Inflation, or the rate of increase in prices of goods and services, in Iloilo City decelerated to 1.7 percent in August this year from the preceding month’s 3.7 percent.
According to the Philippine Statistics Authority (PSA-6), the sharp decline was mainly driven by the slower increase in the prices of Housing, Water, Electricity, Gas, and Other Fuels (-0.5 percent from 7.8 percent).
Other contributors were Food and Non-Alcoholic Beverages, which decreased from 2.3 percent to 1.7 percent; Alcoholic Beverages and Tobacco, which declined from 6.6 percent to 5.0 percent; Clothing and Footwear, which slightly fell from 0.9 percent to 0.8 percent; and Information and Communication, which decreased from 1.6 percent to 0.8 percent.
On the other hand, higher inflation rates were observed in the indices Furnishings, Household Equipment, and Routine Household Maintenance (from 12.6 percent to 12.5 percent); Health (from 6.0 percent to 6.2 percent), Recreation, Sport and Culture (from 2.1 percent to 3.2 percent); Restaurants and Accommodation Services (from 1.5 percent to 3.1 percent); and Personal Care, and Miscellaneous Goods and Services (5.0 percent to 5.7 percent).
The Transport commodity, while still in deflation, slightly increased from -3.6 percent to -0.8 percent.
Meanwhile, there were no changes in the inflation rates of Education Services, which remained at 3.4 percent, and Financial Services, still at 0.0 percent.
Despite, the slower August inflation, the city’s rate remained the highest among the areas in the Western Visayas.
Iloilo province had the secon-highest inflation in the region at 0.2 percent, followed by Guimaras (-0.2 percent), Capiz (-0.3 percent), Aklan (-1.4 percent) and Antique (-3.2 percent).IMT
