ILOILO CITY – This city logged the second highest inflation rate in the country last month with 5.4 percent.
The Philippine Statistics Authority said Iloilo City is next to Cagayan, with 5.7 percent, among 100 provinces and highly urbanized cities with high inflation rate in December.
A VIEW of Mandurriao considered as the new business district of Iloilo City. (Tara Yap)
The inflation rate here went up by 1.9 percent in December from 3.5 percent in November.
The increase in the inflation rate was attributed to higher price index of housing, water, electricity, gas, and other fuels with 65.7 percent.
The price index surged from 6.6 percent in November to 11.7 percent in December.
The inflation rate in Iloilo City, the regional capital of Western Visayas, increased in majority of last year.
Iloilo City recorded a -0.7 percent inflation rate in December 2023.