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Manila Bulletin devider Philippines devider National devider PSA: Inflation rate in Western Visayas up, higher than national average

PSA: Inflation rate in Western Visayas up, higher than national average

Published Jun 9, 2022 11:00 am

A VENDOR wearing a face shield sells vegetables in a market in Iloilo City. (Tara Yap)
ILOILO CITY – Prices of basic goods in Western Visayas soared anew as the inflation rate in the region went up to 5.9 percent last May.

The Philippine Statistics Authority (PSA) said that the inflation rate for Western Visayas soared to 5.9 percent last month, higher than the national average of 5.4 percent.

The PSA added that the inflation rate in Western Visayas was even higher than that of the National Capital Region (NCR) or Metro Manila which was only 4.7 percent.

The 5.9 percent inflation rate in Western Visayas is one percent up from the 4.9 percent last April, the single highest increase since January 2019, according to the PSA.

“This marks the highest inflation since January 2019. Inflation in May of the previous year was lower at 4.1 percent. The average inflation rate for the first five months of the year is recorded at 4.7 percent,” said the PSA in a report released last Wednesday, June 8.

The PSA attributed the soaring inflation rate to increase in the price index for transportation, food and beverage, housing, electricity, and gas.

The PSA also noted that all six provinces of Western Visayas registered higher inflation rates last May with Negros Occidental registering the highest at 8.2 percent. Iloilo had the lowest at four percent.

In Aklan, the inflation rate is 4.1 percent, 6.7 percent for Antique, 5.6 percent for Capiz, 6.5 percent for Guimaras, 4.8 percent for Bacolod City, and Iloilo City, the regional capital, had a 6.6 percent inflation rate.

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