WV inflation drops to 4.5% in June

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Inflation in Western Visayas (WV) has dropped to 4.5 percent in June, the Philippine Statistics Authority (PSA) reported Tuesday, July 6.

The national inflation also went down to 4.1 percent from 4.5 percent in the previous month.

The slower pace in the inflation was primarily due to the lower annual rate of increase in the transport index at 9.6 percent, from 16.5 percent in May, the PSA said.

Inflation also slowed down in the indices of alcoholic beverages and tobacco, 11.2 percent; clothing and footwear, 1.6 percent; health, 2.9 percent; and communication, 0.2 percent.

Meanwhile, inflation rates were higher in the indices of food and non-alcoholic beverages at 4.7 percent; housing, water, electricity, gas, and other fuels, 2.4 percent; and restaurant and miscellaneous goods and services, 3.9 percent.

For the regions, Bicol remained with the highest inflation in June at 6.3 percent from 7.5 percent in May, followed by Cagayan Valley with 6.2 percent from 6.5 percent, CALABARZON with 5.4 percent from 5.8 percent, and SOCCSKSARGEN, which remained at4.8 percent.

WV came in fifth with 4.5 percent from 4.9 percent in the previous month, while Central Visayas remained to have the lowest inflation in June with 1.7 percent from 2.1 percent.

The Bangko Sentral ng Pilipinas, in a statement Tuesday, said that food inflation was steady in June as meat inflation eased, given the additional supply from pork imports while rice inflation declined further.

The latest inflation outturn is consistent with the BSP’s expectations that inflation will settle at the high end of the target range in 2021, the statement said.

Price pressures are seen to abate as supply-side factors ease with average inflation reverting near the midpoint of the target in 2022 to 2023, it added.*

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