Guimaras: The inflation rate in Guimaras registered at 0.4 percent in February, marking an increase from a negative 0.6 percent in January, according to data released by the Philippine Statistics Authority (PSA) on Tuesday. This marks the first occurrence of a positive inflation rate in the province after seven consecutive months of negative figures.
According to Philippines News Agency, despite the slight rise, Guimaras' inflation remained considerably lower than the national rate of 2.4 percent and the Western Visayas regional rate of 3.0 percent for the same period. Nelida Losare, Guimaras Provincial Statistics Officer, highlighted in a media conference that the increase was largely driven by higher annual price hikes in certain commodity groups, mainly food and non-alcoholic beverages, housing, water, electricity, gas, and other fuels, as well as restaurants and accommodation services.
The inflation rate for food and non-alcoholic beverages rose to -3.2 percent from -4.2 percent in January, while housing, water, electricity, gas, and other fuels saw a higher inflation rate of 1.2 percent, up from -0.4 percent in the previous month. Losare noted that the rise was primarily influenced by electricity, gas, and other fuels, which posted a 1.9 percent inflation rate and accounted for 71.8 percent of the group's inflation.
Price changes in electricity from coal, solar, and hydroelectric sources were also cited as contributing factors. Of the 10 commodity groups monitored in the province, only recreation, sport, and culture, along with personal care and miscellaneous goods, recorded slower inflation rates in February.
Although prices moved upwards, the inflation rate for the bottom 30 percent income group remained negative at -1.0 percent, improving from -2.2 percent in January. The PSA report noted that this rate for low-income households was significantly lower compared to the national inflation rate of 2.5 percent and the Western Visayas regional rate of 2.7 percent during the same timeframe.
The faster inflation movement in February was mainly driven by price changes across eight commodity groups, particularly those heavily weighted in food and non-alcoholic beverages; housing, water, electricity, gas, and other fuels; and restaurants and accommodation services. Losare explained that inflation is calculated based on the Consumer Price Index (CPI), which tracks changes in the average prices of goods and services typically purchased by households over time. The CPI serves as the primary indicator for computing the inflation rate by monitoring price movements of a fixed basket of commonly consumed goods and services.
