Negros Oriental Inflation Climbs to 3% in March on Fuel, Corn Supply Pressures
DUMAGUETE CITY – Inflation in Negros Oriental rose sharply to 3.0 percent in March, up from 1.8 percent in February, driven mainly by higher fuel prices and a shortage in local corn supply, according to the Philippine Statistics Authority (PSA).
PSA-Negros Oriental chief statistical specialist Ariel Fortuito said the latest figure marks a significant turnaround from the negative 0.7 percent inflation recorded in March last year.
Transport costs emerged as the biggest contributor to the increase, posting a 9.6 percent inflation rate and accounting for 63.7 percent of the overall uptick. This was followed by food and non-alcoholic beverages at 20.4 percent, and restaurants and accommodation services at 12.0 percent.
Fortuito linked the spike in transport costs to rising global fuel prices, partly influenced by tensions in the Middle East. He added that food prices remain a major inflation driver due to their essential role in household spending.
Within the food category, corn alone contributed around 10 percent to the March inflation rate. Supply constraints have worsened, with reports from the Department of Agriculture indicating dwindling corn stocks in the province.
Factors such as land conversion, adverse weather conditions, and a declining number of farmers have contributed to the shortage, further pushing prices upward.
Lower-income households were particularly affected, with inflation for the bottom 30 percent rising to 3.3 percent in March from 2.3 percent in February. This is a sharp contrast to the negative 2.0 percent recorded for the same group in March last year.
Fortuito warned that inflationary pressures may continue in the coming months as global economic uncertainties persist and continue to influence local market conditions.
NPO News Team | Philippine News Agency - PR
