Mimaropa Inflation Climbs to 5.4% in August Amid Soaring Prices

CALAPAN CITY — Inflation in the Mimaropa region accelerated to 5.4 percent in August, up from 5.3 percent in July and sharply higher than the 1.2 percent recorded a year earlier, the Philippine Statistics Authority (PSA) said. The PSA Regional Statistical Services Office in Mimaropa attributed the increase mainly to higher prices of housing-related commodities and transport, according to its Sept. 10 report. Regional Director Leni R. Rioflorido said Housing, Water, Electricity, Gas and Other Fuels posted a 6.9-percent inflation rate in August, up from 6.1 percent in July. READ: Peso slides to new record low amid persistent inflation fears Liquefied petroleum gas registered the highest inflation at 30.8 percent, while house rent rose to 4.2 percent. Electricity, meanwhile, recorded a negative 1.3-percent inflation rate. Transport continued to influence price pressures, posting a 14.7-percent inflation rate during the month. Diesel prices surged 49.4 percent, while gasoline prices increased 37.9 percent, the PSA said. Clothing and footwear was the third major contributor to regional inflation, registering a 2.9-percent inflation rate. Women’s clothing prices rose 3.6 percent, while men’s clothing increased 2.5 percent. /mcm