NEGROS ORIENTAL — The province of Negros Oriental recorded a significant drop in headline inflation to 3.4 percent in July, down from 4.2 percent in June, marking the lowest rate observed so far this year.

According to Philippines News Agency, Chief Statistical Analyst and head of the Philippine Statistics Authority (PSA) in Negros Oriental, the decrease was primarily influenced by lower prices in the housing, water, electricity, gas, and other fuels sector. Fortuito highlighted during a press briefing on Friday that the reduction in gasoline prices along with water and electric bills played a key role in this decline, suggesting a stabilization in essential living costs.

In addition to these sectors, alcoholic beverages, tobacco, clothing, and footwear also contributed to the subdued inflation figure. Conversely, areas such as food and non-alcoholic beverages, transport, and education services experienced higher inflation rates.

Fortuito further noted that several commodity groups have maintained consistent inflation rates, including information and communication; furnishings, household equipment, and routine maintenance; restaurants and accommodation services; financial services; and personal care and miscellaneous goods.

This July’s inflation rate is the lowest since the same month in 2023, with the province’s highest inflation rate this year recorded in March at 4.5 percent. Comparatively, last year’s lowest inflation rate was 5.4 percent in November, while the peak rate reached 7.1 percent in September.