Inflation in Iloilo City eases in Jan. 2023

Inflation in Iloilo City slowed down in the first month of 2023, data from the Philippine Statistics Authority (PSA) showed.

From 13.5 percent in December last year, the city’s rate of increase in prices of goods and services dropped to 12.4 percent in January this year.

However, the latest figure was still the highest in Western Visayas (WV). It was also higher than the regional average of 10.3 percent and the national average of 8.7 percent.

Negros Occident posted the second-highest inflation rate at 12.2 percent; followed by Bacolod City, 12.1 percent; Antique, 9.2 percent; Iloilo province and Capiz, 8.8 percent, Capiz and Guimaras, 8 percent; and Aklan 7.9 percent.

The region’s inflation rate last month was lower compared 10.5 percent in December 2022.

Nelida Amolar, chief statistical specialist and PSA-6 officer-in-charge (OIC), said WV’s price growth rate dropped after 10 consecutive months of acceleration.

“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,’’ she explained.IMT