The stabilization of fuel prices in the local market has resulted in a slowdown in the inflation rate in both Palawan and Puerto Princesa for the month of May.
Based on the monthly report from the Philippine Statistics Authority (PSA) in Palawan, the transportation sector has emerged as the top commodity group that has experienced a decrease in both the city and province. It contributed -4.3 percent in Palawan and -2.4 percent in Puerto Princesa.
Maria Lalaine Rodriguez, the chief statistical specialist of PSA Palawan, explained that the contributing factors to this decline are the prices of fuels and lubricants for personal transport equipment, passenger transport by sea and inland waterways, and passenger transport by air.
“Nagpakita ng mabagal na pagtaas ng bilihin, kasama doon ang fuel and lubricants, particularly gasoline and diesel, so hindi siya masyadong tumataas. Kung tumaas man ay bigla siyang bababa, we also monitor [ang] ating fuels on a weekly basis,” she said.
Palawan recorded a rate of 6.5 percent in May, down from 6.9 percent in April, which is lower than the 7.6 percent recorded in May 2022.
The next contributing commodity group is personal care and miscellaneous goods and services at 7.8 percent, followed by alcoholic beverages and tobacco at 10.7 percent.
In Puerto Princesa, the inflation rate slowed down to 4.2 percent from 4.6 percent in April. The current rate is lower than the 7.3 percent recorded in May 2022.
After the transport commodity group, the next contributing group is food and non-alcoholic beverages at 4.6 percent and alcoholic beverages and tobacco at 13.5 percent.
The PSA observed that both alcoholic beverages and tobacco slowed down in Palawan and Puerto Princesa, as the baskets of goods did not move during the canvassing of prices.
“Ang cigarettes ay hindi siya masyadong gumalaw, nagbawas pa ng presyo. Ang spirits and liquors, ang mga alak at wine. Ang basket of goods ng alcoholic beverages and tobacco ay hindi masyadong gumalaw ang presyo,” she said.
Meanwhile, the MIMAROPA region also slowed down in May to 7.2 percent from 7.8 percent. It is still higher than the 5.3 percent in May 2022. Aside from Palawan and Puerto Princesa, Oriental Mindoro at 8.8 percent and Occidental Mindoro at 7.5 percent both showed slower inflation rates in May.
In contrast to the other four areas, the provinces of Romblon and Marinduque showed acceleration at 6.9 percent and 8.4 percent, respectively.
