Bacolod City inflation rate declines in February

The inflation rate for all income households in Bacolod City declined to 11.2 percent in February this year compared to 12.1 percent in January, the latest report of the Philippines Statistics Authority (PSA) showed.

Based on the summary inflation report and consumer price index dated March 8, it is still much higher than the 3.5 percent in February 2022.

Nelida Amolar, chief statistical specialist and officer-in-charge of PSA Negros Occidental province, said last month’s decline could be attributed to a slight decrease in the indices of some commodities.

These include food and non-alcoholic beverages from 10.3 percent in January to 10 percent in February; alcoholic beverages and tobacco, 16.4 percent to 13.5 percent; clothing and footwear, 2.9 percent to 2.8 percent; and housing, water, electricity, gas and other fuels, 19.6 percent to 16.5 percent.

Also, prices of transport eased from 18.4 percent to 15.2 percent; information and communication, 0.5 percent to 0.1 percent; and recreation, sports and culture, 4.2 percent to 3.9 percent.

Higher inflation rates were observed in the indices of furnishing, household equipment and routine household maintenance; restaurants and accommodation services; and personal care and miscellaneous goods and services while the indices of the rest of the commodities retained the previous month’s annual growth rates, the report added.

Meanwhile, in Negros Occidental, inflation rate rose to 12.4 percent in February from 12.2 percent in January.

According to the report, there has been a slight increase in the indices of alcoholic beverages and tobacco; clothing and footwear; furnishing and household equipment; health; restaurant and accommodation services; and personal care and miscellaneous goods and services.

Lower inflation rates were noted in the prices of food and non-alcoholic beverages; recreation, sports and culture; and housing, water, electricity, gas and other fuels.*PNA

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