By Mariela Angella Oladive
Inflation in Western Visayas rose to 3.4% in December 2024, up from 3.2% in November, prompting the Philippine Statistics Authority (PSA) Regional Statistical Services Office 6 (RSSO 6) to call for disciplined electricity use and strategic spending habits to ease the impact on consumers.
“Budgeting has become tighter. With PHP 500 to PHP 1,000, you can buy so little now,” said Cherry Ann A. Gallego, Statistical Specialist II of PSA RSSO 6, during a press briefing on Jan. 15.
Gallego advised the public to conserve electricity by unplugging unused appliances and make informed financial decisions, particularly when buying food. She encouraged choosing affordable options that offer greater value.
She also expressed hope that the government would implement measures to help ease the burden of rising costs.
Inflation Drivers
The PSA reported that the inflation surge was primarily driven by housing, water, electricity, gas, and other fuel costs, which rose by 4.8% in December from 3.3% in November. Transportation and household goods also contributed to the uptrend, with inflation rates rising to 1.8% and 4.1%, respectively, from -0.1% and 3.4%.
Other commodities experiencing price hikes included alcoholic beverages and tobacco (3.7%), information and communication (0.7%), and recreation, sport, and culture (2.7%).
Food Inflation Trends
Food inflation in the region slightly declined to 2.8% in December from 3.4% in November, primarily due to a decrease in the inflation of cereals and cereal products, which dropped from 10.3% to 7.0%. However, meat, seafood, and vegetables saw price increases, with meat inflation rising to 2.8%.
Food remains a major inflation contributor, accounting for 32.8% of the regional headline inflation rate. Key contributors included cereals, meat, and dairy products like milk and eggs.
For the Bottom 30% Income Households, inflation remained steady at 3.7%, unchanged from November 2024 but lower than 4.1% in December 2023. Food and non-alcoholic beverages contributed to half of the inflation rate for this income group.
Provincial Inflation Rates
Among provinces, Iloilo recorded the highest inflation rate at 4.2%, slightly lower than 4.4% in November. Guimaras registered the lowest at 2.8%, up from 2.5%. Iloilo City saw the steepest increase, with inflation surging to 5.4% from 3.4%.
The region’s annual average inflation for 2024 was 3.7%, exceeding the national average of 2.9%.
The Consumer Price Index (CPI) in Western Visayas rose by 30.5% from the base year 2018 to December 2024. This means goods and services that cost PHP 100 in 2018 now cost PHP 130.50. The purchasing power of one peso in 2018 is equivalent to 77 centavos in December 2024.
