ROMBLON INFLATION. Chief statistical specialist Johnny Solis reported in a press conference Friday (June 14, 2024) that inflation in Romblon in May stood at 5.6 percent, unchanged from its April level. Food and non-alcoholic beverages remained the top contibutors to price pressures. (Video grab courtesy of Philippine Statistics Authority-Romblon)
ODIONGAN, Romblon – Headline inflation in this province remained at a moderate 5.6 percent in May, unchanged from the previous month, as volatility in some heavily weighted items apparently tapered off.
In a press conference on Friday, Philippine Statistics Authority (PSA) – Romblon chief Johnny Solis pointed out that inflation last month was markedly lower than the 6.9 percent recorded in May 2023, when the country was still shrugging off an inflation surge that began in the fourth quarter of 2022.
He told reporters that average inflation in the first five months of 2024 now stands at 6.2 percent.
“As far as overall inflation is concerned, the commodity group that contributed most to inflation was food and non-alcoholic beverages that posted 7.7 percent inflation… representing 73.6 percent share in overall inflation,” Solis said in Filipino.
It can be recalled that in April, inflation in food and non-alcoholic beverages was recorded at 7.6 percent.
Last month, rice still led the food items that contributed most to price pressures with 31.7 percent inflation while meat followed at a distant 3.4 percent.
Solis also pointed out that May inflation in the transportation segment backtracked to negative territory, at minus 0.1 percent, owing to the relative stability in the prices of petroleum products.
Romblon’s 5.6 percent inflation was the second highest in the Mimaropa Region in May this year, the PSA reported.
It was second only to Occidental Mindoro, which posted a lofty 9.4 percent inflation last month.
Price pressures in Occidental Mindoro in May can be attributed to a large degree to the severe impact of the El Niño dry spell into the year’s second quarter, which proved ruinous to crops.
At the opposite end of the spectrum, Marinduque posted the lowest May inflation at 1.9 percent, according to Solis.
Inflation in the five-province Mimaropa Region was recorded at 4.6 percent last month. (PNA)
