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Bacolod City, Philippines Monday, January 7, 2019
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WV inflation rate in Dec.
slows down to 5.7%: PSA
BY MARK L. GARCIA

 

The inflation rate in Western Visayas slowed down to 5.7 percent in December, or a decrease by one percent compared to November, recent Philippine Statistics Authority records showed.

Based on the Summary Inflation Report Consumer Price Index December 2018 released on Jan. 4, Western Visayas’ inflation rate for December was the lowest in the last quarter, following a 7.7 percent peak in October.

The recent record for Region 6 is 0.6 percent higher than the national average estimated at 5.1 percent, and PSA attributed it to the slower annual increase of prices in various commodity groups, such as food and non-alcoholic beverages, and transport.

For Western Visayas, all commodity groups posted a lower inflation rate, except from communications, which slightly increased by 0.1, from 0.4 percent in November to 0.5 in December, and health at 1.4 from the previous 1.3 percent.

Food and non-alcoholic beverages posted inflation rate of 8.3 percent last month, from 9.8 percent in November, alcoholic beverages and tobacco at 26.6 percent from 27.5 percent, clothing and footwear at 1.1 from 1.3 percent, housing, water, electricity, gas and other fuels at 2.7 from 2.8, furnishing, household equipment, and routine maintenance of the house at 2.3 from 4.5 percent;

Transport at 2.4 from 5.6 percent, recreation and culture at 2.9 from 3.1 percent, education still at -0.6 percent, and restaurant, miscellaneous goods and services at 2.7, from 3.1 percent.

Region 6 has the highest inflation rate in the Visayas, followed by Central Visayas at 5.3 from six percent, and Eastern Visayas at 4.4 from 5.2 percent, the PSA records showed.

In all the regions in the country, the Autonomous Region in Muslim Mindanao has the highest inflation at 7.5 percent, followed by Bicol and Ilocos regions, with seven percent, respectively.

PSA also noted that the annual average headline inflation at the national level for the year 2018 picked up by 5.2 percent from 2.9 percent in 2017.*

 

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