ILOILO CITY — Despite the threat of COVID-19, the socio-economic impact for Western Visayas region was eased when basic consumer prices decreased last December 2021.
According to the Philippine Statistics Authority (PSA), inflation in rate for Western Visayas decelerated to 4.2 percent from the 4.7 percent recorded last November 2021.
For December 2021, Iloilo province had the lowest inflation rate at 2.3 percent.
It is followed by Aklan province with a 2.8-percent inflation rate.
There was a 3.9-percent inflation rate in Guimaras province; 4.2-percent in Antique province; 5.1-percent in Capiz province; and 6.2-percent in Negros Occidental province.
Citing the Consumer Price Index (CPI), contributing factors for the deceleration of the region’s inflation rate was the lower increments registered for food and non-alcoholic beverages to 4.7 percent for December 2021 from 5 percent in November 2021.
While there was a general decrease in consumer prices, PSA Regional Chief Statistical Specialist Visayas Nelda Amolar said inflation rate for other commodities increased, including in the communication and restaurant sectors.