Inflation in Marinduque climbs to 9.2 percent in Jan 2023

BOAC, Marinduque — In the latest data issued by Philippine Statistics Authority (PSA), the inflation rate in the province of Marinduque increased by 0.1 percent from previous statistics of 9.1 in December 2022.

According to Chief Statistical Specialist Gemma N. Opis, the main sources of this uptrend were driven by the combined acceleration of the prices in personal care with 6.9 percent, miscellaneous goods and services such as shoes with 60.2 percent, garments 3.8 percent, clothing accessories 17.1 percent, stationary and drawing materials with 8.4 percent and books with 4.7 percent.

Furthermore, Opis explained that food such as meat, vegetables and cereal products with a total of 14.8 percent, transport and housing, water, electricity, gas and other fuels were major contributors of the January inflation rate.

“We are regularly conducting surveys based on the consumer price index of the following items in the market to determine the total inflation rate and as of January 2023, 9.2 percent report was documented,” Opis added.

Meanwhile, the province’s purchasing power of peso decreased by 0.1 percent compared to the December 2022 data of 0.79 percent.

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