- CHERYL G. CRUZ
Inflation rate in the highly-urbanized Bacolod City for August declined further to 5.7 percent from 6.6 percent in July, but slightly increased in Negros Occidental, at 7.9 percent from July’s 7.6 percent, the Philippine Statistics Authority said.
This is the eighth straight month that inflation declined in Bacolod, and the first upward trend in the province since March this year.
PSA Negros Occidental OIC chief statistical specialist John Campomanes said in the summary inflation report and consumer price index for all income households, released Sept. 8, that the slight hike noted in the province was due to the increase in the prices of food and non-alcoholic beverages, as well as transport items.
The deceleration in Bacolod, meanwhile, was brought by slight decreases of prices in commodity groups, like food and non-alcoholic beverages, alcoholic beverages and tobacco, clothing and footwear, housing, water, electricity, gas and other fuels, recreation, sports and culture, restaurants and accommodation services, and personal care and miscellaneous goods and services.
The inflation rate is the change of the CPI or consumer price index, a measure of movements in average retail prices of commodities, the PSA said, adding that inflation is interpreted in terms of the declining purchasing power of money.
Campomanes also said that food inflation in Negros Occidental was at 9.8 percent in August from 7.9 percent in July; and 8.0 percent from 8.3 percent in July in Bacolod.
The non-food inflation for August in Negros Occidental was posted at 6.8 percent, from 6.9 percent in July; and at 4.2 percent from 5.4 percent in Bacolod.
The PSA last week said the Philippines’ headline, or overall inflation, increased to 5.3 percent in August from 4.7 percent in July.
The uptrend in the overall inflation for last month was primarily influenced by the higher increase in the heavily-weighted food and non-alcoholic beverages at 8.1 percent; transport at 0.2 percent; and recreation, sport and culture index at 4.9 percent, it added./CGC
