The inflation rate for all income households in Negros Occidental eased further to 2 percent in February, from 2.7 percent in January and 3.7 percent in December, the Philippine Statistics Authority (PSA) reported on Friday, March 14.
In a press briefing, PSA-Negros Occidental supervising statistical specialist Diesah Biaoco said the major contributors to February inflation were food and non-alcoholic beverages at 0.4 percent, contributing 45.3 percent to the overall inflation; restaurants and accommodation services at 4.4 percent (39.8 percent share); and transport at -0.6 (9.1 percent share).
Lower food prices contributed to the decline at only 0.1 percent in February compared to 1.2 percent in the previous month, along with food and beverage services at 4.3 percent from 9.8 percent in January.
The major commodity groups with lower inflation were clothing and footwear at 6.3 percent from 6.8 percent in January; furnishings/household equipment and routine household maintenance, 2 percent from 2.8 percent; and personal care and miscellaneous goods and services, 2.4 percent from 2.7 percent.
Meanwhile, February inflation settled at 3.3 percent in Bacolod City, unchanged from January.
Main sources of inflation were food and non-alcoholic beverages and education services, same as the January level of 2.9 percent and 14.9 percent, respectively; and restaurants and accommodation services, 8.1 percent from 7.6 percent in the previous month.
Among the major commodity groups with lower inflation were clothing and footwear at 6.8 percent from 9.4 percent in January; furnishings/household equipment and routine household maintenance, 2.3 percent from 3 percent; transport, -1.1 percent from 0.7 percent; information and communication, 0.4 percent from 1.1 percent; and recreation, sports, and culture, 4.8 percent from 5.4 percent.
Inflation is the annual rate of change or the year-on-year change of the consumer price index (CPI) expressed in percent and interpreted in terms of the declining purchasing power of money.
The CPI provides a general measure of the changes in average retail prices of commodities bought by a specific group of consumers in a given area and period.*PNA