HIGHER INFLATION. Negros Occidental's inflation rate in education services hit 16.4 percent in July this year, making it the number one major contributor, equivalent to 35.1 percent share, to the uptrend in inflation in the province last month. The July inflation rate for all income households in the province slightly expanded to 4.8 percent from 4.5 percent in June. (Image courtesy of PSA-Negros Occidental)
BACOLOD CITY – Education services are a top major contributor to the uptrend in inflation in Negros Occidental and this highly-urbanized city in July 2024, data of the Philippine Statistics Authority (PSA) here on Monday showed.
The previous month’s inflation rate for all income households in the province slightly expanded to 4.8 percent from 4.5 percent in June, while Bacolod City has 6.2 percent from 6.1 percent in June.
“The education commodity group showed an increase that is because classes are about to open,” PSA-Negros Occidental supervising statistical specialist Diesah Biaoco said in a press briefing.
She noted that July is the season of enrolment for elementary, high school, and college levels, and at this time, the schools update their tuition and miscellaneous fees.
“Compared to last year, the school fees are higher this year,” she added.
In Negros Occidental, the inflation rate in education services hit 16.4 percent in July this year, from only 6.0 percent during the same month in 2023.
“This is a 35.1 percent share to the uptrend in inflation,” Biaoco said.
Last month, the inflation rate of tertiary education was 12.3 percent; secondary education, 24.8 percent; and early childhood and primary education, 9.9 percent, compared with -1.6 percent, 18.9 percent, and 7.4 percent, respectively, in July 2023.
The second and third highest contributors to higher inflation in Negros Occidental are food and non-alcoholic beverages as well as transport, with a share of 33.9 percent and 14.4 percent, respectively.
In Bacolod City, education services were the second major contributor to the uptrend in inflation at 24.9 percent, wherein the inflation rate for July this year is 19.8 percent compared to only 17.2 percent for the same month last year.
The inflation rate of tertiary education was 28 percent; secondary education, 11.6 percent; and early childhood and primary education, 13.8 percent as against 27.3 percent, 8.7 percent, and 7.7 percent, respectively, in July last year.
The number one major contributor to inflation in this city last month was restaurants and accommodation services, with a share of 58.7 percent, and transport, 13.4 percent, in the third spot. (PNA)
