Western Visayas Inflation Climbs to 7.8% in July

Iloilo city: Inflation in Western Visayas accelerated to 7.8 percent in July from 6.8 percent in June, the Philippine Statistics Authority (PSA) said Tuesday.

According to Philippines News Agency, in a press briefing, PSA Western Visayas Regional Director Nelida Amolar stated that the increase was mainly driven by faster price growth in sectors such as housing, water, electricity, gas, and other fuels, which have a 16.5 percent weight in the regional consumer price index. Additionally, the food and non-alcoholic beverages category, with a 37.9 percent weight, also contributed to the inflation rise.

Transport, accounting for a 17.7 percent weight, showed a slower inflation rate of 15.1 percent in July, down from 16.2 percent in June. Inflation in housing, water, electricity, gas, and other fuels accelerated to 7.3 percent from 3.8 percent, while food and non-alcoholic beverages inflation rose to 6.8 percent from 5.6 percent.

Higher inflation rates were also recorded in furnishings, household equipment, and routine household maintenance, which climbed to 6.4 percent from 6.1 percent; health, which increased to 5.1 percent from 4.7 percent; and education services, which surged to 10.9 percent from 9.1 percent.

Conversely, inflation slowed in alcoholic beverages and tobacco to 8.7 percent; clothing and footwear to 3.4 percent; recreation, sport, and culture to 7.4 percent; restaurants and accommodation services to 15.5 percent; and personal care and miscellaneous goods and services to 4.0 percent. Information and communication at 1.4 percent and financial services at zero percent retained their respective inflation rates from the previous month, Amolar confirmed.

Amolar noted that the commodity groups with slower inflation were not the major ones, emphasizing that 'We Ilonggos dwell on rice. We have noted an increase in cereals, in rice,' she remarked, adding that rice production also declined in the second quarter of the year.

Among the provinces in Western Visayas, Antique recorded the highest inflation rate at 9.5 percent, while Capiz posted the lowest at 4.1 percent, Amolar reported. Inflation also increased in Aklan to 8.0 percent, Iloilo province to 9.3 percent, and Iloilo City to 7.2 percent. Inflation in Guimaras, meanwhile, slowed to 4.6 percent.