APIPA P. BAGUMBARAN
CAGAYAN DE ORO CITY
May 1, 2023
The city of Iligan posted the lowest rate of inflation among the highly urbanized cities and provinces in Northern Mindanao in March 2023.
According to the Philippine Statistics Authority (PSA)-X, Iligan City recorded an inflation rate of 5.8%, a decline of 2.3 percentage points from the 8.1% rate posted in February.
The same slowdown was also recorded in Lanao del Norte from 8.4% to 6.1%.
Cagayan de Oro City likewise registered a lower inflation rate in March at 6.5% from the February record of 7.5%.
Only Misamis Oriental posted an increase in inflation in March at 0.1 percentage point, that is, from 8.2% in February to 8.3% in March 2023, said PSA-X Chief Statistical Specialist Sarah Balagbis.
The highest inflation rate, on the other hand, was recorded in Camiguin at 8.6%.
Meanwhile, the inflation rate in Bukidnon and Misamis Occidental remained at 8.5% and 7.6%, respectively.
Overall, the regional inflation rate decelerated to 7.4% in March from 8.0% in February. (APB/PIA-10)