ILOILO CITY -- Prices of basic commodities in Western Visayas region rose dramatically in March this year.
According to the Philippine Statistics Authority (PSA), the inflation rate in Western Visayas has accelerated 4.6 percent in March 2022, 1.3 percent higher than the 3.3 percent posted in February this year.
PSA Officer-in-Charge Nelida Amolar noted that all six provinces—Aklan, Antique, Capiz, Guimaras, Iloilo, and Negros Occidental—registered higher inflation rates. The province of Negros Occidental posted the highest inflation at 7.3 percent.
The highly urbanized cities of Iloilo and Bacolod both registered an inflation rate of 4.3 percent.
Citing the Consumer Price Index (CPI), contributing factors for the acceleration of the region’s inflation rate was the increase in prices for transportation at 7.9 percent.
There was also an increase in the prices of food and non-alcoholic beverages at 5.4 percent; alcoholic beverages and tobacco at 6.1 percent; housing, water, electricity, gas, and other fuels at 3.2 percent; furnishing and household maintenance at 2.3 percent; and restaurants and accommodation services at 4.4 percent.