By Matthew Go
Palawan province and Puerto Princesa City recorded the lowest inflation rates in the Mimaropa region for November 2024, according to data released Tuesday by the Philippine Statistics Authority (PSA).
Palawan posted a 1.7% inflation rate, down from 2.3% in October 2024 and 5.5% in November 2023. Puerto Princesa recorded 3.0%, a decline from 4.0% in October and 4.3% in the same period last year.
Other areas in Mimaropa experienced higher inflation, driven by steeper price increases for goods and services. PSA Palawan Officer-in-Charge and Supervising Statistical Specialist Donna Marie Mobe attributed the lower inflation in Palawan and Puerto Princesa to several factors, including modest price hikes in key commodities such as pig meat.
“Prices vary across locations, and we don’t see a clear inflation pattern. In Palawan, food prices remain a key driver,” Mobe said in Filipino.
Mobe explained that inflation trends were influenced by mixed price movements in the Food and Non-Alcoholic Beverages category. Slower price increases in cereals, seafood, and dairy products helped temper inflation, while rising costs of meat, fruits, nuts, and vegetables, including onions and shallots, contributed to inflationary pressures.
“Meat production, particularly pig meat, decreased in November, and vegetable yields also dropped, driving up demand,” Mobe noted.
She added that heightened economic activity during the holiday season and several sports events in Puerto Princesa also impacted inflation trends.
Inflation in the Transport category rose by 3.1% in Puerto Princesa and 4.4% in Palawan. While gasoline prices were consistent across the province, transport costs in Palawan were higher due to longer travel distances.
“In Palawan, transport pricing differs significantly from Puerto Princesa because of greater fuel consumption for longer trips. Every centavo counts, and the rates vary across locations,” Mobe said.
The PSA report highlighted the localized nature of inflation trends in Palawan and Puerto Princesa, shaped by unique economic activities, commodity supply fluctuations, and logistical differences.