BACOLOD CITY – The inflation rates in Negros Occidental and this highly-urbanized city significantly declined in November due to lower prices in most commodity groups, the Philippine Statistics Authority (PSA) said in its latest summary inflation report.
From 7.8 percent in October, Negros Occidental’s inflation eased to 4.7 percent in November, while that of Bacolod was down to 4.2 percent last month, from 6.4 percent in October.
In a report Wednesday afternoon, the PSA said in Negros Occidental, the decrease in prices “contributed to a decline of inflation rate for November.”
The reduction was in food and non-alcoholic beverages; alcoholic beverages and tobacco; clothing and footwear; housing/water/electricity/gas and other fuels; furnishing and household maintenance; transport; recreation/sports and culture; restaurants and accommodation services; and personal care and miscellaneous goods and services.
Bacolod also “exhibited a decrease in prices based on year-on-year consumer price index in some commodities.”
These include food and non-alcoholic beverages; alcoholic beverages and tobacco; clothing and footwear; housing/water/electricity/gas and other fuels; health; furnishing and household maintenance; transport; restaurants and accommodation services; and personal care and miscellaneous goods and services.
In terms of food and non-alcoholic beverages inflation, the monthly decrease in Negros Occidental’s seasonally adjusted consumer price index (CPI) for November resulted in the decline to 8.5 percent from 9.6 percent in October, while in Bacolod, it slowed down to 7.6 percent from 9.2 percent in October and September.
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.
Inflation is the annual rate of change or the year-on-year change of the CPI expressed in percent and interpreted in terms of the declining purchasing power of money. (PNA)