Mindanaotoday.com | Iligan City records lowest inflation rate in March 2023
By: Apipa Bagumbaran
CAGAYAN DE ORO CITY – The city of Iligan posted the lowest rate of inflation among the highly urbanized cities and provinces in Northern Mindanao in March 2023.
According to the Philippine Statistics Authority-10 (PSA-10), Iligan recorded an inflation rate of 5.8%, a decline of 2.3 percentage points from the 8.1% rate posted in February.
The same slowdown was also recorded in Lanao del Norte from 8.4% to 6.1%.
Cagayan de Oro City likewise registered a lower inflation rate in March at 6.5% from the February record of 7.5%.
Only Misamis Oriental posted an increase in inflation in March at 0.1 percentage point, that is, from 8.2% in February to 8.3% in March 2023, said PSA-X Chief Statistical Specialist Sarah Balagbis.
The highest inflation rate, on the other hand, was recorded in Camiguin at 8.6%.
Meanwhile, the inflation rate in Bukidnon and Misamis Occidental remained at 8.5% and 7.6%, respectively.
Overall, the regional inflation rate decelerated to 7.4% in March from 8.0% in February. (APB | PIA-10)
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