CAR inflation rate lower

CORDILLERA recorded lower inflation rate compared to the country based on the Third Quarter Regional Economic Situationer presented by the National Economic and Development Authority (NEDA) in the region.

The region posted 4.4 percent overall inflation rate which is lower the national inflation rate of the same period at 6.3 percent.

Kalinga had the highest inflation rate in the region at 8.8 percent while Benguet had the lowest with 4.4. Overall, all provinces in the Cordillera region had higher inflation rates compared to the same period last year. Kalinga and Apayao had significant hikes in inflation rates, both of which climbed to six and 8.2 percentage points, respectively.

Among the commodities, the highest inflation rate is from alcoholic beverages and tobacco with 20.6 percent. Health and transport came in second highest with 6.4 and 5.9 percent, respectively. Communication had the lowest inflation with prices barely rising at 0.1 percent.

Education had a negative inflation rate of 1.3 percent.

In terms of production, vegetables and corn have declined as compared to the same quarter last year. Vege-

table production decreased from 57,609 metric tons to 51,433 metric tons.

These numbers may have contributed to the high inflation rate of 21.8 percent for vegetables and 22.5 percent for corn.

Employment rate remain high at 95 percent, but lower compared to the same period last year where the rate was 96.6 percent.

Some 280 workers have been retrenched or displaced during the third quarter. There were 112 workers from mining and gold exploration while 92 were from the services sector. Another 62 and 14 workers were retrenched or displaced from construction and hydroelectric power generation, respectively.