The rate of increase in the prices of consumer goods and services in Iloilo City slowed down for the sixth straight month in August this year, according to the Philippine Statistics Authority (PSA-6).
The city, the economic center of the Western Visayas region, logged an inflation rate of 5.5 percent last month, lower compared to 5.7 percent in July.
The decline was attributed by PSA-6 to slower movement in the prices of food and nonalcoholic beverages, housing, water, electricity, gas and other fuels.
Inflation in Bacolod City also decelerated to 5.7 percent in August from 6.6 percent in July, while all of the six provinces in the region registered higher rates last month.
Negros Occidental recorded an inflation of 7.9 percent, the highest in the whole region. It was followed by Iloilo province at 5.7 percent; Capiz, 5.1 percent; Antique, 4.9 percent; Aklan, 4.5 percent; and Guimaras, 4.1 percent.
The average inflation rate in the region stood at 6.1 percent, higher than 5.8 percent recorded in July.
PSA said the increase was driven by higher costs of food and nonalcoholic beverages, transport and education services.IMT
