LEGAZPI CITY – Inflation rate in the region dropped to 1.6 percent in April from 2.1 percent in March, and 3.7 percent in April last year, according to the Philippine Statistics Authority in Bicol office (PSA-5)

It was the region’s lowest inflation rate since November 2019, which recorded 1.2 percent.

The downtrend in the overall inflation in April was primarily brought about by the slower annual increment in the index of food and non-alcoholic beverages at 0.9 percent in April from 1.5 percent in the previous month; and housing, water, electricity, gas and other fuels at 2.5 percent from 3.0 percent in the previous month.

Another contributor to the downtrend was the faster year-on-year decrease in the transport index at 1.7 percent during the month from a 0.7 percent annual drop in March.

“The price dropped probably due to demand and production factors. When production increases, prices are more likely to go down. For other items like fish, good weather conditions help boost production as well. And we know that cereals, like rice and cereal products, have decreased in price,” PSA-5 Director Cynthia Perdiz said during a press conference at the agency’s regional office here.

Inflation also dropped in all six provinces in Bicol in April, she added.

Albay recorded an inflation of 1.9 percent; Camarines Norte, 1.2 percent; Camarines Sur, 1.4 percent; Catanduanes, 3.3 percent; Masbate, 1.8 percent; and Sorsogon, 1.3 percent.

DPWH PHOTO