FOOD ITEMS. A merchandiser restocks food items at a supermarket in Bacolod City in this file photo. Inflation rates in Negros Occidental and Bacolod City decreased in March compared to February this year, the Philippine Statistics Authority said in a report released on Tuesday (April 11, 2023). (PNA-Bacolod file photo)
BACOLOD CITY – Inflation rates for all income households in Negros Occidental and this capital city slowed down in March compared to February this year, the Philippine Statistics Authority (PSA) here said.
In a summary report released on Tuesday night, the PSA said Negros Occidental exhibited slightly lower inflation, from 12.4 percent to 10.8 percent, while Bacolod City, from 11.2 percent to 8.7 percent.
Luis Gonzales, chief statistical specialist of PSA-Negros Occidental, said these were due to the slight annual decreases in the prices of some commodities.
In the province, minimal decreases were noted in food and non-alcoholic beverages, alcoholic beverages and tobacco, housing/water/electricity/gas and other fuels, and transport.
Decreases in this city were only in the prices of some commodity groups, such as food and non-alcoholic beverages, as well as housing/water/electricity/gas and other fuels, and transport.
The report added that “food inflation in Negros Occidental’s moderate monthly reduction in the seasonally adjusted Consumer Price Index (CPI) for March 2023 resulted in a slight decrease in inflation – at 11 percent from 12.2 percent in February and 12.7 percent in January.”
“Also in Bacolod City, food inflation declined to 8.5 percent from the previous month annual growth rate of 10.2 percent and 10.4 percent in January 2023,” it added.
For non-food inflation, Negros Occidental posted an average of 10.5 percent while Bacolod City, 8.5 percent in March, which are lower than the 12.7 percent and 11.6 percent, respectively in February.
The CPI provides a general measure of the changes in average retail prices of commodities bought by a specific group of consumers in a given area and a given period.
Inflation is the annual rate of change or the year-on-year change of the CPI expressed in percent and is interpreted in terms of the declining purchasing power of money. (PNA)
