PSA-Guimaras Hosts Inflation Forum with LGUs, NGAs

The Philippine Statistics Authority (PSA) Guimaras Provincial Statistical Office, with support from local government units (LGUs) and national government agencies (NGAs), successfully conducted its first inflation data dissemination event for 2025 on January 16, 2024, via an online platform.

The forum provided insights into Guimaras’ December 2024 inflation rate and brought together over 30 representatives from government and private sectors to discuss economic trends and challenges in the province.

Provincial Statistics Officer Nelida B. Losare led the presentation, revealing that Guimaras’ inflation rate for December 2024 stood at 2.8%. She noted that this increase was driven primarily by rising costs of food, transportation, and housing. Guimaras’ average inflation rate for 2024 exceeded both national and regional levels.

Losare also presented inflation data for Guimaras from 2001 to 2024, highlighting that the lowest inflation rate occurred in 2015.

She concluded with insights on inflation’s impact on low-income households. The inflation rate for the Bottom 30% Income Group in December 2024 was 4.3%, with an average rate of 6.6% throughout 2024. Rising food and transportation costs were identified as key factors significantly affecting vulnerable sectors.

Participants actively engaged in the discussion, raising concerns and questions about inflation’s effects on residents.

Deputy Provincial Fire Marshal/Chief Admin Operations Danilo Q. Animas Jr. of the Bureau of Fire Protection inquired about the consistency of price data collected in December and government mechanisms for monitoring rapidly fluctuating prices of key commodities like fish and meat during special occasions.

Losare explained that PSA collects monthly prices for commonly purchased goods and bi-weekly data for petroleum products to compute the year-on-year change. She asked Department of Trade and Industry (DTI) participants to elaborate on price monitoring and regulation efforts.

DTI Officer-in-Charge Juvy Benliro shared that the department monitors prices of selected commodities to protect consumers. Trade and Industry Development Specialist Melecia Paet added that while DTI monitors processed and manufactured goods, the Department of Agriculture oversees prices for fish, meat, and live products.

Benliro also asked whether all provinces in the Philippines experienced negative inflation in 2015, similar to Guimaras.

Losare explained that in 2015, many provinces recorded slower inflation due to decreased crude oil prices, oversupply, and lower food costs from adequate supply. The national average inflation rate that year was 0.7%, one of the lowest since 2001.

As the forum concluded, Losare expressed gratitude to the agencies and participants for supporting the PSA’s initiatives, especially the inaugural inflation data dissemination for 2025.

She encouraged continued collaboration to mitigate inflation’s impact and promote sustainable growth in Guimaras.