Bacolod city: A notable decrease in prices of food and utilities has reduced inflation rates in this highly-urbanized city and Negros Occidental in June, data from the Philippine Statistics Authority (PSA) showed on Friday.
According to Philippines News Agency, in Bacolod City, the inflation rate for all income households eased further to 0.5 percent in June, down from 2.4 percent in May. Meanwhile, the province recorded an inflation rate of 1.2 percent in June, also down from 2.4 percent in May.
With a share of 67.4 percent, the primary contributor to the downward trend in Bacolod City is housing, water, electricity, gas, and other fuels, which registered a -4.7 percent inflation rate last month. In particular, the inflation rate for electricity in June was -18.4 percent, a significant drop from zero percent in May.
Food and non-alcoholic beverages posted a 1.3 percent inflation rate in June, following food prices which logged only -1.4 percent in June as against 1.0 percent in May. Meanwhile, the top major contributor to the downward trend in Negros Occidental is food and non-alcoholic beverages at zero percent, contributing 53.9 percent to the overall inflation.
This can be attributed to a -0.3 percent inflation rate for food last month after recording 1.3 percent in May. It is followed by housing, water, electricity, gas, and other fuels, which logged a 1.1 percent inflation rate due to only -0.2 percent inflation for electricity, gas, and other fuels, down from 7.8 percent in May.
Among the bottom 30 percent households in Bacolod City, the inflation rate also slowed down to -0.4 percent in June, from 2 percent in May, while Negros Occidental posted a 0.5 percent rate, down from 2.1 percent in May.
In a press briefing, PSA-Negros Occidental officer in charge Diesah Biaoco noted the decrease in the prices of food but advised consumers to plan their purchases well, as more household expenses are coming with the opening of classes. She stated, "For the past two months, we have observed a decrease in the prices of food commodity groups like vegetables, rice, fish, and meat. Still, proper planning and budgeting are important. Inevitable factors may still affect the prices, such as calamities. Let's just be positive that the lower prices will continue."
