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Manila Bulletin devider Philippines devider Luzon devider Western Visayas logs highest inflation rate in 14 years

Western Visayas logs highest inflation rate in 14 years

Published Mar 11, 2023 05:04 am
ILOILO CITY – Western Visayas registered an inflation rate of 10.8 percent in February, the highest in more than 14 years, the Philippine Statistics Authority said. A FRUIT and vegetable stall in an outdoor market in Iloilo City. The inflation rate in Western Visayas climbed to 10.8 percent in February from 10.3 percent in January.  (Tara Yap/Manila Bulletin) Inflation accelerated by 0.5 percent from 10.3 percent in January, Nelida Amolar, chief statistical specialist and officer-in-charge of the Philippine Statistics Authority (PSA)-6, said. This was the highest recorded inflation rate in the region since the 11.1 percent in November 2008, Amolar added. Amolar said this was also 7.5 percent higher compared to the 3.3 percent in February 2022. The PSA-6 said Western Visayas still has the highest inflation rate in the country, up by 2.2 percent compared to the nation's 8.6 percent. “The uptrend in inflation for February 2023 was primarily due to the higher annual growth rate in the index of food and non-alcoholic beverages at 11.7 percent from 10.6 percent in January 2023,” noted Amular. The regional capital of Iloilo City has the highest inflation rate in the region last month at 13.2 percent, up 0.8 percent from January at 12.4 percent. Aklan and Capiz have the lowest inflation rate in Western Visayas at 8.1 percent in February. The inflation rate in Negros Occidental last month was 12.4 percent, 11.2 percent in Bacolod City, 10.3 percent in Antique, 10.2 percent in Iloilo, and nine percent in Guimaras.

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