PSA urges Negrense consumers to prioritize basic household needs

Local News Official
Local News OfficialSunStar File Photo

BACOLOD CITY – The Philippine Statistics Authority (PSA) here advised Negrense consumers to prioritize basic household needs as Bacolod City and Negros Occidental recorded higher inflation in April this year.

“The number one major source of inflation is higher food prices. Buy just enough. We can prioritize the basic needs, necessity in households,” John Campomanes, chief statistical specialist of PSA-Negros Occidental, said in a press conference on Tuesday.

Data showed headline inflation rate for all income households in Negros Occidental increased from 2.3 percent in March to 4.4 percent in April this year, although much lower than the 8.8 percent in April 2023.

For the bottom 30 percent income households, the inflation rate increased from 2.7 percent in March to 5.3 percent in April, which is still lower than 8.5 percent in April last year.

The top three sources of the April 2024 overall inflation for all income households were food and non-alcoholic beverages at 7.4 percent, with 75.5 percent share; restaurants and accommodation services, at  9.3 percent, with 15.7 percent share; and personal care and miscellaneous goods and services, at 3.5 percent, with 3.4 percent share.

Food and non-alcoholic beverages; housing, water, electricity, gas, and other fuels; and transport were the three major contributors to the overall inflation in March.

In Bacolod City this year, the headline inflation rate for all income households increased to 3.9 percent in April from 3.3 percent in March, compared with 8.7 percent in April 2023.

For the bottom 30 percent income households, the inflation rate also increased to 4.8 percent in April, from 4.4 percent in March as against the April 2023 inflation rate of 10.5 percent.

In April, the top three sources of overall inflation for all income households in this highly-urbanized city were food and non-alcoholic beverages at 4.7 percent, with 40.4 percent share; education services, at 17.2 percent inflation, with 13.9 percent share; and clothing and footwear, at 10.1 percent inflation, with 10.4  percent share.

The top three contributors to the April 2024 overall inflation were housing, water, electricity, gas and other fuels; transport; and restaurants and accommodation services. (PNA)

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