Inflation, or the rate of increase in the prices of goods and services, in Western Visayas slowed down to 5.4 percent in October from 6.6 percent in September, according to the Philippine Statistics Authority (PSA).
Regional Statistical Services Office (RSSO-6) officer-in-charge (OIC) Nelida Amolar said the slowdown can be attributed to the decline in prices of food and non-alcoholic beverages.
Food and non-alcoholic beverages registered an inflation rate of 9.2 percent last month from 10.8 percent in September. The decline was mainly due to lower prices of cereals and cereal products (rice, corn, flour, bread and other bakery products), which had an inflation rate of 7.1 percent from 10.7 percent.
Vegetables, tubers, cooking bananas, and pulses commodity (grain legumes) group had an inflation rate of 19.2 percent from 23.4 percent while the fish and other seafood group logged an inflation rate of 9.1 percent from 10.5 percent.
Aside from food and non-alcoholic beverages, which contributed 3.8 percentage points to the region’s overall inflation, other drivers of the decrease were restaurants and accommodation services; and alcoholic beverages and tobacco, sharing 0.6 and 0.3 percentage points, respectively.
On the other hand, meat and other parts of slaughtered land animals registered an inflation rate of 8.9 percent in October, higher from 6.9 percent in September. Fruits and nuts also posted a higher inflation rate of 8.7 percent from 6.8 percent while inflation for whole milk, other dairy products, and eggs remained at 8.2 percent.
Of the five provinces in the region, Negros Occidental posted the highest inflation at 7.8 percent while Iloilo had the lowest inflation at 3.7 percent.
In terms of highly urbanized cities (HUCs), Iloilo City’s inflation decelerated to 2.7 percent from 6.3 percent while inflation in Bacolod City retained at 6.4 percent.IMT
