Oriental Mindoro’s inflation rate fell to 3.7 percent in January 2025 from 4.9 percent in December 2024, the provincial statistics office has reported, though consumers continue to face pressure from reduced purchasing power.

The decline was most pronounced in food prices, with food inflation dropping to 5.0 percent from 7.6 percent.

Meat prices, while still elevated, showed easing with inflation falling to 24.8 percent from 33.1 percent.

Rice prices declined 5.4 percent year-on-year.

Despite lower electricity rates announced by the power distributor Ormeco, electricity inflation edged up to 12.0 percent from 11.4 percent in December, which officials attributed to fuel costs for power generation.

The province’s inflation rate remains above the national average of 2.9 percent and the Mimaropa regional rate of 2.4 percent.

The peso’s purchasing power in the province weakened to P0.72 pesos from P0.74 pesos a year ago, provincial statistics chief Charlyn Romero-Cantos said.

Low-income households saw some relief, with inflation for the bottom 30 percent income bracket falling to 4.0 percent from 5.4 percent in December.

Inflation is the rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.

The inflation rate is the percentage increase in the price level over a specific period, usually measured annually.