Saturday, March 22, 2025

Tag: Inflation

Northern Mindanao posts 2.9% inflation in January 2025

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CAGAYAN DE ORO CITY (February 18, 2025) — Northern Mindanao’s inflation rate for January 2025 increased to 2.9 percent, rising by 0.3 percentage points from the previous month’s rate of 2.6 percent, according to the Philippine Statistics Authority (PSA)-10

PSA-10 Regional Director Janith Aves explained that rising prices in food, non-alcoholic beverages, transport, restaurants, and accommodation services primarily caused the region’s inflation increase.


Food and non-alcoholic beverages experienced an inflation rate of 2.4 percent in January 2025, increasing from 1.8 percent in December 2024. This change resulted mainly from higher costs of fish and seafood, vegetables, and meat.


Transport inflation rose to 5.4 percent from 5.0 percent in December 2024.


“The rise mainly resulted from gasoline and diesel prices, which shifted to -0.3 percent from -2.0 percent and -2.5 percent from -6.4 percent, respectively,” she said.


In restaurants and accommodation services, inflation reached 3.8 percent, increasing from 3.3 percent in the previous month. The rise occurred primarily due to higher prices in restaurants, cafes, and similar establishments, which showed an inflation rate of 3.8 percent, up from 3.2 percent. Hotels, motels, inns, and other accommodation services recorded an inflation rate of 5.1 percent, rising from 5.0 percent in December.


The region’s inflation rate in January 2025 matched the national inflation rate, which stood at 2.9 percent. However, the inflation rate differed across various areas in Northern Mindanao. Misamis Oriental recorded the highest inflation rate at 5.3 percent, while Lanao del Norte had the lowest at 0.6 percent.


Aves stated that these inflationary trends play a crucial role in understanding regional economic conditions and will continue to be closely monitored to support informed decisions and policies.

(APB/PIA-10)

P23 minimum wage hike in Northern Mindanao takes effect

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CAGAYAN DE ORO CITY — The daily minimum wage in Northern Mindanao increased by P23 for private non-agricultural workers starting January 12, 2025. Agricultural workers also received a P23 increase on the same date, with an additional P12 effective July 1, 2025, bringing the total increase to P35

This means that by July this year, the minimum wage for both non-agricultural and agricultural workers will be the same: P461 for Wage Category 1 and P446 for Category 2.
Wage Category 1 includes the cities of Cagayan de Oro, Iligan, Malaybalay, Valencia, Gingoog, El Salvador, Ozamiz, and the municipalities of Tagoloan, Villanueva, Jasaan, Opol, Maramag, Quezon, Manolo Fortich, and Lugait.
Meanwhile, Wage Category 2 covers all areas outside Wage Category 1, as well as retail and service establishments that employ no more than 10 workers.
In a press conference of the Regional Tripartite Wage Board (RTWPB) Region 10, chaired by the Department of Labor and Employment (DOLE)-10, this minimum wage rate adjustment for the private sector in Northern Mindanao, under Wage Order No. RX-23, underwent a series of wage consultations and public hearings attended by representatives from both the workers’ and employers’ sectors.
“We took into consideration the poverty threshold in Region 10. When we say poverty threshold, that’s the minimum income required to meet the basic needs of our people,” said Mylah Faye Aurora B. Cariño, vice chairperson and regional director of the National Economic Development Authority (NEDA)-10.
Limuel R. Oliverio, a labor representative of the Mindanao Alliance of Land Transport Unions (MALTU), shared that they have come up with this increase to ensure a compromise between employers and workers.
“We have to balance because small establishments should at least be able to cope and maintain jobs. If we want, we can go beyond P461, but it should not go below P461,” Oliverio said.
Meanwhile, Engr. Milbert M. Macarambon, a labor representative from the All Workers Alliance Trade Unions-Trade Union Congress of the Philippines (AWATU-TUCP), explained that they went through a consultation process involving both the labor and management sectors.
“The inflation rate was also discussed and is one of the criteria used for issuing the wage order,” he said.
Similarly, domestic workers, or Kasambahay, in Region 10 will receive a P1,000 increase, raising the minimum monthly wage from P5,000 to P6,000, as mandated by Wage Order RBX-DW-05.
Atty. Joffrey M. Suyao, chairperson and regional director of DOLE 10, announced that starting January 12 this year, the new monthly minimum wage for domestic workers cannot be less than P6,000.
Domestic workers, or Kasambahay, cover general house helpers, cooks, nannies, gardeners, laundry persons, or anyone who regularly performs domestic work in one household on an occupational basis. Those not covered include service providers, family drivers, and children under foster family arrangements. (Jasper Marie O. Rucat/PIA-10)

NorMin logs 8.4% inflation in Jan., ranks 9th in PH

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CAGAYAN DE ORO CITY – Northern Mindanao’s inflation rate rose to 8.4% last month, placing the region in the ninth spot nationwide, the regional office of the Philippine Statistics Authority (PSA) said on Feb. 17, 2023

During a media forum here, PSA 10 (Northern Mindanao) Officer-in-Charge Janith Aves said January’s inflation was higher than December 2022’s 7.8 percent and January 2022’s 4.5 percent with food and non-alcoholic beverages mainly accounting for the increase.

“The rise of onion prices was recorded in this period (January 2023) and is one of the major contributors (to the inflation), which was part of the vegetables, tubers, plantains group,” she said.

Under the food and non-alcoholic commodity group, the region’s inflation rate jumped to 12.1 percent, from 7.8 percent in December 2022 and 4.5 percent in January 2022.

Aves said in the region, the provinces of Camiguin and Misamis Oriental registered the highest inflation rate per province with 8.9 percent.

“Camiguin may be the highest for January but it experienced a decrease from its 9.5 percent inflation in December 2022,” she said. Camiguin’s inflation rate in January 2022, however, was 5.3 percent, according to PSA-10 data.

This city has the lowest inflation rate with 8 percent, compared to 8.2 percent in December 2022 and 4.2 percent in January 2022.

Among the 13 main commodity groups where PSA is getting the overall inflation, the financial services sector had zero percent inflation in the region for both January 2023 and December 2022.

Compared to January 2022, the financial services were the highest among the commodity groups with a 45.2 percent inflation rate. (Nef Luczon/PNA)