THE inflation rate in the Northern Mindanao Region has continued to decline by the end of July this year, according to a report by the Philippine Statistics Authority (PSA) on Wednesday.
In a briefing, PSA Northern Mindanao Director Janith Aves said the July inflation rate closed at 6.4 percent, compared with 7.0 percent in June of the same year.
She said the decline in inflation for this year began in April, when it was 8.2 percent; January remains the lowest at 1.5 percent.
“Food and non-alcoholic beverages were the top contributors to the drop in inflation in July, with cereals and cereal products as major contributors,” Aves said.
She also said fish and other seafood contributed to the food and non-alcoholic beverages category with 6.7 percent.
Other top contributors include the transport sector with a 24 percent share, and housing, water, electricity, gas, and other fuel with an 18.9 percent share. (PNA)
