Manila: The movement of goods and services in Western Visayas: accelerated to 2 percent in September from -0.3 percent in August, the Philippine Statistics Authority (PSA) reported on Friday.
According to Philippines News Agency, Statistical Specialist II Miguel Gallego I stated that the increase in the overall inflation was mainly due to the slower decline in the housing, water, electricity, gas, and other fuels commodity group. This group recorded an inflation rate of -0.3 percent, up from -1.8 percent in August.
Gallego explained that the upward trend was also influenced by a faster increase in the transport index, with its inflation rate changing from -1 percent in the previous month to 1.5 percent in September. The housing, water, electricity, gas, and other fuels commodity group accounted for 53.3 percent of the upward inflation, while transport contributed 42.3 percent.
Based on the PSA report, three other commodity groups-clothing and footwear; recreation, sport, and culture; and personal care and miscellaneous goods-also registered higher inflation at 2.7 percent, 3.7 percent, and 2.9 percent, respectively. Meanwhile, health (1.2 percent), information and communication (0.4 percent), and restaurants and accommodation services (4 percent) experienced a lower inflation rate.
The remaining commodity groups, including food and non-alcoholic beverages (-1.8 percent); alcoholic beverages and tobacco (4.5 percent); furnishings, household equipment and routine household maintenance (5.3 percent); education services (3.9 percent), and financial services (0.0 percent) retained their inflation rates. Of the 13 commodity groups, five recorded higher inflation compared to August.
Significant contributors to the inflation rate included restaurants and accommodation services, which registered a 4 percent inflation rate; furnishings, household equipment, and routine household maintenance with 5.3 percent; and alcoholic beverages and tobacco with 4.5 percent.
Gallego noted that the headline inflation rate has been on a downward trend since January, even recording a negative rate in August. Despite the increase in September, it remains uncertain if there will be an upward trend in the last quarter of the year.
All provinces in the region, except Guimaras, which maintained its -0.2 percent inflation rate, registered an upward trend in inflation rates in September. Iloilo recorded the highest inflation rate at 0.5 percent, while Antique registered the lowest at -2.2 percent, according to the PSA report. The inflation rate in Iloilo City also accelerated to 2.1 percent from 1.7 percent in August.
Across all provinces, Gallego mentioned that the movement in transport and housing, water, electricity, gas, and other fuel commodity groups is almost the same. For food, however, the movement was slower due to the government's initiative to lower the price of cereals or rice.
