HIGHER INFLATION. PSA Statistical Specialist II Miguel Gallego presents the inflation rate of Western Visayas in May, which accelerated to 4.3 percent from 4.1 percent in the previous month, during a press conference on Friday (June 14, 2024). He said the eruption of Mt. Kanlaon is expected to impact the inflation rate in June since volumes of vegetables come from areas affected by the restive volcano. (PNA photo by PGLena)
ILOILO CITY – The headline inflation in Western Visayas in May accelerated to 4.3 percent from 4.1 percent in April, and the eruption of Mt. Kanlaon on Negros Island is expected to impact the prices of goods in June.
The Philippine Statistics Authority (PSA) in Western Visayas, in a press conference on Friday, said food and non-alcoholic beverages, with a 7 percent rate, made the highest contribution to the May headline inflation at 69 percent, followed by the restaurant and accommodation services with a 5.5 percent inflation sharing 7.9 percent, and transport posting a 3.8 rate, contributing 7.7 percent.
PSA Statistical Specialist II Miguel Gallego said volumes of vegetables come from Negros, so there is a possibility that prices would increase.
“Our inflation report, although these are in previous months, we can see the trend where external forces like the weather or other situations affect prices of goods. So the public has to strategize with its budgeting and set priorities,” he said.
He added that the separation of Negros Occidental from Western Visayas would also affect the inflation, especially since together with Bacolod City, their contribution to the regional inflation is 38.35 percent.
Among the provinces in the region, Negros Occidental posted the lowest inflation at 4.2 percent, while Bacolod City has 4.5 percent.
Guimaras still has the highest inflation at 7 percent from 6.8 percent, Iloilo province at 4.7 percent from 3.9 percent and Capiz at 4.4 percent from 3.9 percent.
Aklan and Antique have slower inflation at 4.5 percent from 4.9 percent and 5.7 percent from 6.7 percent, respectively.
Iloilo City has an uptrend inflation rate of 4.7 percent from 3.9 percent.
It is notable in the report that for the first time, passenger transport by waterway and clothing showed uptrend inflation at 79.6 percent from 22 percent and 3.6 percent from 3.4 percent, respectively.
Gallego said they could not pinpoint exactly what caused the high inflation for passenger transport by waterway because their central office collated the data from shipping lines. (PNA)
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