Northern Mindanao inflation decreased to 7.4 percent in March 2023, from 8.0 percent in February 2023. The inflation rate in March 2022 was lower at 4.3 percent. (Table A)
Table A. Year-on-Year Inflation Rates for All Items, Northern Mindanao:
March 2022, February 2023, and March 2023
(In percent, 2018=100)
Among the provinces in the region, only Misamis Oriental (8.3%) posted higher inflation rate in March 2023 compared to February 2023, while Camiguin (8.6%) and Lanao del Norte (6.1%) registered lower inflation rates. Meanwhile, Bukidnon (8.5%) and Misamis Occidental (7.6%) had unchanged inflation rates in the month of March 2023. On the other hand, the City of Iligan (5.8%) and the City of Cagayan de Oro (6.5%) had lower inflation rates in March 2023 than the previous month.
(SGD.)JANITH C. AVES, CE, DM
(Chief Statistical Specialist)