LAOAG CITY, March 12 -- Consumers are benefiting from the four consecutive months of deflation in Ilocos Sur until February this year, authorities said Tuesday.

The rate of price increases in Ilocos Sur has been in negative territory since November 2023, with the February level at negative 1.1 percent, from month-ago's negative 2.4 percent.

"When deflation is short term, this is good for our consumers because they have more confidence to buy more," National Economic and Development Authority chief economic development specialist Freynon Perez said in a Zoom briefing for the release of the February 2024 inflation report.

The factors behind the deflation are attributed to a considerable decrease in the indices of housing, water, electric...