The purchasing power of the Philippine peso in Western Visayas saw a decline in the past five years, data from the Philippine Statistic Authority (PSA-6) showed.
The value of P1 in 2018, the base year used to compute the Consumer Price Index (CPI), decreased to 0.80 centavos in 2023.
This means those who live in the region spent an additional P20 to buy goods and services worth P100 in 2018.
The purchasing power of the Philippine peso is computed as 1 divided by CPI, multiplied by 100.
PSA-6 attributed the increase in the prices of consumer goods and services.
The region’s average inflation rate from January to December last year was at 6.9 percent.IMT
