FOR two consecutive months this year, inflation rate in Western Visayas has slowed down, reports from the Philippine Statistics Authority (PSA) showed.
From 3.3 percent in February, it lowered to 3.2 percent in March. The latest figure is also 0.9 percent lower than January's inflation of 4.1 percent.
The PSA's Year-On-Year Regional Inflation Rates reports further showed that Western Visayas is the seventh lowest in terms of inflation rate in the country in March.
The region's inflation, or the sustained increase in the general price level of goods and services, is also lower than the average rate for areas outside National Capital Region (NCR) at 3.4 percent.
It is the same with the inflation rate of NCR while lower than the country's headline inflation of 3.3 percent.
In terms of commodity groups, the PSA reported a decrease in inflation in food and non-alcoholic beverages from February to March (5.1 to four percent), alcoholic beverages and tobacco (11 to 10 percent), transportation (2.2 to one percent), recreation and culture (2.8 to 2.7 percent) and restaurant and miscellaneous goods and services (2.4 to 2.3 percent).
Increases were noted in clothing and footwear (0.8 to 1.3 percent); housing, water, electricity, gas and other fuel (2.5 to 2.8 percent); furnishing, household equipment and routine maintenance of the house (1.6 to 1.8 percent); and health (1.4 to 1.7 percent).
Steady rates, meanwhile, were noted in communication (0.5 percent) and education (0.6 percent), it added.
Frank Carbon, chief executive officer of Metro Bacolod Chamber of Commerce and Industry, said lower inflation encourages consumer spending which will help grow the economy.
Carbon said consumer spending starting March has increased compared to same period last year.
“We are expecting that such spending trend will continue up to May,” he said, adding that it will taper off in June because of school opening.
A good portion of disposable income will be reserved for education, the business leader stressed.
For the labor sector, Wennie Sancho, secretary general of General Alliance of Workers Associations, said the slight decrease in the prices of commercial rice and table sugar had contributed to the lowering of inflation.
Sancho said when there is more or adequate supply, prices go down.
“However, government statisticians have their own way if making a poor economy look rosy. Statistics can be manipulated by the government,” he said.
The labor leader asked if the lowering of inflation increases the purchasing power of the workers.
“What is its impact to the poor? Unfortunately, as of now, the decrease in inflation is not being felt by the consumers,” Sancho added.