Bacolod City, Philippines – Negros Occidental and Bacolod City have reported a significant decrease in inflation rates for November.
According to Philippines News Agency, The PSA’s latest summary inflation report indicated that Negros Occidental’s inflation rate dropped to 4.7 percent in November from 7.8 percent in October, while Bacolod City’s rate fell to 4.2 percent from 6.4 percent. The reduction in prices across various commodity groups contributed to the decline in the inflation rate in both regions. The commodities experiencing price decreases included food and non-alcoholic beverages, alcoholic beverages and tobacco, clothing and footwear, housing, water, electricity, gas and other fuels, furnishings and household maintenance, transport, recreation, sports, culture, restaurants, accommodation services, and personal care and miscellaneous goods and services. Furthermore, the food and non-alcoholic beverages inflation in Negros Occidental decreased to 8.5 percent in November, down from 9.6 percent in October, while in Bacolod City, it slowed to 7.6 percent from 9.2 percent in October and September. The Consumer Price Index (CPI), wh
ich measures changes in retail prices of commodities for a specific group of consumers in a given area and period, reflected these trends. Inflation, as the annual rate of change in the CPI, is interpreted in terms of the declining purchasing power of money.
