Iligan City records lowest inflation rate in March 2023

May 1, 2023

PSA-X Chief Statistical Specialist Sarah Balagbis presents the March 2023 Inflation Report of Northern Mindanao. She explains that the regional inflation or the rate of change of the average prices of goods and services in the region decelerated to 7.4%in the month of March 2023. (Daniel Clark Cabantan/PIA-10)

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)


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