- CHERYL G. CRUZ
Negros Occidental’s inflation rate in November decelerated to 4.7 percent from 7.8 percent in October, and 4.2 percent from 6.4 percent in the highly-urbanized Bacolod City, the Philippine Statistics Authority-Negros Occidental said today, Dec. 6.
This is the slowest rate for the province since July 2021 when it logged a 4.6 percent inflation, and July 2022 for Bacolod, when it also recorded a 4.2 percent inflation, the PSA summary inflation and consumer price index for all income households report showed.
PSA Negros Occidental OIC chief statistical specialist, John Campomanes, said the decrease in the prices of food and non-alcoholic beverages, alcoholic beverages and tobacco, clothing and footwear, housing/water/electricity/gas and other fuels, furnishing/household maintenance, transport, recreation/sports and culture, restaurants and accommodation services, and personal care and miscellaneous goods and services contributed to the decline of inflation in the province.
Bacolod also exhibited a decrease in prices in commodities like food and non-alcoholic beverages, alcoholic beverages and tobacco, clothing and footwear, housing/water/electricity/gas and other fuels, health, furnishing/household maintenance, transport, restaurants and accommodation services, and personal care and miscellaneous goods and services, he added.
Overall inflation in the country also slowed down further to 4.1 percent in November, from 4.9 percent the month previous. This brings the national average inflation from January to November 2023 at 6.2 percent, the PSA said.
The downtrend was primarily due to lower growth rate of the heavily-weighted food and non-alcoholic beverages, transport, and restaurants and accommodation services index, it added./CGC
