MARAWI CITY (PIA)–The Bangsamoro region maintained the lowest inflation rate record in the Philippines at 6.3 percent last December 2022, according to a report released by the Philippine Statistics Authority (PSA-BARMM), January 10.
Both Region 12 or SOCCSKSARGEN and Region 4A or CALABARZON areas logged the second lowest inflation rate at 7.1 percent, Region 5 or the Bicol Region had the third lowest inflation rate at 7.2 percent; and Region 6 or the Western Visayas Region had the highest inflation rate at 10.5 percent.
PSA-BARMM OIC Chief Statistical Specialist Edward Donald Eloja said the region’s inflation rate of 6.3 percent last December 2022 was slightly high compared to 6.0 percent in November 2022.
“The slight increase of an inflation rate to 0.3% in December compared to the previous month in the Bangsamoro region was primarily due to the increase in growths in the indices of two (2) commodity groups such as food and non-alcoholic beverages at 8.5 percent in December compared to 7.6 percent in November; and housing, water, electricity, gas, and other fuels at 3.2 percent compared to 2.9 percent in November,” Eloja explained.
“BARMM has recorded an average inflation rate of 4.1 percent in the entire year of 2022, while 1.9 percent average inflation rate compared in the year 2021,” he added.
Among the provinces in BARMM, Lanao del Sur still recorded the highest inflation rate in December 2022 at 8.7%, followed by Tawi-Tawi at 7.3%, Basilan at 6.6%, Sulu at 5.4%, and Maguindanao at 4.8%.Cotabato City’s inflation rate rose marginally to 5.3 percent in December, up from 4.2 percent in November.
Meanwhile, Bangko Sentral ng Pilipinas Senior Research Specialist Zarinah Aligsao said the increase in inflation rate was primarily due to external factors, including the ‘war in Ukraine’ and internal factors due to the high demand for commodities because of the yuletide season.” (BIO/PIA Lanao del Sur)
