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Western Visayas inflation rate up after 5 months

Philippines | Luzon

Western Visayas inflation rate up after 5 months

By Tara Yap

ILOILO CITY – The inflation rate in Western Visayas went up in August after five straight months of decline.

The Philippine Statistics Authority (PSA)-6 said the inflation rate increased by 0.3 percent to 6.1 percent from 5.8 percent in July.

A MARKET stall at La Paz Public Market in Iloilo City. (Tara Yap)

“The uptrend in the headline inflation in August 2023 was mainly influenced by the higher annual increase in the heavily weighted index of food and non-alcoholic beverages at 8.7 percent in August from 7.5 percent in July 2023,” said Nelida Amolar, PSA-6 officer-in-charge and chief statistical specialist.

Other factors were increase in the price index for transportation and education services.

However, last month’s inflation was lower by 1.3 percent than the 7.4 percent in August 2022.

Negros Occidental has the highest inflation rate in Western Visayas in August at 7.9 percent, up 0.3 percent from 7.6 percent in July 2023.

The island-province of Guimaras still has the region’s lowest inflation rate last month at 4.1 percent.

The inflation rate in Bacolod City was 5.7 percent, 5.7 percent in Iloilo, 5.5 percent in Iloilo City, 5.1 percent in Capiz, 4.9 percent in Antique, and 4.5 percent in Aklan.

Related Tags

Inflation rate Philippine Statistics Authority Western Visayas

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