DUMAGUETE CITY: The headline inflation of Negros Oriental dropped to 3.4 percent in July from 4.2 percent in June.
It was the lowest so far this year, according to an official of the Philippine Statistics Authority (PSA) on Friday.
During a press briefing, Chief Statistical Analyst and PSA-Negros Oriental head Ariel Fortuito said the main driver in the drop was the housing, water, electricity gas and other fuels commodity group.
‘The drop in the prices of gasoline, water and electric bills have resulted in the drop, which is also an indicator that we have enough budget,’ Fortuito said.
Alcoholic beverages, tobacco, clothing and footwear also contributed to the figure.
On the other hand, the commodity groups that had high inflation rates were food and non-alcoholic beverages, transport, and education services.
Fortuito said the groups with constant inflation are information and communication; furnishings, household equipment, and routine household maintenance; restaurants and accommodation services; fina
ncial services; and personal care and miscellaneous goods.
The decline in the July inflation rate was also the lowest since July 2023.
The province recorded its highest inflation in March at 4.5 percent.
Last year, the lowest inflation was recorded in November at 5.4 percent while the highest was in September at 7.1 percent.
Source: Philippines News Agency
