LOWER INFLATION. The inflation rate for all income households in Negros Occidental slowed down to 4.2 percent in May from 4.4 percent in April, a Philippine Statistics Authority (PSA) report showed on Friday (June, 14, 2024). Lower costs of food and non-alcoholic beverages mainly led to a decrease in inflation in the past month. (Graphics courtesy of PSA-Negros Occidental)
BACOLOD CITY – Lower cost of food and non-alcoholic beverages in Negros Occidental led to a slightly lower inflation rate of 4.2 percent for all income households in May, from 4.4 percent in April, a report of the Philippine Statistics Authority (PSA) on Friday showed.
On the other hand, the inflation rate in Bacolod City expanded to 4.5 percent in May compared to 3.9 percent in the previous month, mainly due to higher prices of food and non-alcoholic beverages and an increase in the cost of electricity.
In a press briefing, PSA chief statistical specialist John Campomanes said food supply in this highly urbanized city is sourced outside of Bacolod, so there is an add-on for the transportation cost.
“Another main contributor to higher inflation rate in Bacolod is the increase in power rate,” he added.
In Negros Occidental, decreases in the adjusted consumer price index last month resulted in a decrease in inflation at 6.6 percent, from 7.4 percent in April, for food and non-alcoholic beverages.
“This is the main driver of the downtrend for the overall inflation for this commodity group last month,” Campomanes said.
As the top major contributor to the inflation in Negros Occidental for May, food and non-alcoholic beverages recorded an 88.8 percent share of the downtrend in inflation.
The inflation rate for cereals and cereal products went down to 12.5 percent, from 15.4 percent in April; vegetables, tubers and pulses, plantains and cooking bananas, to -3.2 percent, from -1.8 percent; and milk and other dairy products, and eggs to 3.1 percent from 4.4 percent.
For the bottom 30 percent of income households in Negros Occidental, the inflation rate decreased to 5 percent in May from 5.3 percent in April 4.
In Bacolod City, food and non-alcoholic beverages recorded an inflation of 6.1 percent in May, from only 4.7 percent a month earlier, contributing a 67.5 percent share to the uptrend inflation, while electricity, gas, and other fuels, 19.9 percent.
The inflation rate increased to 5.1 percent in May from 4.8 percent in April for the bottom 30 percent income households in this city. (PNA)
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