W. Visayas’ inflation rate rises to 4.4 percent

ILOILO CITY — As the threat of COVID-19 continues in Western Visayas region, the negative socio-economic impact is added when basic consumer prices have risen to 4.4 percent for August 2021 from the rate of 4.3 percent of the previous month.

The Philippine Statistics Authority (PSA) noted that inflation in rate for Western Visayas rose by 1.7 percent for the same period of August 2020.

For August 2021, Capiz province registered the highest inflation rate at 6.5 percent. It is followed by Negros Occidental province at 5.5 percent.

There was also a 5.3-percent inflation rate in Antique province, 3.5 percent in Aklan province, 3.4 percent in Guimaras province, and 2.5 percent in Iloilo province.

Citing the Consumer Price Index (CPI), contributing factors for the acceleration of the region’s inflation rate was the annual higher increments registered for food and non-alcoholic beverages at 3.1 percent; clothing and footwear at 2.4 percent; health at 3.0 percent and restaurant and miscellaneous goods and services at 2.3 percent.

While there was a general increase in consumer prices, PSA Regional Director for Western Visayas Fred Sollesta said inflation rate slowed down in several sectors in comparison to previous months.

Inflation rate for housing, water, electricity, gas, and other fuels was at 3.2 percent while 3.0 percent for furnishing, household equipment, and routine maintenance.