Peninsula also went down to 7.2 percent, and Northern Mindanao and Soccsksargen at 6.9 percent.
The region with the highest inflation rate was Bicol Region (8.9%) while the lowest was Central Luzon (4.4%).
The PSA reported that the country’s inflation rate slowed down to 6 percent in November 2018 from 6.7 percent in October, following the slower movement in the indices of food and non-alcoholic beverages at 8.0 percent; housing, water, electricity, gas and other fuels, 4.2 percent; and communication, 0.4 percent.
It added that education index “continued to post an annual rate of -3.8 percent, while transport index retained its previous month’s annual rate of 8.9 percent.”
It said the annual gain in food index further eased to 7.7 percent in November 2018.