Mindanaotoday.com | Inflation rate in Sarangani, Gensan grows in August 2022
By: Catherine Apelacio
GENERAL SANTOS CITY – The Philippine Statistics Authority (PSA) Sarangani Provincial Statistical Office says inflation rate in General Santos jumped 7.9% in August this year, up by 0.2% from July’s 7.7% and is way higher than the 5.5% from the same month a year ago.
This, the PSA reported during a press conference here Monday (Sept. 12) on the August 2022 Inflation for Sarangani and General Santos City.
PSA XII Regional Director Atty. Maqtahar Manulon, in his message, described inflation as “very important topic to know so that we can monitor the movement of prices that might affect the citizens, our colleagues, and our kababayan in the province.”
He said that through (this) dissemination activity, PSA will be able to provide accurate information regarding the price situation if it has moved drastically or stayed the same.
Manulon, however, said that inflation “would really be dependent on the input or the movement of commodities in the international market.”
Welcoming participants to the press conference, PSA SarGen Provincial Statistics Officer Ismael Ramos Jr. cited the importance of understanding how inflation works and its overall impact to the people in general.
In his report, Ramos said that inflation is equivalent to annual rate of change on the prices of goods and services in the market.
He said General Santos City inflation has risen to 7.9% in August this year, higher than the 6.6% regional and 6.3% national levels inflation.
“The August average inflation, however, for all items from January to August 2022 stood at 6.2%,” he said, adding that the rest of the commodity groups in his report have maintained their inflation rates status from previous month.
According to him, the upward trend was caused by the increased growth rate in the index of food and non-alcoholic beverages that peaked at 9.2% in August from 8.5% in July. (PIA-12)
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