ANGELES CITY – This urban center recorded the lowest inflation rate of 0.2% in the whole of Central Luzon in January 2024, to a recent report from the Philippine Statistics Authority (PSA).
The same report shows that the city has maintained a stable 3% rate in May 2024, which represents a significant decrease from the 5.9% inflation rate recorded in the same month last year, demonstrating the city’s effective economic management under the leadership of Mayor Carmelo “Pogi” Lazatin, Jr.
“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,” enthused Lazatin. “We remain committed to supporting both our local businesses and the community to ensure continued economic stability and growth.”
This achievement of the lowest inflation rate, Lazatin added, highlights Angeles City’s resilience and commitment to navigate economic challenges, serving a model of stability and progress and business-friendly.
The development marks one more manifestation of the fulfillment of a campaign promise of Lazatin 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 showed that the stability of the inflation rate was positively influenced by the Restaurants and Accommodation Services sector which maintained a high inflation rate of 10.2%, reflecting a robust demand.
In addition, the Food and Non-alcoholic Beverages category saw a slight decrease to 3.3%, down from 3.4% in April, while Transportation experienced an increase to 4.7%, up from 3.9% the previous month, indicating ongoing investments in infrastructure.
Certain categories experienced upward trends in inflation, including Personal Care and Miscellaneous Goods and Services, which rose to 4.1% from 4%. Information and Communication increased to 1% from 0.8%, suggesting advancements in the sector.
Meanwhile, Housing, Water, Electricity, Gas, and Other Fuels saw a decrease to -1.6% from -2.1%, 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% from 4.6%, while Furnishings, Household Equipment, and Routine Household Maintenance saw a drop to 2.8%.
Health services improved with a decrease to 2.5%, while Recreation, Sport, and Culture saw a reduction to 3.6%, indicating more stable consumer prices in these areas.
The Consumer Price Index (CPI) for Angeles City in May 2024 is ₱125.4, meaning that ₱125.4 is needed to purchase goods and services worth ₱100 in 2018, up from ₱121.8 in May 2023.
The Purchasing Power of Peso (PPP) stands at 0.80, down from 0.82 in May 2023, reflecting the ongoing efforts to maintain purchasing power in a dynamic economic environment. Angeles CIO
