The News Conference/Data Dissemination on the March 2023 inflation situation in SOCCSKSARGEN Region was conducted last 25 April 2023 via Zoom meeting platform. The activity was spearheaded by Statistical Operations and Coordination Division (SOCD), under the guidance of Atty. Maqtahar L. Manulon, CESO V, Regional Director.

The Chief Statistical Specialist of SOCD, Ms. Ma. Eileen A. Berdeprado presented the inflation situation in the region for March 2023. According to her, the overall inflation rate of SOCCSKSARGEN Region  in March 2023 was estimated at 7.3 percent. Inflation rate is computed based on the Consumer Price Index or the CPI. The CPI measures the change in the average retail prices of a fixed basket of goods and services commonly purchased by households relative to a base year which is 2018. The  top commodity group main sources of deceleration in the March 2023 inflation were; 1) Transport; and 2)Housing, water, electricity, gas and other fuels. On the other hand, the top contributors to the 7.3 percent March 2023 inflation rate were; 1) Food and Non-Alcoholic Beverages; 2) Housing, Water, Electricity, Gas and Other Fuels; and 3) Restaurant & Accommodation & Services.

The activity was highlighted by two discussants from Bangko Sentral ng Pilipinas, Ms. Charday V. Batac, Senior Bank Economist and Department of Trade and Industry 12, Ms. Mary Ann M. Morales, CESE, Chief Trade and Industry Development Specialist. They presented their agency’s plans and programs/activities relative to the inflation situation in SOCCSKSARGEN Region.

The activity was participated by various regional line agencies, academe, LGUs, and private sector.