INFLATION in Central Visayas quickened to 3.3 percent in November from 2.6 percent in October, making it the fastest in four months and outpacing the national average, latest data from the Philippine Statistics Authority (PSA) showed.
The acceleration was driven largely by higher prices in food, utilities, clothing
and transport.
The region’s quicker pace stood in contrast to the national trend, where headline inflation slowed to 1.5 percent in November from 1.7 percent in October.
The latest inflation print is also well within the Bangko Sentral ng Pilipinas’ (BSP) forecast range of 1.1 percent to 1.9 percent for the month. Year-to-date inflation stood at 1.6 percent, below the government’s target band of three percent ± one percentage point.
The PSA said the downtrend in the national figure was mainly driven by slower increases in the food and non-alcoholic beverages index, which decelerated sharply to 0.1 percent from 0.5 percent.
Central Visayas’ inflation
Central Visayas, however, posted increases across several major commodity groups:
Food and non-alcoholic beverages: up to 3.5 percent in November from 2.9 percent
Alcoholic beverages and tobacco: slightly higher at 3.7 percent from 3.6 percent
Clothing and footwear: rose to 1.6 percent from
1.2 percent
Housing, water, electricity, gas and other fuels: quickened to four percent from
3.1 percent
Transport: surged to 5.9 percent from one percent, marking the steepest increase
Information and communication: steady at 0.9 percent
Recreation, sports and culture: unchanged at 0.6 percent
Education services: steady at 2.6 percent
Restaurants and accommodation services: unchanged at one percent
The spike in utilities and transport costs were among the biggest contributors to the region’s inflation jump.
National inflation
Nationwide, the PSA identified housing, water, electricity, gas and other fuels as the top contributor to November inflation, accounting
for 38.6 percent of the total, followed by restaurants and accommodation services (16.9 percent) and transport (10.2 percent).
National food inflation posted a 0.3 percent decline, reversing October’s 0.2 percent increase. Lower prices of vegetables, meat, eggs and sugar contributed to the national easing. Core inflation also softened to 2.4 percent from 2.5 percent.
Inflation in the National Capital Region (NCR) slowed to 2.8 percent from 2.9 percent, while areas outside NCR slipped to 1.2 percent from 1.3 percent. Seven regions recorded lower inflation in November — except Central Visayas, which again topped the list.
The Department of Economy, Planning, and Development (DEPDev) said government actions to stabilize food supply were crucial to the national inflation slowdown.
DEPDev Secretary Arsenio Balisacan said measures such as strengthening food supply chains, improving food security and widening access to affordable rice helped temper inflationary pressures.
“The sustained moderation in inflation reflects our commitment to protect consumers and strengthen our economic resilience against global and domestic headwinds,” Balisacan said. / KOC