Iloilo City, the economic center of Western Visayas, had the highest inflation in the region in December last year, data from the Philippine Statistics Authority (PSA-6) showed.
Inflation, or the rate of increase in the prices of goods and services, in the city accelerated to 5.4% in December 2024 from 3.4% in November.
Iloilo province recorded the second-highest inflation at 4.2%, followed by Negros Occidental (3.7%), Guimaras and Capiz (2.8% each), Bacolod City (2.4%), Antique (1.5%), and Aklan (1.4%).
The regional average inflation stood at 3.4% in the last month of 2024, slightly higher compared to November’s 3.2 percent.
PSA-6 attributed the acceleration to faster price increases in housing, water, electricity, gas, and other fuels (4.8%); transportation (1.8%); and furnishings, household equipment, and routine maintenance (4.1%).
The agency also cited alcoholic beverages and tobacco, information, and communication and recreation, sport, and culture as significant contributors to the increase.
Food and non-alcoholic beverages accounted for 35% of the inflation rate, followed by housing, water, electricity, gas, and other fuels at 26.5%, and restaurants and accommodation services at 10.2%.IMT
