Headline inflation in Romblon remained steady at 5.6% in May, unchanged from April, the Philippine Statistics Authority (PSA) – Romblon chief Johnny Solis announced on Friday.
Solis highlighted that May’s inflation rate was significantly lower than the 6.9% recorded in May 2023, when the country was dealing with an inflation surge that began in late 2022. The average inflation for the first five months of 2024 now stands at 6.2%.
Solis noted that food and non-alcoholic beverages were the primary contributors to the inflation rate, with a 7.7% inflation rate, representing a 73.6% share of the overall inflation. In April, inflation for this category was slightly lower at 7.6%.
Rice continued to be the leading food item contributing to price pressures, with an inflation rate of 31.7%, followed by meat at 3.4%.
Solis also mentioned that the transportation segment experienced a deflation of 0.1% in May due to stable petroleum product prices.
Romblon’s inflation rate of 5.6% was the second highest in the Mimaropa Region, trailing only Occidental Mindoro, which posted a 9.4% inflation rate in May.
Overall, the inflation rate for the Mimaropa Region was recorded at 4.6% last month. (with reports from Miguel Gil of the Philippine News Agency)
