Eastern Visayas has begun developing its budget proposal for 2023, using the Regional Development Council's…
Inflation in Eastern Visayas declined in September.
Eastern Visayas was the only region in the nation to show a downward trend during the month, where the inflation rate (IR) dropped from 7.2 percent in August to 6.9 percent in September of this year.
According to Wilma Perante, regional director for PSA Eastern Visayas, the regional IR slowed down in September 2022 mostly because of the decreased annual growth shown in the housing, water, electricity, gas, and other fuel indexes.
“The transport index came next, with a double-digit IR fall from 13.5 percent in August 2022 to 11.5 percent in September 2022. As of August 2022, the index for alcoholic beverages and tobacco has decreased IR to 6.8%. “In a telephone conversation, Perante stated.
Health, recreation, sport, and culture; personal care; miscellaneous products and services; clothing and footwear; furniture; domestic equipment; and routine household maintenance all had higher IRs.
“The faster IR in the index for fish and other seafood and the double-digit IRs of sugar, confectionery, sweets, wheat, bread, other bakery items, pasta products, and cereals were the main influences on the acceleration in the food inflation,” Perante stated.
According to PSA, the remaining commodity categories either maintained their IRs from the prior month or experienced a 0% yearly increase.
Except for Eastern Visayas, she continued, all regions recorded greater IRs in September compared to their IRs in August.
Except for Eastern Samar, all provinces had decreased IRs in September.
Southern Leyte had the highest IR among the provinces last month, at 9.5 percent. The IR for Eastern Samar came in second at 8.9 percent, followed by Biliran at 7.6 percent, Samar at 6.6 percent, and Northern Samar at 8.9 percent. Leyte had the lowest IR, at 5.9 percent.
This city’s IR increased from 4.2 percent last month to 4.5 percent in September, making it the only highly urbanized city in the area.
The consumer price index’s yearly rate of change, often known as its year-over-year changes, is known as the inflation rate. It shows how quickly or slowly the price fluctuates over two periods (year-on-year).
Contrary to popular belief, Perante asserted that low inflation does not always imply falling commodity prices. It means that although prices are rising, they are doing it more slowly.
Except for petroleum goods, which are checked every Friday, the Philippine Statistics Authority collects data for the consumer price index twice a month.
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