Central Visayas inflation rises to 2.9% in October

INFLATION rate in Central Visayas increased to 2.9 percent in October 2024 from 2.1 percent in September.

Ariel Florendo, Philippine Statistics Authority (PSA) 7, attributed this rise to key commodities, particularly food and non-alcoholic beverages (4.4 percent) and transportation (2.6 percent).



The main contributors to inflation in October were the food and non-alcoholic beverages sector, as well as housing, water, electricity, gas and other fuels. Florendo noted that rising prices in cereals and cereal products, vegetables, fish, seafood, sea transport and fuels and lubricants were also significant factors. Within the cereals category, items like rice, corn, flour, bread, pasta and other bakery products drove up inflation, the PSA 7 chief said.

The October inflation rate saw a significant drop from the 4.1 percent recorded in October 2023. National rate On a national level, the country’s inflation rate rose to 2.

3 percent in October from 1.9 percent in September. At a press conference on Wednesday, Nov.

13, Florendo explained that inflation measures the pace at which the average price of goods and services changes over time, helping guide government and private sector policies to control price increases. Florendo said that recent weather events, including heavy rainfall and typhoons, could impact food industry prices. Among provinces and highly urbanized cities in Central Visayas, inflation rates were highest in Bohol (2.

9 percent), Cebu (2.8 percent), Negros Oriental (two percent) and Cebu City (4.2 percent) in October.

Meanwhile, Siquijor (1.6 percent), Lapu-Lapu City (2.6 percent) and Mandaue City (2.

7 percent) experienced slight declines in inflation. / EHP.