Inflation — the rate of increase in the prices of goods and services — in Western Visayas slightly eased in July this year, data from the Philippine Statistics Authority (PSA-6) showed.
The region’s inflation stood at 4.8 percent last month, lower compared to 4.9 percent in June, and 5.8 percent in the same month last year.
According to Statistical Specialist II Miguel S. Gallego, the improved overall rate was driven by slower price increases in housing, water, electricity, gas, and other fuels.
Inflation for this group was at 1.1 percent in July, lower compared to 2.7 percent the preceding month.
Gallego said the adjustment in electricity rates, particularly in Iloilo City, where it was lower, offset, or pulled down the higher rate in other areas in the region, thus the slower inflation for electricity.
“Probably, in our August data, our inflation will bounce back because there was an increase in electricity prices this month. We could not also discount the possible increase in our commodity group, particularly in agricultural products and fuel,” he added.
Other groups that contributed to the decline were health (2.5 percent) and alcoholic beverages and tobacco (3.1 percent).
Among the provinces in the region, Guimaras recorded the highest inflation at 6.8 percent, followed by Aklan at 6.4 percent, Antique at 6.2 percent, Negros Occidental at 4.8 percent, Capiz at 4.7 percent and Iloilo at 4.0 percent.
The highly urbanized cities of Iloilo and Bacolod recorded rates of 1.8 percent and 6.2 percent, respectively.IMT
