ANGELES City has achieved the lowest inflation rate in Central Luzon at 0.2 percent in January 2024, according to a recent report by the Philippine Statistics Authority (PSA).
The PSA record showed that Angeles maintained a stable 3-percent rate in May 2024, representing a significant decrease from the 5.9-percent inflation rate recorded in the same month last year.
The PSA data demonstrated the city’s effective economic management under the leadership of Mayor Carmelo Lazatin, Jr.
Lazatin said he was pleased that the city has achieved this positive outcome, attributing it to sustained efforts to manage economic challenges and improve the quality of life for the local residents.
“We are pleased to see Angeles City achieve this positive development which reflects our ongoing efforts to manage economic challenges effectively and improve the quality of life for our residents. We remain committed to supporting both our local businesses and the community to ensure continued economic stability and growth,” Lazatin said.
This achievement of a lowest inflation rate, Lazatin added, highlights Angeles City’s “resilience and commitment to navigate economic challenges, serving a model of stability, progress, and business-friendly environment.
Lazatin is committed to maintain economic stability and enhance living conditions in the city, and this achievement is seen as a step towards fulfilling that commitment.
The PSA report also showed that the stability of Angeles’ inflation rate was positively influenced by the restaurants and accommodation services sector which maintained a high inflation rate of 10.2 percent, reflecting a robust demand.
In addition, the food and non-alcoholic beverages category saw a slight decrease to 3.3 percent, down from 3.4 percent in April, while transportation experienced an increase to 4.7 percent, up from 3.9 percent the previous month, indicating ongoing investments in infrastructure.
Other sectors experienced upward trends in inflation, including personal care and miscellaneous goods and services, which rose to 4.1 percent from 4 percent. Information and communication increased to one percent from 0.8 percent, suggesting advancements in the sector.
Meanwhile, housing, water, electricity, gas, and other fuels saw a decrease to -1.6 percent from -2.1 percent, highlighting improvements in energy efficiency.
Among the categories which also benefited from lower inflation rates were alcoholic beverages and tobacco which decreased to 3.8 percent from 4.6 percent, while furnishings, household equipment, and routine household maintenance saw a drop to 2.8 percent.
Health services decreased to 2.5 percent, while recreation, sport, and culture also saw a reduction to 3.6 percent, indicating more stable consumer prices in these areas.
The consumer price index for Angeles in May 2024 was ₱125.4, meaning that ₱125.4 was needed to purchase goods and services worth ₱100 in 2018, up from ₱121.8 in May 2023.
The purchasing power of the peso stood at 0.8, down from 0.82 in May 2023, reflecting the ongoing efforts to maintain purchasing power in a dynamic economic environment.
