Business

Western Visayas inflation slides to 2.5%

Erwin P. Nicavera

THE inflation rate in Western Visayas has slowed down to 2.5 percent in October 2020 compared to 2.8 percent in September 2020, the Philippine Statistics Authority (PSA) reported.

The region's latest inflation is the same compared to the country's inflation and that of the National Capital Region (NCR).

Among the areas outside NCR, Western Visayas ranked eighth highest.

In terms of per commodity group, the PSA noted a drop in inflation in food and non-alcoholic beverages, from 1.4 percent to 0.9 percent.

Other commodity groups with lower inflation are alcoholic beverages and tobacco -- 14 to 13 percent; housing, water, electricity, gas and other fuel -- 0.3 to 0.2 percent; furnishing, household equipment and routine maintenance of the house -- 3.7 to 3.6 percent; transport -- 12.6 to 11.8 percent; and communication -- 0.4 to 0.3 percent.

The agency, meanwhile, reported an increase in inflation in commodity groups like clothing and footwear -- 2 to 2.3 percent; health 4.1 to 4.4 percent; recreation and culture -- (-)0.6 to (-)0.7 percent; and education -- 3.9 to 4 percent.

A steady inflation was noted in restaurants and miscellaneous goods and services, at 2.6 percent.

On a national level, the country's headline inflation of 2.5 percent accelerated from 2.3 percent in September.

The PSA said higher overall inflation was primarily brought about by the increase in the inflation of the heavily-weighted food and non-alcoholic beverages at 2.1 percent during the month, from 1.5 percent in September 2020.

Likewise, annual mark-ups were higher in the indices of education at 1.2 percent, and restaurant and miscellaneous goods and services, 2.4 percent, it added.

THREAT. According to a Capitol consultant, the Cebu City Government is threatening to shut down the Cebu North Bus Terminal at the back of SM City Cebu (left) and the Cebu South Bus Terminal along N. Bacalso Ave. for operating without a business permit. The Province, which runs both terminals, maintains that it operates the facilities as a public service for passengers going to the province and vice versa. /

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