Ilocos Region Reports Decrease in Inflation Rate to 3.7% in October

Ilocos Region – The Ilocos Region reported a decrease in its inflation rate to 3.7 percent in October, down from 5.1 percent in the previous month. This decline, primarily attributed to slower increases in food prices, aligns with the national headline inflation trend. Camille Carla Beltran, Chief Administrative Officer of the Philippine Statistics Authority Ilocos Region, provided these details in a statement released on Friday.

According to Philippines News Agency, the food index in the region slowed to 9.3 percent from September’s 13.2 percent.

Specifically, lower annual increments were observed in categories including cereals, meats, dairy products, vegetables, and ready-made food. However, there were higher rates in health, transport, recreation, and cultural indices. Beltran noted that the provinces within the region exhibited varied inflation rates, with Pangasinan recording the highest at 5.0 percent, followed by La Union at 4.6 percent. Ilocos Norte and Ilocos Sur showed significantly lower rates of 1.2 percent and zero percent, respectively. The region overall experienced a noticeable slowdown in inflation compared to September.