People who are living in Western Visayas now need to spend more money for goods and services compared to six years ago.
According to the Philippine Statistics Authority (PSA-6), the value of P1 in 2018 slipped to 77 centavos in December 2024.
This means that an additional amount of P23 is needed to purchase the same basket of goods worth P100 in the base year.
The purchasing power of the peso is computed as 1 divided by the Consumer Price Index (CPI), multiplied by 100.
PSA-6 said decrease in the local currency’s purchasing power was mainly due to inflation or the rate of increase in the prices of goods and services.
In December last year, the region’s inflation clocked in at 3.2 percent, higher compared to November’s 3.2 percent.IMT
