The rate of increase in prices of goods and services in Iloilo City accelerated to 12.4% in November this year from 11.3% in October, data from the Philippine Statistics Authority (PSA-6) showed.
The city’s latest inflation rate was the highest in the whole Western Visayas. It even surpassed the regional average of 9.6% and the national average of 8%.
Negros Occidental posted the second-highest inflation rate in the region at 11.1%; followed by Antique, 9.3%; Iloilo province, 8.8%; Bacolod City, 8.3%; Guimaras 8.3%; Capiz, 7.7%; and Aklan 7.5%.
The region’s November inflation rate went up by 1.6% from 8% in October. In September and August, its inflation stood at 7.5% and 7.4%, respectively.
Nelida Amolar, chief statistical specialist and officer-in-charge of PSA-6, attributed the acceleration of inflation to the higher year-on-year growth rate in the index of food and non-alcoholic beverages at 10.1% from 8.9% in October.
“This was followed by housing, water, electricity, gas, and other fuels whose index increased to 11.7% from 9.2% in October,” she added.
Amolar also cited as factor the higher annual increment in the index of restaurants and accommodation services at 9.9% from 7.0% in October.IMT
Photo by Ian Paul Cordero/IMT NEWS
