GUIMARAS – The inflation rate in this island province slowed down to 5.5% in August this year from 6.8% in July due to sluggish retail prices on food, particularly rice, with 23.8% inflation and transport, specifically gasoline, with -10.4% inflation, based on the latest price data released by the Philippines Statistics Authority (PSA).
“Aside from food and non-alcoholic beverages with an inflation of 7.0% lower against 10.7% a month ago and transport with -1.3% inflation slower than 4.9% annual price change in July, health commodity also contributed to the downtrend of August inflation,” Provincial Statistics Officer Nelida B. Losare said.
Losare further explained that the 1.0% inflation on vitamins and minerals pushed the health commodity inflation to slow to 7.0% from 7.7% in July 2024.
Likewise, the dropping price change on commodities of alcoholic beverages and tobacco at 4.6% from 5.0%; furnishings, household equipment and routine household maintenance at 1.7% from 2.0%; and personal care, and miscellaneous goods and services at 2.3% from 2.4% also showed a significant share in the August downtrend inflation rate.
In contrast, faster inflation rates in August were noted in the commodities of clothing and footwear, 2.1% from 1.7%; housing, water, electricity, gas and other fuels, 6.2% from 0.8%; information and communication, 2.0% from 0.0%; recreation, sport and culture, 11.8% from 10.7%; and education services, 5.1% from -7.3%.
Two commodity groups, restaurants and accommodation services (5.3%) and financial (0.0%), retained their inflation rate level a month ago./PN
