Inflation in the Western Visayas region edged up to 3.4% in December 2024, a slight increase from the 3.2% recorded in November, as reported by the Philippine Statistics Authority (PSA). The annual average inflation rate for the region in 2024 was 3.7%, surpassing the national average of 2.9%. Cherry Ann Gallego, a PSA Statistical Specialist, highlighted that the uptick was driven by accelerated price hikes in sectors such as housing, water, electricity, gas, and other fuels, which saw a 4.8% increase, transportation at 1.8%, and furnishings, household equipment, and routine maintenance at 4.1%. Additional factors contributing to the rise included alcoholic beverages and tobacco, as well as information, communication, recreation, sport, and culture. Food and non-alcoholic beverages made up 35% of the inflation rate, with housing, water, electricity, gas, and other fuels contributing 26.5%, and restaurants and accommodation services at 10.2%. Among the provinces, Iloilo had the highest inflation rate at 4.2%, a slight decrease from 4.4% in November. Guimaras had the lowest rate at 2.8%, up from 2.5%. However, Iloilo City experienced the most significant increase, with inflation jumping to 5.4% from 3.4%. Gallego recommended that consumers adopt strategic spending habits and be mindful of their electricity consumption to manage the impact of rising inflation.
