Inflation – the rate of increase in prices over a given period of time – in the region is higher than the national average for the second consecutive month.
The Philippine Statistics Authority (PSA) said that the inflation rate in Western Visayas soared to 6.2 percent in June compared to the national average of 6.1 percent.
The June inflation rate in the region slightly went up by 0.3 percent. Last year’s inflation rate for the month was only four percent.
Just like in the previous months, the biggest factor in the increase in Western Visayas inflation rate was due to higher price index for transportation which was pegged at 16.5 percent.
The PSA also said that food inflation soared to 7.6 percent last June from 6.9 percent in May.
PSA noted that four out of the six provinces of Western Visayas as well as the two highly urbanized cities registered higher inflation rates a month ago.
Last month, Negros Occidental had the highest inflation rate at 8.2 percent while Iloilo had the lowest at four percent.
Iloilo City, the regional capital, had the second highest inflation rate at 7.3 percent.
The inflation rate was 4.8 percent for Aklan, 7.2 percent for Antique, 6.1 percent for Capiz, eight percent for Guimaras, and 5.1 percent for Bacolod City.