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Manila Bulletin devider Philippines devider W. Visayas inflation rate of 10.5% highest in 14 years

W. Visayas inflation rate of 10.5% highest in 14 years

Published Jan 10, 2023 11:35 am

ILOILO CITY – Prices of basic goods in Western Visayas increased by 10.5 percent in December last year, the highest inflation rate in the region in 14 years.

“This is the region’s highest recorded inflation since November 2008 when the inflation rate was at 11.1 percent,” said Nelida Amolar, chief statistical specialist and officer-in-charge of the Philippine Statistics Authority (PSA-6).

The inflation was 0.9 percent higher compared to November 2022 inflation which stood at 9.6 percent.

Locals check fresh fish being sold at the Central Market in Iloilo City. (Tara Yap/Manila Bulletin)

It was the eighth consecutive month that prices of basic goods increased in Western Visayas.

The PSA-6 also noted that Western Visayas’ inflation rate for December 2022 is still higher than the national average, which was only 8.1 percent.

“The continued rise of inflation in December 2022 was primarily caused by the faster year-on-year growth rate in the index of housing, water, electricity, gas and other fuels of 14.2 percent, from 11.7 percent in November 2022,” explained Amolar.

“This was followed by food and non-alcoholic beverages with inflation rate increasing to 11.1 percent, from 10.1 percent in November 2022,” added Amolar.

For December 2022, the regional capital of Iloilo City once again registered the highest inflation rate at 13.5 percent. Last November, the city’s inflation rate was at 12.4 percent.

Aklan province remained to have the lowest inflation rate in Western Visayas at 7.7 percent.

The PSA-6 also recorded an inflation rate of 12.3 percent in Negros Occidental province; 9.7 percent in Bacolod City; 9.6 percent in Antique province; 9.4 percent in Iloilo province; 9.2 percent in Capiz province; and 8.1 percent in Guimaras province.

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