Central Visayas’ inflation rate continues to decline

Local

CENTRAL Visayas’ inflation rate continued its downward trajectory, dropping to 1.7 percent in April, primarily due to the slower annual increases in food prices, according to the Philippine Statistics Authority (PSA).

Wilma Perante, officer-in-charge regional director of PSA-Central Visayas (PSA-7), said the latest inflation figure is a significant slowdown compared to 2.4 percent in March and 3.2 percent in April 2024.

She noted that the food and non-alcoholic beverages index accounted for 95.1 percent of the overall decline, positioning the region as having the ninth lowest inflation among the country’s 17 regions.

The deceleration was largely driven by deflation or slower price increases in key food groups. Cereals and cereal products saw a deeper deflation of -6.5 percent in April, down from -2.6 percent in the previous month.

The inflation rate for vegetables, tubers, plantains, cooking bananas, and pulses also saw a sharp drop to 4.7 percent from 14.0 percent.

Likewise, fish and other seafood recorded slower price growth, with inflation easing to 6.1 percent from 9.7 percent.

In addition to food, the indices for housing, water, electricity, gas, and other fuels also contributed to the overall decline, accounting for a 0.70 percentage point reduction.

The transport index followed, contributing a 0.21 percentage point decrease.

Perante emphasized that the inflation rate for the bottom 30 percent income households, which reflects the economic conditions of the most vulnerable groups, also eased to 0.3 percent in April.

This was likewise attributed to the tapering of food prices.

The PSA said the latest data indicates a moderating economic trend in Central Visayas, fueled by the stabilization of food costs across the region.(MyTVCebu)