ILOILO City – Inflation in Western Visayas slowed to 2.7% in February 2025, a notable decrease from 3.6% in January, according to the Philippine Statistics Authority (PSA) Region 6.
However, despite the decline the region still recorded the second-highest inflation rate in the country.
During a press conference on March 17, Miguel S. Gallego I, Statistical Specialist II of PSA Region 6, explained the key factors behind the decline.
“The decrease in inflation was primarily driven by slower price increases in food and non-alcoholic beverages, as well as housing, water, electricity, gas, and restaurant and accommodation services,” Gallego said.
Among the major commodity groups, food and non-alcoholic beverages saw a significant drop in inflation, falling from 3.4% in January to 2.4% in February. The decline was largely attributed to lower prices of fish, seafood, cereals, and cereal products.
“Food and non-alcoholic beverages contributed 52% to the overall downtrend in inflation for the month,” Gallego noted.
In particular, fish and other seafood saw a deflation of -0.3% in February, compared to a 0.9% inflation rate in January.
Cereal and cereal products also dropped significantly, from 3.3% in January to just 1.0% in February.
The housing, water, electricity, gas, and other fuels sector also contributed to the slowdown, with its inflation rate declining from 3.6% in January to 2.9% in February. This was mainly due to lower electricity costs, which fell from 8.6% in January to 4.3% in February.
Another major contributor was the restaurants and accommodation services sector, which saw inflation decrease from 6.0% in January to 3.9% in February.
Iloilo Records Highest Inflation in the Region
Among the provinces in Western Visayas, Iloilo recorded the highest inflation rate at 4.5%, while Antique had the lowest at 0.0%.
The inflation rate in Iloilo City also dropped significantly, from 5.1% in January to 3.7% in February, while Bacolod City posted a 3.3% inflation rate.
Despite the declining trend, Gallego emphasized that inflation remains a critical economic concern for the region.
“While inflation has slowed, Western Visayas still has one of the highest inflation rates in the country. We continue to monitor price movements and economic conditions to assess their impact on consumers and businesses,” he said.
The PSA Region 6 is expected to release its next report in April, detailing inflation trends for March 2025./PN
