ILOILO CITY (PIA) — Food inflation in Western Visayas decreased to 7.3 percent in May 2024 from 7.5 percent in April 2024 and dropped from the 8.8 percent recorded in May 2023.
The Philippine Statistics Authority (PSA) 6 reported the data during the press conference on June 14 at the PSA Learning and Development center, led by Statistical Specialist II Miguel S. Gallego.
The deceleration of food inflation in May 2024 was due to slower annual growth in the index of meat and other parts of slaughtered land animals, with a 11.2 percent inflation rate in May 2024 from 12.5 percent in April 2024.
This was followed by the cereals and cereal products food group, with a 15.7 percent inflation rate compared to 16.0 percent in April. The fruits and nuts food group also contributed to the downtrend, with a 3.6 percent inflation rate in May from 6.1 percent in April.
Fish and other seafood saw lower inflation rates, down to 0.2 percent from 0.4 percent in the previous month.
Moreover, milk, other dairy products, and eggs have 2.1 percent from 3.0 percent, and oils and fats have -1.6 percent from -1.2 percent.
PSA 6 also reported that the headline inflation in the region was at 4.3 percent in May 2024, up from 4.1 percent in the previous month.
Food had a share of 66.7 percent, or 2.87 percentage points, in the Western Visayas headline inflation rate. (AAL/ED/PIA 6)
