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HomeAdvertisementsBARMM sustains record for lowest inflation rate in October; ties with Region...

BARMM sustains record for lowest inflation rate in October; ties with Region 12

BY  ASANGAN T. MADALE

MARAWI CITY: The Philippine Statistical Authority (PSA) said the Bangsamoro Autonomous Region in Muslim Mindanao has maintained its records as the region
with the lowest inflation rate nationwide at 6.5 percent. It was also reported that BARMM tied with Region Xll or SOCCSKSARGEN with the same rating for
October 2022.

As posted in the BARMM Regional Information Office, to recall, the regions inflation rate in the previous month of September 2022 was recorded at 6.0 percent
increase in October. In the case of Cordillera Administrative (CAR) recorded the second lowest inflation rate at 6.6 percent and Region IV-A or CALABARZON
was the third region with the lowest inflation rate at 6.9 percent while Region -Xl or Davao Region got the highest inflation rate at 9.6 percent, PSA reported.

The headline inflation rate in the entire Philippines slightly rose to 0.9 at 7.7 percent from 6.9 percent compared to the previous month of September 2022.

According to Director Engr. Akan Sula, PSA-BARMM Officer-in-Charge “the fast acceleration of inflation rate in the Bangsamoro region was primarily due to
to the contribution of food and non-alcoholic beverages at 8.4 percent housing ,water, electricity ,gas and other fuels at 3.4 precent; and restaurants and
accommodation services at 6.4 percent “

Among the provinces in BARMM, Lanao Del Sur recorded the highest inflation rate at 9.4 percent followed by Basilan at 7.0 percent , Sulu at 6.4 percent,
Tawi-Tawi at 5.3 percent , and Maguindanao with lowest inflation rate at 4.6 percent this month , Sula said

Meanwhile, Cotabato City has maintained its record with the lowest inflation rate in the entire Bangsamoro area at 3.6 percent , Sula added.

An analysts a retired faculty of the MSU main campus cited before the speech of Lanao Del Sur governor Mamintal A. Adiong Jr who said that in economics,
inflation is a general increase in prices of goods and service s in an economy, when the general price level rises , each unit of currency buys fewer good and
services, consequently ,inflation corresponds to a reduction in the purchasing power of money.

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