By Glazyl Y. Masculino
BACOLOD CITY – The inflation rate for all income households in Bacolod City increased in May, while it decreased in Negros Occidental, according to a summary report from the Philippine Statistics Authority (PSA) released on Monday.
In Bacolod City, the inflation rate rose to 4.5 percent last month from 3.9 percent in April, while in Negros Occidental, it fell to 4.2 percent from 4.4 percent in April. Year-on-year, the inflation rate in May 2023 was 7.5 percent in Bacolod City and 8.3 percent in Negros Occidental.
“In Bacolod City, the rise was attributed to a slight increase in the indices of some commodities from April this year,” the report said.
Price increases were noted in food and non-alcoholic beverages, which rose to 6.1 percent from 4.7 percent; clothing and footwear, which increased to 11.4 percent from 10.1 percent; housing, water, electricity, gas, and other fuels, which rose to 0.7 percent from 0.1 percent; and transport, which increased to 2.9 percent from 2.5 percent.
However, the indices of food, alcoholic beverages and tobacco, furnishing/household equipment and routine household maintenance, health, recreation, sports and culture, personal care, and miscellaneous goods and services registered lower inflation rates.
Records indicated that the annual rate decrease in Bacolod City for food and non-alcoholic beverages was recorded in some commodities, contributing to the downward year-on-year inflation rate.
These include cereals and cereal products, which dropped to 13.2 percent from 14.8 percent; rice, which fell to 17.5 percent from 19.2 percent; flour, bread, and other bakery products, which decreased to 2.8 percent from 4.0 percent; milk and other dairy products and eggs, which fell to 5.1 percent from 7.0 percent; oils and fats, which decreased to 1.6 percent from 3.5 percent; fruits and nuts, which fell to 6.5 percent from 8.6 percent; and sugar/confectionery and desserts, which dropped to 0.4 percent from 1.3 percent.
Non-food inflation in Bacolod City last month posted an increase to 3.6 percent from 3.3 percent in April, due to the annual year-on-year increase in the indices of some commodities like clothing and footwear, housing, water, electricity, gas, and other fuels, and transport.
In Negros Occidental, the inflation rate showed a minimal decrease, with some commodities having a negative annual growth rate, including food and non-alcoholic beverages, alcoholic beverages and tobacco, furnishings/household equipment and routine household maintenance, health, recreation and sports and culture, and personal care and miscellaneous goods and services.
Meanwhile, housing, water, electricity, gas, and other fuels, and transport showed positive growth rates last month.
Non-food inflation in the province slightly increased to 2.2 percent from 1.9 percent in April due to the hike in prices of some commodities like clothing and footwear, and housing, water, electricity, gas, and other fuels, based on the records.
John Campomanes, chief statistical specialist of the PSA-Negros Occidental, said in a press briefing yesterday that the inflation rate increased due to the rise in food supply and transportation costs, considering that food supplies are also transported outside the city.
He noted that the major reason for the inflation increase is the rise in power rates.
Campomanes said they could not predict when the inflation rate might decrease, considering the recent eruption of Kanlaon Volcano.
He mentioned that the eruption might affect the supply and prices of vegetables, as most are sourced from upland barangays like Canlaon City, Negros Oriental.
He advised consumers to buy only necessary commodities to avoid overspending and encouraged the public to monitor market prices and stay informed about current events.
