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Food cost increase in Albay relaxes

By Kim Villafuerte

Albay experienced a slowdown in the increase of food prices, contributing to the decline of the province’s overall inflation rate. Food price inflation went from 8.4% in March to 7.2% in April as reported by the Philippine Statistics Authority Albay (PSA).

The price increase for products like rice, corn meat and ready-made food as well as other food products were less in April compared to March.

The prices of fruits, nuts and sugary treats dropped compared to the previous month. On the other hand, prices for milk, dairy, and eggs went up slightly, while oils and fats increased less. Moreover, there was a small increase in terms of vegetable prices in April after a decrease in March.

According to PSA Food prices were a major factor in Albay’s overall inflation rate, which decreased to 3.6% in April from 4.1% in March. Food inflation accounted for 75.1% of the overall inflation rate, with rice and other grain products being the largest contributors. The slowdown in food price increases is a relief for Albayano consumers who have faced higher food costs for the past few years.

The province expects this decline in food costs to continue, preventing another increase in inflation.


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