NorMin inflation slows down to 5.7% in December 2018

THE inflation rate in Northern Mindanao eased to 5.7 percent in December 2018, the Philippine Statistics Authority (PSA) in this region reported.

According to PSA-Northern Mindanao, last month's inflation rate was 1.2 percentage points lower than the recorded 6.9 percent inflation rate in November 2018.

Among the provinces in the region, Bukidnon had the highest inflation rate at 7.2 percent, followed by Camiguin at 6.9 percent, Lanao del Norte at 5.7 percent, Misamis Occidental at 5.3 percent, and Misamis Oriental at 4.8 percent.

All the figures were higher than the government target of 2.0 to 4.0 percent for the period 2016 to 2018.

Among the commodity groups, Alcoholic Beverages and Tobacco still recorded the highest inflation at 16.6 percent in December 2018, followed by Restaurant and Miscellaneous Goods and Services at 9.8 percent; Housing, Water, Electricity, Gas, and Other Fuels, at 7.0 percent; and Health at 6.1 percent.

Meanwhile, Education registered the lowest inflation rate at -10.2 percent in the same period.

Other commodity groups recorded the following inflation rates: Food and Non-Alcoholic Beverages at 6 percent; Transport at 4.5 percent; Recreation and Culture at 4.4 percent; Clothing and Footwear at 4 percent; and Routine Maintenance of the House at 3.7 percent.


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