By Mariela Angella Oladive
Inflation in Western Visayas climbed to 3.6% in January 2025, up from 3.4% in December, making it the third highest among regions outside the National Capital Region (NCR), according to the Philippine Statistics Authority (PSA)-6. The region’s inflation also exceeded the national rate of 2.9%.
In a press briefing on Feb. 10, Statistical Specialist I Miguel Gallego attributed the increase to rising costs in food and non-alcoholic beverages, transport, and restaurant and accommodation services.
Food inflation in the region rose to 3.4% in January from 2.8% in December, with notable price hikes recorded in:
- Fish and seafood: 0.9% (from -2.9%)
- Vegetables: 6.7% (from 0.8%)
- Meat: 5.2% (from 2.8%)
Meanwhile, transport inflation increased to 2.2% from 1.8%, while restaurant and accommodation services recorded 6.0% inflation, up from 5.6% the previous month.
Among the 13 major commodity groups, eight recorded higher inflation rates in January compared to December.
“For the last three months, we’ve seen a steady increase in inflation. The January rate marks the highest since October 2024, when it was 3.9%. Several factors are at play, including natural calamities affecting agriculture and increased demand during the holiday season,” Gallego said.
He also noted that festivals and holidays indirectly impact inflation, particularly in meat prices, due to rising production costs.
Fuel prices and fluctuations in electricity rates also play a significant role in inflation trends, he added. However, Gallego expressed optimism that inflation may ease in the coming months as the region enters harvest season, which could help stabilize food supply and prices.
While overall inflation increased, some sectors experienced slower price growth:
- Housing, water, electricity, gas, and other fuels: 3.6% (down from 4.8% in December)
- Inflation for bottom 30% income households: 3.4% (down from 3.7%), mainly due to lower growth in housing and utility costs
Among Western Visayas provinces, Iloilo recorded the highest inflation at 5.4%, up from 4.2% in December. Aklan had the lowest inflation rate at 2.3%, rising slightly from 1.4%.
The Consumer Price Index (CPI) indicated a 31.1% increase in the cost of goods and services since 2018, meaning that a P100 basket of goods in 2018 now costs P131.10.
Additionally, the purchasing power of the peso has weakened, with one peso in 2018 now worth only 76 centavos.