AC posts lowest inflation rate in CL
ANGELES CITY— The city government here achieved the lowest inflation rate in Central Luzon in January 2024, recording 0.2%, according to a recent report from the Philippine Statistics Authority (PSA).
The same report showed that Angeles City maintains a stable 3% rate in May 2024.
This represents a significant decrease from the 5.9% inflation rate recorded in the same month last year.
The city government said this demonstrates the effective economic management under the leadership of Mayor Carmelo "Pogi" Lazatin, Jr.
Lazatin said he is pleased that Angeles City achieved this positive outcome.
The mayor attributed it to the city government's continuous efforts to manage economic challenges and improve the quality of life for residents.
"We are pleased to see Angeles City achieve this positive development which reflects our ongoing efforts to manage economic challenges effectively and improve the quality of life for our residents. We remain committed to supporting both our local businesses and the community to ensure continued economic stability and growth," Lazatin said.
He added that this achievement highlights the city government's resilience and commitment to navigate economic challenges, serving a model of stability and progress and business-friendly.
Lazatin said that among his campaign promises is to maintain economic stability and enhance the living conditions of residents in the city.
The mayor said that this achievement is a step towards fulfilling his commitments.
PSA showed that the stability of the inflation rate was positively influenced by the Restaurants and Accommodation Services sector which maintained a high inflation rate of 10.2%, reflecting a robust demand.
The Food and Non-alcoholic Beverages category saw a slight decrease to 3.3%, down from 3.4% in April.
The transportation experienced an increase from 3.9 % to 4.7% the previous month, indicating ongoing investments in infrastructure.
Categories experienced upward trends in inflation, including Personal Care and Miscellaneous Goods and Services, which rose to 4.1% from 4%.
Information and Communication increased from 0.8% to 1% suggesting advancements in the sector.
Housing, Water, Electricity, Gas, and Other Fuels saw a decrease from 2.1% to -1.6%, highlighting improvements in energy efficiency.
Among the categories which also benefited from lower inflation rates were Alcoholic Beverages and Tobacco which decreased from 4.6% to 3.8%.
Furnishings, Household Equipment, and Routine Household Maintenance saw a drop to 2.8%.
Health services improved with a decrease to 2.5%, while Recreation, Sport, and Culture saw a reduction to 3.6%, indicating more stable consumer prices in these areas.
The Consumer Price Index (CPI) for Angeles City in May 2024 is ₱125.4 which means that ₱125.4 is needed to purchase goods and services worth ₱100 in 2018, up from ₱121.8 in May 2023.
The Purchasing Power of Peso (PPP) stands at 0.80, down from 0.82 in May 2023. This reflects the ongoing efforts to maintain purchasing power in a dynamic economic environment.