The Philippine Statistics Authority (PSA) in Romblon has reported a significant drop in the province’s inflation rate for January 2025 compared to the same period last year, signaling a more stable economic environment for local consumers.
According to PSA data, Romblon recorded an inflation rate of just 0.7 percent, a sharp decline from previous levels, driven by lower inflation across at least five major commodity groups. The current inflation rate is also substantially lower than the national average of 2.9 percent and the MIMAROPA region’s 2.4 percent, indicating that price increases in the province are under control compared to other areas.
PSA Romblon Supervising Statistical Specialist Engr. Dandy Fetalvero attributed the lower inflation rate to decreasing costs in key sectors, including energy, health services, and household necessities. This decline suggests better price management and supply stability in essential goods and services within the province.
Several essential goods and services experienced reduced inflation this month. The inflation rate for housing, water, electricity, gas, and other fuels dropped to 3.8 percent from 4.5 percent in December 2024, reflecting a decrease in energy costs and utility prices. The health sector recorded a 0.7 percent inflation rate, lower than the 1.8 percent recorded in December last year, potentially due to stable medical supply chains and government healthcare support programs.
Furnishings, household equipment, and routine household maintenance registered a 1.2 percent deflation, compared to 0.8 percent inflation in December 2024. Meanwhile, alcoholic beverages and tobacco saw inflation drop to 0.7 percent from 1.7 percent, and clothing and footwear recorded a lower inflation rate of 0.2 percent, down from 0.6 percent in December last year.
Some sectors maintained stable prices. The inflation rate for information and communication remained at 0.1 percent, while education services recorded 0 percent inflation, indicating stable tuition and school-related expenses. Personal care and miscellaneous services posted a slight deflation of 0.2 percent, suggesting lower costs in beauty, hygiene, and other personal services.
The declining inflation rate is expected to benefit consumers by maintaining lower price increases for essential goods, improving purchasing power, and potentially boosting local economic activity.
Fetalvero believes that the trend may continue if supply chains remain stable, government programs continue to support essential sectors, and external economic factors remain favorable.
The PSA said that the new data was already been shared to the local government units in the province.
