Inflation in La Union slowed down to 1.5 percent in March from 3.0 percent in February, according to the Philippine Statistics Authority (PSA) Ilocos Region.
PSA La Union chief statistical specialist Dr. Danites Teñido, in a forum on Friday, said the deceleration was mainly driven by food and non-alcoholic beverages, which accounted for 71.3 percent of the downtrend.
Inflation in the category dropped from 3.8 percent to 1.3 percent, while transport inflation fell from -1.4 percent to -3.5 percent, and housing, utilities, and fuels declined slightly from 6.9 percent to 6.3 percent.
Under food and non-alcoholic beverages, rice posted lower inflation from -4.8 percent to -14.8 percent; meat of pigs, fresh, chilled or frozen from 15.8 percent to 13.9 percent; and tomatoes, fresh or chilled from 35.9 percent to -34.3 percent from February to March.
“The Department of Agriculture (DA) has released a maximum suggested retail price on imported rice in February and was implemented in March, so there was a ceiling in the price of rice that contributed to the lower prices,” Teñido said.
DA-Ilocos Region project evaluation officer Irene Tactac said the area harvested in the province is now at 45 percent or 4,293 hectares out of the 9,546 hectares, which contributed to higher supply of rice and lower prices.
She said supply of pork products has also increased as backyard production increased aside from the commercial production.
“There were interventions from the DA such as repopulation and indemnification which allowed hog raisers to buy stocks,” she added referring to the African swine fever cases in the province the past months.
National Economic Development Authority-Ilocos Region senior economic development specialist Charmaine Yusongco said the lower inflation on transport was due to lower prices of petroleum products.
Recreation, sport and culture, clothing and footwear, housing, water, electricity, gas and others, health, furnishings, household equipment and routine household maintenance, personal care, and miscellaneous goods, and services also posted lower inflation rate.
Restaurants and accommodation services, information and communication, education services and financial services maintained their inflation rates.
By Hilda Austria(PNA)