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WV inflation surges to 8%

Inflation in Western Visayas accelerated to 8 percent in October from 7.5 percent in September, the fifth highest among the regions, data from the Philippine Statistics Authority showed on Friday, November 4.

The national headline also went up to 7.7 percent from 6.9 percent in the previous month, PSA said.

PSA said this is the highest recorded national inflation since December 2008.

With this month’s inflation, the Philippines’ average inflation rate from January to October 2022 stood at 5.4 percent, PSA said.

In October 2021 the inflation rate was observed at 4 percent.

The continued uptrend of the October 2022 inflation was primarily due to the higher annual growth rate in the index for food and non-alcoholic beverages at 9.4 percent, from 7.4 percent in September 2022, PSA said.

On the other hand, slower annual increases were observed in the indices of transport at 12.5 percent, and education services at 3.4 percent.

Following the trend at the national level and in NCR, inflation in Areas Outside National Capital Region (AONCR) rose to 7.6 percent in October 2022, from 7 percent in September 2022. In October 2021, inflation rate in the area stood at 4.4 percent.

For the regions, Davao has the highest inflation rate at 6.5, followed by Zamboanga Peninsula with 9 percent, and MIMAROPA with 8 percent.

Bangsamoro Autonomous Region in Muslim Mindanao, meanwhile, has the lowest inflation rate at 9.8.*

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