GUIMARAS – The island province of Guimaras recorded the lowest average food inflation rate at 8.5 percent in 2023 among the six provinces in Western Visayas, based on the latest price statistics released by the Philippines Statistics Authority.
Food inflation in the province for 2023 stood at 8.5 percent, slower by 0.3 percentage points from the 8.8 percent food inflation in 2022.
Meanwhile, the province of Aklan recorded the highest average food inflation at 11.8 percent. It is preceded by Capiz (10.2 percent), Negros Occidental (9.3 percent), Antique (9.1 percent), and Iloilo (8.9 percent).
The 8.5 percent food inflation rate of Guimaras in 2023 is the second highest rate recorded by the province in 11 years, next to 2022 with 8.8 percent, while 2021 got the slowest at -0.3 percent.
The contraction of food inflation in 2023 was influenced by the annual decrease recorded in Fish and other seafood at 5.1 percent, from 9.7 percent in 2022 with a 36.8 percent share to food inflation, due to the slower price movements in Fish, live, fresh, chilled or frozen with 1.2 percent inflation.
Also contributing to the downtrend of food inflation were slower increases observed in the indices of Vegetables, tubers, plantains, cooking bananas, and pulses at 17.4 percent in 2023 from 28.5 percent with a 28.7 percent share of the 2023 average food inflation rate, mainly caused by the downtrend in Other leafy or stem vegetables, fresh or chilled at 19.4 percent from a high of 164.1 percent a year ago.
Meat and other parts of slaughtered land animals also contributed to the decline of the 2023 average food inflation rate, with a recorded 7.0 percent rate from 12.5 percent in the previous year and a 25.9 percent share of the 2023 average food inflation in the province. (PSA)/PN