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Inflation in Western Visayas drops for 5th straight month

Philippines | Luzon

Inflation in Western Visayas drops for 5th straight month

By Tara Yap

ILOILO CITY – The inflation rate in Western Visayas has dropped for the fifth consecutive month.

A report released by the Philippine Statistics Authority (PSA-6) said the inflation rate went down by one percent to 5.8 percent in July from 6.8 percent in June.

A WOMAN passes by stalls selling fruits and vegetables at the Iloilo Provincial Capitol grounds in Iloilo City. (Tara Yap)

“The deceleration of the headline inflation in Western Visayas in July 2023 was primarily brought about by the slower annual increase in the index of housing, water, electricity, gas, and other fuels,” said Nelida Amolar, PSA-6 officer-in-charge and chief statistical specialist.

The combined price index for housing, water, electricity, gas, and other fuels dropped to 5.3 percent from 7.9 percent.

However, the July inflation rate of Western Visayas was higher than the national rate of 4.7 percent.

Negros Occidental province registered the highest inflation rate in the region at 7.6 percent.

The island-province of Guimaras logged the region’s lowest inflation rate at 2.3 percent.

Meanwhile, the inflation rate in other areas was: Bacolod City, 6.6 percent; 5.7 percent in Iloilo City; 5.1 percent in Iloilo; 4.6 percent in Antique; 4.6 percent in Capiz, and 3.5 percent in Aklan.

Related Tags

Inflation rate Philippine Statistics Authority Iloilo City Western Visayas

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