Negros Oriental’s inflation rate in 2024 slowed down despite the looming threat of a major eruption of Mt. Kanlaon, an official from the Philippine Statistics Authority (PSA) said yesterday.

Engineer Ariel Fortuito, PSA-Negros Oriental chief statistical specialist, highlighted that the slowdown in inflation last year reflects the effectiveness of government efforts to manage price stability.

“Last year was a better year compared to 2023,” Fortuito said during a press conference, noting the significant improvement in inflation trends.

PSA data showed December 2024’s headline inflation slightly rose to one percent from 0.9 percent in November.

He, however, noted a dramatic drop from December 2023’s 5.6 percent.

The average inflation rate for 2024 settled at 3.2 percent, with March recording the highest rate at 5.8 percent and November the lowest.

The December inflation uptick was driven by increases in transport costs, housing, water, electricity, gas, and other fuels.

Other significant contributors include food and non-alcoholic beverages, education services and housing-related commodities.

Fortuito, meanwhile, warned of potential price hikes in vegetables, as Canlaon City, a key supplier, could face disruptions due to Mt. Kanlaon’s activity.

A major eruption affecting coastal waters could also lead to increased fish prices.

“We remain hopeful that a major eruption will not occur,” Fortuito said. (PNA)