Both Puerto Princesa and the province of Palawan continue to have high inflation rates, with the province registering a constant 9.9 percent in December and the capital at 7.9 percent.
Maria Lalaine Rodriguez, the chief statistical officer at the local Philippine Statistical Office (PSA), the current rate may have an impact on local wage earners depending on the commodities and services they use. Rodriguez added that the inflation rates in Puerto Princesa and Palawan in December 2022 differed significantly from those in December 2021.
“It will really greatly depend kung anong commodities ang inyong bibilhin. Kung halimbawa ang binibili mong commodities o produkto ay same sa usual na iyong binibili at ang ating inflation rate ay hindi tumaas, the same din na mabibili mo na produkto. Pero kung tumaas, syempre mas kukunti. Naaapektuhan ang iyong earnings, mas bumilis ang pagtaas,” Rodriguez said.
Based on the PSA’s monitoring, Palawan maintained its inflation rate from November 2022 but shot up five times higher than the December 2021 inflation rate.
The inflation rate in December 2022 were driven by food and non-alcoholic beverages at 13.6 rate from rice, fish and other seafood, and sugar, confectionery and dessert.
It was followed by housing, water, electricity, gas, and other fuels at a 4.9 percent inflation rate from electricity, rentals, and liquid fuels. The third major contributor were restaurants and accommodations services at 9.4 rate from restaurants, café and the like, and accommodation services.
In Palawan, the rates of inflation for commodity services such as education and financial services have remained unchanged.
On the other hand, Puerto Princesa decelerated at 7.9 percent in December from 8.6 percent in November 2022. However, it is almost four times over the 1.8 percent recorded December 2021.
It was driven by the lower annual increment in transport at 8.1 percent from fuel and lubricants for personal transport equipment, passenger transport by air, and parts and accessories for personal transport equipment.
It is followed by food and non-alcoholic beverages at 11.5 percent from fish other seafood, meat and other parts of slaughter land animals, and sugar, confectionery and desserts.
The third main source of deceleration in the city was personal care, and miscellaneous goods and services at 7.6 percent. It was contributed by the other appliances, articles and products for personal care, and other personal effects.
National Statistician and Civil Registrar General Usec. Dennis Mapa in a previous press briefing reported that the country recorded 8.1 percent, which was the highest since November 2008.
The region of MIMAROPA is one of the 11 regions outside the National Capital Region, which showed an increase in inflation rate. The region recorded 8.9 percent in December 2022 from 8.6 in November 2022.
Palawan has the second highest rate in the region following Oriental Mindoro with 10.5 percent. The city of Puerto Princesa ranks fifth, PSA record shows.
“Maaapektuhan siya dahil yong purchasing power ng ating peso ay bababa kapag tumaas ang ating inflation. Kasi ang dati na kaya mo bumili ng ganito karami, kaunti na lang ang mabibili, ang kakayahan mo na bumili ng basic needs,” Rodriguez further explained the impact of inflation to locals.
Rodriguez further explained that PSA is not in the position to predict the possible trend of inflation rate in January 2023 as the agency also updates its market baskets. PSA updates the market baskets annually to see what are those commodities used to based the canvassing of prices on are still existing or have changed.