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Banker says inflation in Iloilo City can be a sign of growth

Philippines | Luzon

Banker says inflation in Iloilo City can be a sign of growth

By Tara Yap

ILOILO CITY – This city had the second highest inflation rate in the country last December but a bank executive sees this as a sign of the growth and development here.

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EASTWEST CEO Jerry Ngo (right) and Chief Investment Officer Bede Gomez speak during an economic briefing in Iloilo City. (Tara Yap)

“Inflation can be a good sign. It goes to show how robust the economy is,” said EastWest Bank Chief Investment Officer Bede Gomez.

“Inflation itself is not bad. It shows growth, there might be more investors or their businesses that come in because of that growth,” Gomez added during the EastWest Economic Briefing ahead of the highlight of the 2025 Dinagyang Festival.

Gomez noted that when there is growth, the demand and supply will eventually balance out.

Despite this, Gomez is confident of the continuing role of Iloilo City in terms of the regional growth of Western Visayas.

EastWest is seeing the multi-billion modernization of the Visayan Container Terminal in Iloilo City to improve logistical capabilities, create over 3,000 jobs, and enhance the region’s standing in the Visayan economy.

“The development here has been very fast,” noted EastWest Chief Executive Officer Jerry Ngo in a talk.

Ngo urged Ilonggos to invest in passive income or diversify in other industries to boost growth.

The Philippine Statistics Authority recorded a 5.4 percent inflation rate in Iloilo City, second to Cagayan among 100 provinces and highly urbanized cities in the last month of 2024.

Related Tags

Inflation rate EastWest Bank Bede Gomez Iloilo City

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