Prices climbed faster in Central Visayas in February, making it the region with the highest inflation rate in the country, driven largely by increases in food, utilities, and household services.
The Philippine Statistics Authority (PSA) reported that inflation in Central Visayas rose to 6 percent in February from 5.6 percent in January.
The region recorded the highest rate nationwide, with Caraga posting the next highest at 3.6 percent.
Engr. Leopoldo P. Alfanta Jr., chief statistical specialist of PSA Central Visayas, said during the data dissemination on Monday that the faster rise in food and non-alcoholic beverages mainly pushed up inflation.
Food inflation increased to 9.3 percent in February from 8.2 percent in January, accounting for nearly half of the overall regional rate.
Vegetables, tubers, plantains, cooking bananas, and pulses, including onions, posted the steepest increase at 53.3 percent.
Fish and other seafood rose 17.2 percent, while cereals, including rice, increased by 1.4 percent.
Fruits and nuts, such as bananas, contributed 0.33 percentage points to the overall inflation rate.
Housing, water, electricity, gas, and other fuels recorded 4.1 percent inflation, higher than 3.1 percent in January.
Electricity prices rose 9 percent, water supply increased by 18.9 percent, and rentals for residential units went up 2.5 percent.
Furnishings, household equipment, and routine maintenance posted faster annual increases at 5.6 percent from 2.8 percent in January, driven largely by higher prices for domestic and household services, which climbed 12.8 percent.
Restaurants and accommodation services also registered 9.7 percent inflation due to higher prices at restaurants, cafes, and similar establishments.
Among the 13 major commodity groups tracked by the PSA, seven recorded higher inflation in February: food and alcoholic beverages, alcoholic beverages and tobacco, clothing and footwear, housing and utilities, furnishings and household equipment, recreation and culture, and restaurants and accommodation services.
Personal care and miscellaneous goods slowed to 3.1 percent, while transport declined to negative 1.7 percent. Health, information and communication, education services, and financial services maintained their January rates.
At the provincial and city level, Cebu Province recorded 8 percent inflation from 7.3 percent in January. Mandaue City rose to 5 percent from 4.6 percent.
Cebu City posted a slower rate at 4.6 percent from 4.9 percent, while Lapu-Lapu City eased to 6.9 percent from 7.2 percent. Bohol’s inflation increased to 3 percent from 2.2 percent.
PSA officials noted that although the rate is lower than the 8.6 percent peak recorded in 2022, Central Visayas remained the region with the highest inflation in the country for February.
Photo by Rabs Paylado
