BACOLOD CITY – Negros Occidental’s inflation rate climbed to 4.8% in July 2024, a slight increase from 4.5% in June 2024, according to the latest report from the Philippine Statistics Authority (PSA) released on August 8.
Despite the uptick, the July figure remains significantly lower than the 7.6% inflation rate recorded in the same month last year.
The inflation rise in Negros Occidental is attributed to the annual growth in the prices of several commodities, including food and non-alcoholic beverages, clothing and footwear, housing, utilities, transport, and education services.
Conversely, sectors such as alcoholic beverages and tobacco, as well as recreation and culture, reported a decline in inflation rates.
Bacolod City, the provincial capital, also experienced a slight inflation increase, reaching 6.2% in July 2024, up from 6.1% in June.
However, this rate is lower compared to the 6.6% recorded in July 2023.
The rise in Bacolod City’s inflation was driven by higher costs in transport, recreation, education services, and restaurant accommodations.
Chief Statistical Specialist John F. Campomanes of PSA Negros Occidental emphasized the mixed trends in inflation, noting that while some sectors showed growth, others experienced a deceleration or maintained their previous rates.
In Bacolod City, the increase in the transport sector’s inflation was notable, with a rise to 2.4% in July from 1.9% in June.
Education services also saw a significant jump to 19.8%, up from 17.2% in the previous month.
