Home Business Central Luzon posted lowest inflation rate in PH at 3.4% — DTI

Central Luzon posted lowest inflation rate in PH at 3.4% — DTI

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Department of Trade and Industry (DTI) Provincial Director Zorina Aldana (center) proudly announced during the Kapehan with Media Partners, that Central Luzon has the lowest inflation rate in the country at 3.4%. It attributes to the high productivity of the business sector, cooperative businessmen, high infrastructure spending and the entry of more low-cost rice in the market.

CITY OF MALOLOS, Bulacan — Consumers in Central Luzon is enjoying a lower 3.4% inflation rate according to the Department of Trade and Industry (DTI)-Bulacan Provincial Office.

DTI Provincial Director Zorina ‘Rhine’ Aldana during the Kapehan with Media Partners in the city on Monday (Sept. 17), shows a data from the Philippine Statistics Authority (PSA) that the current inflation rate in the region is the lowest in the country. This is half-lower than the 6.4 inflation rate at the national level.

Inflation is an economic term which serves as a rate and parameter which the level of prices for goods and services are rising as well as the capability of the consumers on its purchasing power.

In Bulacan, Director Aldana said, among the proofs of lowest inflation rate are the availability of P38.00 per kilo of Rice in the market. Last week, various Rice millers in the province rolls-out its Tulong sa Bayan to sell as low as P38.00 commercial milled rice in Malolos, Balagtas, Bocaue, and Marilao.

Ahead of the Kapehan with Media Partners, Director Aldana inspected various public markets in the province. In Malolos City Public Market, consumers can buy P130.00 per kilo of Chicken, P200.00 per kilo of Pork meat and P300.00 to P330.00 of Beef meat. Galunggong, the leading fish of the masses, has a price of P120.00 per kilo.

DTI Regional Director Judith Angeles, during her visit to Bulacan in celebration of the Singkaban Festival, cited the high productivity of the business sector in the region that serves as the foundation of a lower inflation and stable prices of basic commodities.

“Many of the businessmen and investors here in central Luzon are very very productive, cooperative and they are not taking advantage the situation,” Angeles said.

High infrastructure spending also attributes to the lower inflation according to DTI-Bulacan with the full-blast construction of P64 billion worth of MRT 7 Project in San Jose Del Monte City. It is expected to further improve with the upcoming construction of the P106 billion worth of the North-South Commuter Railway Project, also known as Philippine National Railways (PNR) North Phase 1, from Malolos to Tutuban in Manila. In the midst of a robust construction spree in the province, the price of Cement per sack is as low as P210.00 to P230.00.

Director Aldana explained that another reason for having lower inflation in the region, particularly in Bulacan, is the existing declaration of State of Calamity.

“Low prices will continue up to the next three months as the DTI implemented price freeze, following the declaration of State of Calamity in Bulacan last August 14,” Aldana said.

She added that Governor Wilhelmino Sy-Alvarado declared a state of calamity in the entire province following the massive flooding brought by the recent Tropical Storm ‘Karding’. The declaration also provides power to the government to freeze the prices of basic commodities.

Meanwhile, Elvira Obana, provincial manager of the National Food Authority (NFA), also said in a separate forum, NFA-Bulacan is awaiting the delivery of 120,000 bags of imported Rice from the docked ship in Subic Bay International Port. At least 30 trucks are already dispatched to ferry those hundreds of thousands of bags of Rice.

Source: PIA

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