Mindanaotoday.com | Inflation soars to 8.9% in Camiguin, MisOr in January
By: Apipa Bagumbaran
CAGAYAN DE ORO CITY – Both Camiguin and Misamis Oriental posted an 8.9 percent inflation rate in January 2023.
Janith Aves, Philippine Statistics Office-10 OIC, said the two provinces in northern Mindanao had the highest rates of inflation.
Iligan City posted 8.6 percent inflation, Lanao del Norte had 8.4 percent inflation, Bukidnon had 8.3 percent inflation, and Misamis Occidental had 8.3 percent.
The lowest was posted in Cagayan de Oro City at 8 percent.
In terms of increases, Aves said Lanao del Norte posted the biggest increase in inflation at 2.4 percentage points from 6 percent inflation in December 2022, while Camiguin recorded the biggest decrease at 0.6 percentage point.
Overall, the inflation rate in Northern Mindanao increased to 8.4 percent in January from 7.8 percent in December 2022, placing the region in the ninth spot among the 17 regions in the country in terms of the highest inflation rates. (APB | PIA-10)
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