Western Visayas Inflation Rate Drops to 1.9 Percent in April
The inflation rate in the Western Visayas region declined for the second consecutive month, falling from 2.7 percent in March to 1.9 percent in April. This downward trend reflects a 0.8 percent decrease, according to local economic reports. The steady reduction in inflation offers some relief amid ongoing economic concerns.
Factors Behind the Inflation Rate Decline
Reports indicate that the main reason behind the slower inflation rate was the reduced annual growth in prices for food and non-alcoholic beverages. The index for this category grew by only 0.8 percent in April, down significantly from 2.7 percent in March. This slowdown in food price increases heavily influenced the overall inflation figures.
Additionally, transportation costs contributed to the decline. The transportation price index dropped further to -2.1 percent in April from -1.1 percent the previous month. Housing-related expenses, including water, electricity, gas, and other fuels, also showed a decrease, helping to ease inflation pressures.
Inflation Rates Across Western Visayas Provinces
Among the provinces, Iloilo province and Iloilo City recorded the highest inflation rate at 3.2 percent in April. Meanwhile, Antique province experienced the lowest inflation with a rate of -1.6 percent, showing deflation in that area.
Other areas in the region had varied inflation rates: Bacolod City reported 2.2 percent, Negros Occidental province stood at 2.1 percent, Capiz province at 1.7 percent, Guimaras province at 0.5 percent, and Aklan province saw a decline with -1.2 percent.
The continued drop in the Western Visayas inflation rate signals a positive trend for consumers, especially with food and transportation costs easing. Economic analysts and community leaders remain watchful of these changes as they affect daily living expenses across the region.
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