Northern Mindanao inflation rate slows down to 3.1%
Inflation rate in Northern Mindanao slowed down to 3.1 percent in January 2024, thanks to a decline of prices of fish, meat and other food commodities.
Janith Aves, officer-in-charge of the Philippine Statistics Authority in Region 10, said other contributary factors to the downtrend of the inflation rate are the prices of housing , water and electricity.
Ferdinand Caraballe, supervising agriculturist at the Department of Agriculture, however, said the incoming dry season and El Niño could spike the prices for rice in Northern Mindanao.
Region 10 or Northern Mindanao comprises the provinces of Misamis Oriental, Misamis Occidental, Lanao del Norte, Bukidnon, and Camiguin.
It has two highly urbanized cities (Cagayan de Oro and Iligan), seven constituent cities, and 84 municipalities.
