CAGAYAN DE ORO CITY – The Philippine Statistics Authority (PSA)-10 reported that the headline inflation rate in Northern Mindanao for December 2024 was 2.6 percent, down from 4.8 percent in December 2023 and 2.7 percent in November 2024

PSA-10 Regional Director Janith Aves attributed the slowdown mainly to lower inflation in food and non-alcoholic beverages, which dropped to 1.8 percent in December from 2.9 percent in November.

Key food categories, including cereals, meat, and dairy, showed slower price increases in December. Cereal inflation fell from 6.0 percent in November to 2.2 percent, while meat inflation dropped from 2.1 percent to 1.3 percent.

Alcoholic beverages and tobacco also contributed to the decline, with inflation dropping to 7.7 percent in December from 8.2 percent in November. Meanwhile, cigarettes and spirits experienced slower price increases.

Health-related services also recorded a minor inflation reduction, from 5.7 percent in November to 5.6 percent in December, due to slower price hikes in inpatient services, medicines, and diagnostic products.

“The key contributors to the overall inflation in Health were inpatient curative and rehabilitative services, with an inflation rate of 12.5 percent in December 2024, slower than the 12.9 percent in November 2024. Medicines, vaccines, and other pharmaceutical preparations recorded an inflation rate of 3.2 percent, a decrease from 3.3 percent in November 2024. Medical diagnostic products had an inflation rate of 5.3 percent in December 2024, compared to 6.1 percent in the previous month,” Aves explained.

The Department of Health (DOH)-10 noted possible reasons for the rising costs of medicines, vaccines, and other pharmaceutical preparations.

Jovita Sarip, Statistician II of DOH-10, pointed out that transport costs for medicines and vaccines are potential factors. She mentioned that maintaining the cold chain, essential for preserving vaccine efficacy, likely contributes to higher costs. (Apipa P. Bagumbaran/PIA-10)