Inflation in Western Visayas slightly increased to 3.4 percent in December 2024 from 3.2 percent in November, according to the Philippine Statistics Authority (PSA).

The region’s annual average inflation rate for 2024 stood at 3.7 percent, higher than the national average of 2.9 percent.

PSA statistical specialist Cherry Ann Gallego attributed the rise to faster price increases in housing, water, electricity, gas, and other fuels (4.8 percent); transportation (1.8 percent); and furnishings, household equipment, and routine maintenance (4.1percent).

Other significant contributors were alcoholic beverages and tobacco, information, and communication and recreation, sport, and culture.

Food and non-alcoholic beverages accounted for 35 percent of the inflation rate, followed by housing, water, electricity, gas, and other fuels at 26.5 percent, and restaurants and accommodation services at 10.2 percent.

Among the provinces, Iloilo registered the highest inflation rate at 4.2 percent, despite a slight deceleration from 4.4 percent in November.

Guimaras recorded the lowest at 2.8 percent, up from 2.5 percent.

Iloilo City, however, experienced the steepest increase, with inflation climbing to 5.4 percent from 3.4 percent.

Gallego advised consumers to strategize spending and exercise discipline, particularly in electricity usage, to cope with rising inflation. (PNA)