In the Ilocos Region, inflation surged to 2.9% in December 2024, up from 1.8% the previous month, driven by increases in food and fuel costs. Despite the monthly rise, the region’s annual inflation average for 2024 fell to 2.1%, a significant decrease from the 5.1% recorded the year before, according to the Philippine Statistics Authority (PSA). Sheila de Guzman, the PSA Ilocos Region director, highlighted that the escalation in food prices was largely due to higher costs of vegetables, tubers, plantains, cooking bananas, and pulses. Notably, tomato prices skyrocketed by 156.2% in December, a sharp increase from November’s 23.9%. Irene Tactac, a project evaluation officer from the Department of Agriculture, attributed the tomato price surge to reduced supply following weather disruptions in the final quarter of 2024. She reassured that prices are expected to decline as crops planted in late November begin to be harvested. Among the provinces, Ilocos Sur experienced the highest inflation rate at 5.1%, with Pangasinan at 2.8%, La Union at 2.4%, and Ilocos Norte at 2.1%.
