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Manila Bulletin devider Philippines devider Luzon devider Western Visayas inflation drops for 4th straight month

Western Visayas inflation drops for 4th straight month

Published Jul 18, 2023 02:57 am
ILOILO CITY – The inflation rate in Western Visayas has dropped for the fourth consecutive month. A VEGETABLE stall at the La Paz Public Market in Iloilo City. Inflation or the rate of increase in prices over a given period of time in Western Visayas has dropped for the fourth straight month. (Tara Yap) The Philippine Statistics Authority (PSA)-6 said inflation in the region dropped 0.3 percent to 6.8 percent in June from 7.1 percent in May. “The deceleration of the inflation in Western Visayas in June 2023 was influenced primarily by the annual decrease in the index of transport at -2.1 percent from 0.5 percent in May 2023,” said Nelida Amolar, PSA-6 officer-in-charge and chief statistical specialist. However, last month’s inflation rate was still higher compared to June last year with 6.2 percent. Western Visayas’ inflation rate remains higher than the national average of 5.4 percent. The regional capital of Iloilo City still has the highest inflation rate for June with 8.5 percent, down one percent from May with 9.5 percent. The island-province of Guimaras had the lowest inflation rate last month with 3.6 percent, down 1.1 percent from  4.7 percent in May. The inflation rate in other areas in Western Visayas were 8.1 percent in Negros Occidental province; 6.7 percent in Bacolod City; 6.7 percent in Antique province; 6.6 percent in Iloilo province; 5.3 percent in Aklan province; and 4.9 percent in Capiz province.

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