Business owners in Cagayan de Oro City have expressed concern over the rising inflation rate in the country.

Inflation happens when the prices of goods and services continue to increase, and eventually reduces the purchasing power of money.

At the start of 2026, the country’s inflation rate was reported at two percent. It went up slightly to 2.4 percent in February.

The rate almost doubled to 4.1 percent in March before jumping to 7.2 percent in April, which affected the purchasing power of consumers.

A business group warned that the rising inflation rate may affect the local economy.

According to Ray Talimio, Jr., past president of the Oro Chamber of Commerce, many businesses are currently adopting to a “wait-and-see” approach amid the economic uncertainty.

He said some establishments may eventually shut down if the situation does not improve, which could lead to higher unemployment in the city.

“Many businesses they are holding on kasi wait and see ang attitude nila kung makaya pa ba ni siya two to three months from now, if they go on with the business… pero kung ma-realize nila nga dili na gyud kaya then they will really have to close the shop and that’s the most concerning issue that there will be higher unemployment,” Talimio said.

Talimio also added that the fuel crisis and delays in infrastructure projects linked to the flood control controversy may have contributed to the increasing inflation rate.

Some small businesses in the city were reportedly forced to stop operations.

“Kung may intervention unta sa gobyerno kana dili band-aid solution, dili siya tingi-tingi kung nakita nila nga naa gyud siguro gikinahanglan sana gipadako nila ang intervention,” Talimio added.

The rising prices of basic commodities is felt by eatery owner Alfred Bedrijo.

He said they were forced to reduce serving sizes, instead of increasing prices, after suppliers raised the cost of meat, rice, and other goods.

“Steady lang gihapon atong presyo unya ang serving gi-reduce lang ta gamay, dili lang ta pataas sa presyo aron balikan ta og tao,” Bedrijo said.

Experts warned that the country’s inflation rate could continue to rise until the third or fourth quarter of 2026, prompting them to advise the public to prepare for the possible effects of the economic crisis.