Cordillera inflation in May slows down to 6.8 percent

Beans are some of the salad vegetables grown in Benguet province, which measured a slowdown in inflation in May with 5.3 percent rate last month down from 5.7 percent in April. (Photo from BENGUET AGRIPINOY TRADING CENTER and VINCENT CABREZA)

BAGUIO CITY—Inflation in the mountainous Cordillera finally eased to 6.8 percent in May from a steep 7.6 percent in April.

This is due in part to the industry cap on diesel and gasoline prices last month that helped slow down upland food prices.

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The report comes from the Philippine Statistics Authority on Monday (June 15).

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Aldrin Federico Bahit Jr., PSA chief statistician for the Cordillera, said transport inflation – including freight, which has a direct impact on most commodities – slid down to 17.1 percent in May from 24.6 percent in April.

This happened when diesel dropped to a 53.4 percent inflation rate last month.

The region suffered a 101.4 percent inflation in April following the US-Israeli attack on Iran that began at the end of February.

The inflation briefing coincided with the latest announcement that a peace deal has been reached and that American President Donald Trump had ordered the reopening of the Strait of Hormuz where the Asia-bound oil tankers navigate.

Gas prices in the indigenous Filipino-dominant region have also dropped, leading to a reduced 49 percent inflation in May from 54 percent inflation in April. /apl

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