WV inflation climbs to 4.3% in May

The cost of basic goods and services in Western Visayas increased further in May this year, according to the Philippine Statistics Authority (PSA-6).

The region posted an inflation rate of 4.3 percent last month, higher compared to 4.1 percent in April and the national average of 3.9 percent.

According to PSA-6, the acceleration “was mainly due to the slower decline in the index of Housing, Electricity, Gas and Other Fuels at -0.3 percent during the month from -2.2 percent in April.”

“The second top contributor to the uptrend was Transport with 3.8 percent inflation in May from 3.1 percent in the previous month,” the agency further explained.

The top three commodity groups contributing to the 4.3 percent inflation rate were Food and Non-alcoholic Beverages with 69 percent share; Restaurants and Accomodation Services with 7.9 share; and Transport with 7.7 percent share.

Among the provinces in the region, Guimaras had the highest inflation rate at 7.0 percent, followed by Antique, 5.7 percent;  Iloilo, 4.7 percent; Aklan, 4.5 percent; Capiz, 4.4 percent; and Negros Occidental, 4.2 percent.

Bacolod City recorded an inflation rate of 4.3 percent while Iloilo City registered 1.3 percent.IMT