CAMIGUIN'S inflation rate increased further to 6.4 percent in June 2022 from 5.3 percent in May this year.
According to the Philippine Statistics Authority (PSA), this is much higher by 1.7 percent points compared with the annual inflation rate recorded in June 2021.
Among the five provinces in Northern Mindanao, Camiguin has the highest annual inflation rate. This was followed by Misamis Occidental, posting 5.7 percent inflation rate in June 2022, which is higher than the recorded rate of five percent in May this year.
Lanao del Norte, on the other hand, remained to be the province with the lowest inflation rate, at 3.1 percent in June 2022. This is 0.4 percent higher than the registered rate in May 2022, at 2.7 percent.
June inflation rate in Northern Mindanao rose to 5.5 percent from 4.6 percent in May.
Moreover, the national annual inflation rate in June 2022 also posted an increase of 0.7 percentage points from its registered 4.6 percent rate in May 2022.
The heavily weighted food and non-alcoholic beverages accelerated at a faster rate of 7.3 percent in June 2022 from its recorded rate of 5.7 percent in May 2022.
There were also a registered increase rate in the indices of alcoholic beverages and tobacco (7.7 percent), clothing and footwear (3.1 percent), furnishings, household equipment and routine maintenance of the house (3.3 percent), transport (17.1 percent), recreation, sports and culture (4.8 percent), restaurant and accommodation services (4.1 percent), and personal care and miscellaneous goods and services (3.7 percent).