CEBU CITY, Cebu (PIA) — The Philippine Statistics Authority (PSA) Cebu Provincial Statistical Office has recorded a decline in the inflation rate for the three highly urbanized cities (HUCs) here, namely: Cebu City, Mandaue City, and Lapu-Lapu City.
In a press conference on Aug. 15, PSA Cebu reported that the three HUCs saw a decrease in their July 2024 inflation rate compared to the previous month.
Cebu City’s inflation rate dropped to 5.3 percent in July 2024, down from 5.9 percent in June.
The inflation rate in Mandaue City likewise decreased to 6.2 percent in July 2024, down from 7.4 percent in June, while Lapu-Lapu City’s headline inflation rate declined to 6.1 percent in July 2024, down from 6.5 percent in last month.
According to PSA Cebu chief statistical specialist Melchor Bautista, Mandaue City continued to see steady inflation rate declines for the third month dating back to May 2024.
The city’s inflation rate saw its first decline in May, when it decreased to 7.3 percent from 7.6 percent in April of this year.
Meanwhile, for the first time this year, the inflation rate in Cebu City and Lapu-Lapu City both dropped.
Gas and other fuels, housing, water, electricity, and other utilities were the main contributors to Cebu City’s inflation decline in July 2024.
Housing, water, electricity, gas, and other fuels contributed the most to Mandaue City’s decreasing inflation trend, with a fall to 13.3 percent; while other major contributors included tobacco and alcoholic drinks at 0.9 percent, personal care, and other goods and services at 3.4 percent.
The housing, water, electricity, gas, and other fuels index, which dropped to 4.6 percent from 5.5 percent in the previous month, was the primary cause of Lapu-Lapu City’s recent decrease in inflation rate.
“Naa gyuy dakong impact ang inflation rate to the consumers in the province of Cebu. Naay gyuy different factors nga naka contribute sa inflation, and the government need gyud mo padayun sa iyang mga programs to ensure nga magpadayon ang pag decrease sa inflation nga na record diri sa mga highly urbanized cities in Cebu,” said Bautista.
(The inflation rate has a big impact on the consumers in the province of Cebu. There are different factors that contribute to inflation, and the government needs to continue implementing its programs to ensure that the recorded decrease in inflation will continue in the highly urbanized cities in Cebu). (RGC/PIA7 Cebu)
