13 November 2024 – Boac, Marinduque. The Philippine Statistics Authority (PSA) Provincial Statistical Office (PSO) in Marinduque conducted a press conference to present the Inflation Report for October 2024, showcasing the province’s impressive record-low inflation rate. As part of PSA’s commitment to transparency, this event aimed to keep the public informed about vital economic indicators impacting Marinduque, with a specific focus on inflation trends that affect household purchasing power and economic stability.

Chief Statistical Specialist, Ms. Gemma N. Opis, reported that Marinduque achieved an inflation rate of 0.0 percent for October 2024, underscoring the province's continued price stability. This steady rate contributed to an average inflation rate of 1.0 percent from January to October 2024, securing Marinduque’s position as the province with the lowest inflation rate in the MIMAROPA region. Furthermore, the Purchasing Power of the Peso (PPP) in Marinduque stands at PHP 0.76, indicating relative stability in local currency value.

The conference included a comprehensive analysis of inflation trends, focusing on essential commodities such as food, utilities, and household maintenance items, including furnishings and routine household equipment. CSS Opis emphasized the importance of ongoing monitoring of inflation rates, as changes in price levels directly affect the economic well-being of households in Marinduque.

The event concluded with an open forum, allowing media representatives and local stakeholders the opportunity to ask questions and discuss various aspects of the inflation report with PSA officials. This transparent dialogue underscores PSA PSO Marinduque’s commitment to delivering timely, reliable statistical data that supports economic development and helps keep the public well-informed about the province’s economic status.

For further inquiries or detailed information about the September 2024 Inflation Report, please contact PSA-Marinduque via email at marinduque@psa.gov.ph or through our landline numbers: (042) 332-0848 or (042) 754-0024.

(SGD)GEMMA N. OPIS
Chief Statistical Specialist
PSA PSO Marinduque

GNO/DJG