ILOILO City – Western Visayas’ inflation eased to 10.3 percent in January from
10.5 percent in December 2022, after 10 consecutive months of acceleration.
In January 2022, inflation was lower at 4.6 percent.
The slowdown of inflation in January 2023 was primarily due to the lower annual growth recorded in the index of Food and non-alcoholic beverages at 10.6 percent, from 11.1 percent in December 2022.
This was followed by Restaurants and accommodation services whose index declined to 8.8 percent, from 9.7 percent in the previous month.
Next is Clothing and footwear with an inflation rate of 3.4 percent in January 2023, from 3.5 percent.
Lower annual increases were also observed in the indices of the following commodity groups:
* Alcoholic beverages and tobacco, 12 percent
* Recreation, sport and culture, 4.7 percent
On the other hand, inflation rates were higher for the following commodity groups during the month:
* Housing, water, electricity, gas and other fuels, 15.1 percent
* Furnishings, household equipment and routine household maintenance, 7.4 percent
* Health, two percent
* Transport, 14.7
* Information and communication, 2.6 percent
* Personal care, and miscellaneous goods and services, 6.8 percent
Meanwhile, inflation for Education services (0.4%) and financial services (0.0%) remained at their previous month’s inflation rates.
Food inflation in Western Visayas slowed down to 11 percent in January 2023,
from 11.4 percent in December 2022.
Food inflation in January 2022 was recorded
at 6.3 percent.
The deceleration in food inflation was mainly brought about by slower annual growth in the food sub-groups of Meat and other parts of slaughtered land animals at 7.6 percent in January 2023, from 10.9 percent in December 2022 and Cereals and cereal products at 6.7 percent, from 7.5 percent in the previous month.
In addition, slower annual increments were also noted in the indices of Vegetables, tubers, plantains cooking bananas and pulses at 23.5 percent, and Fruits and nuts at 10.6 percent.
On the other hand, faster annual growth was noted in the following food groups:
* Fish and other seafood, 8.5 percent
* Milk, other dairy products and eggs, 10.2 percent
* Oils and fats, 20.1 percent
* Sugar, confectionery and desserts, 45.3 percent
* Ready-made food and other food products not elsewhere classified, 7.9 percent
Provinces
Five of the six provinces in Western Visayas, except for Aklan reported slowdown in inflation rates in January 2023 from December 2022.
Negros Occidental recorded the highest monthly inflation rate of 12.2 percent, while Aklan had the lowest at 7.9 percent.
Among the highly urbanized cities in the region, Iloilo City inflation showed a deceleration
to 12.4 percent from 13.5 percent in the previous month.
On the other hand, Bacolod City inflation rose to 12.1 percent during the period, from 9.7 percent in December 2022. (PSA/PN)
