Inflation rate down in Bacolod City, NegOcc

Posted by watchmen
August 8, 2023
Posted in TOP STORIES

By Dominique Gabriel G. Bañaga

The inflation rate in Bacolod City and Negros Occidental went down in July, according to the Philippine Statistics Authority (PSA).

In a radio interview, PSA-Negros Occidental chief, statistical specialist Luis Gonzales said Bacolod’s inflation rate for July went down to 6.6 percent, from 6.7 percent in June.

Inflation also dropped to 7.6 percent in July, from 8.1 percent for June in Negros Occidental. 

Gonzales explained the lower inflation rate in Bacolod was due to a decrease in the prices of clothing, fuel, furnishings, and household equipment, as well as lower housing and utility bill rates. 

For Negros Occidental, the lower inflation was also due to the lower price of food, non-alcoholic beverages, utilities, fuel, and transportation.

Last week, the PSA central office reported that the country’s inflation rate further eased for six consecutive months.

The PSA reported that the consumer price index rose to 4.7 percent in July, slower than the 5.4 percent inflation rate reported back in June.

The rates are also within the 4.1 to 4.9 percent forecast by the Bangko Sentral ng Pilipinas./DGB, WDJ

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