The inflation rate declined in February in Bacolod City.
According to the Philippines Statistical Authority’s (PSA) most recent data, the inflation rate for households with all incomes in this city decreased from 12.1 percent in January to 11.2 percent in February of this year.
It is still much higher than the 3.5 percent in February 2022, according to the consumer price index and summary inflation report from March 8.
The fall from the previous month may be ascribed to a modest decline in the indices of various commodities, according to Nelida Amolar, chief statistics specialist and officer-in-charge of PSA Negros Occidental province.
Food and non-alcoholic beverages fall into this category between 10.3 and 10 percent in January and February, followed by alcoholic beverages and tobacco between 16.4 and 13.5 percent, clothing and footwear between 2.9 and 2.8 percent, and housing, water, electricity, gas, and other fuels between 19.6 and 16.5 percent.
Also, the cost of transportation decreased from 18.4% to 15.2%; that of information and communication fell from 0.5 to 0.1 percent; and that of leisure, sports, and culture decreased from 4.2 to 3.9 percent.
According to the report, higher inflation rates were seen in the indices for restaurants and lodging services, personal care and other goods and services, and furniture, household equipment, and routine home maintenance, while the indices for the remaining commodities maintained the annual growth rates from the previous month.
The inflation rate in Negros Occidental, meanwhile, increased to 12.4% in February from 12.2% in January.
The research claims that the indexes for alcoholic beverages and tobacco, clothing and footwear, furniture and domestic equipment, health, restaurant and lodging services, personal care, and other goods and services have all seen a minor increase.
The cost of food and non-alcoholic beverages, leisure, sports, and culture, as well as housing, water, electricity, gas, and other fuels, all had lower rates of inflation.
Save/Share this story with QR CODE
Disclaimer: This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.
📩 Need to get in touch? Feel free to Email Us for comments, suggestions, reviews, or anything else.
We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).
World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.