Inflation rate in Eastern Visayas increased by 7.5%

Inflation rate in Eastern Visayas increased by 7.5%

TACLOBAN CITY – Eastern Visayas' inflation rate increased by 7.5 % in July, compared to the national inflation rate of 6.4%, according to the Philippine Statistics Authority (PSA).

"Eastern Visayas' inflation rate (IR) continued to rise, reaching 7.5 percent in July 2022, up from 6.8 percent in June 2022. In July 2022, the regional IR was higher than the national IR of 6.4 percent, the highest recorded IR since November 2018. The region's average IR from January to July 2022 was 6.0 percent with this month's IR. The regional IR was 4.4 percent in July 2021," PSA said in a report.

In the same month, Region 8 ranked fourth in the country with the highest IR. Northern Samar province has the highest IR in the region, with 10.1%. Meanwhile, in Tacloban City, the IR has dropped to 5.2% from 5.8% in June 2022.

The price increase in the Food and Non-alcoholic Beverage Group is one of the primary reasons for the region's inflation rate rise. Sugar and other sweet products saw the greatest price decrease, down 11.6% from 7.4%in June. Meat and rice prices increased, while fruits and vegetable prices decreased.


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