Workers unload produce at the Benguet trading post. The economic shocks caused by the Iran war have affected the local economy in Cordillera. — Photo by Vincent Cabreza
BAGUIO CITY — The economic shocks from the three-month war on Iran sped up Cordillera inflation to 7.6 percent rate in April, continuing the sharp jump had already experienced in March with 4.5 percent from its 3.1 percent inflation rate in February, government statisticians reported at an economic briefing on Thursday (May 14).
The food-producing mountain region confronted an over-all 101.4 inflation rate for diesel in April after dealing with an already high 55.2 percent rate in March, while high fuel prices jacked up gasoline inflation to 54 percent last month from 27 percent in March, said Aldrin Federico Bahit Jr., Cordillera chief statistician of the Philippine Statistics Authority (PSA).
Baguio City reflected a 7.4 percent hike in its April inflation up from March’s 6.2 percent rate, which was also felt in the highland provinces of Ifugao (7.6 up from 3.7), Benguet (5.7 from 3.2), Kalinga (6.3 from 1.9), Abra (10.1 from 4.3), Apayao (14.5 percent from 8.1) and Mountain Province (10.5 from 4.1).
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