TAGBILARAN CITY, Bohol (PIA)—From 4.6 percent inflation rate in November last year, headline inflation in Bohol slipped down to 1.8 percent, with a 1.1 percent decrease from the 2.9 inflation rate recorded in October 2024.
In fact, Bohol’s inflation in November is lower by 0.7 percent than the national inflation which was at 2.5 percent in November and 0.5 percent lower than Central Visayas’ which has its inflation rate at 2.3 percent, according to data compiled by the Philippine Statistics Authority (PSA).
Slower annual increment in the index of food and non-alcoholic beverages at 3.9 percent from 6.6 percent in November anchored the inflation rate down, food being heavily weighted, owns a bigger share in the consumer’s priorities.
Food and non-alcoholic beverages has 87.1 percent share in the inflation factor, itself owning 1.57 percentage points, points Provincial Statistician Jessamyne Anne Alcazaren during the monthly inflation rate data dissemination at the PSA Bohol, Galleria Luisa Mall, December 9.
On the other hand, prices of housing, water, electricity, gas and other fuels showed good track as it recorded a year-on-year decrease of -0.6 percent in November as against 0.0 percent in October.
Restaurants and accommodation services pegged a 0.3 percent inflation rate from the 1.9 percent in October, 2024, slowing down the price movement.
According to the PSA, top commodity which contributed to the November inflation were food and non-alcoholic beverages owning up 1.57 percentage points, education services at 0.23 percentage points and personal care and miscellaneous goods and services at 0.08 percentage share.
These impacted on the food inflation which slackened a bit in Bohol, the recorded 4.0 percent in November is 3 percent lower than the 7.0 percent inflation in October.
The development elated Bohol Governor Erico Aristotle Aumentado who said, if the consumer price index movement is slow, that means lower inflation, as it is the over-all increase in the prices of basic goods commodities and services in the country.
“This is a good year for Bohol, from a 2.9 percent inflation rate in October, it dropped to 1.8 percent in November, this indicates that we have our economy pointed in the right direction,” the governor said.
“The lower are the numbers in our inflation, this would be good for all out consumers,” Aumentado he stressed.
The decrease in food inflation is largely affected by the slower inflation rate of rice, fruits and nuts and milke and other dairy products as well as eggs.
From 16.1 percent in October, rice inflation eased to 11.3 percent in November. Fruits and Nuts on the other hand presented a year-on-year decline of 4.6 percent from 19.2 percent in October.
Index prices of milk, other dairy products and eggs showed slower movements at 4.9 percent from 8.9 percent as PSA noted in October, 2024.
Over this, the governor continued to call for participation of Boholanos and communities to further improve and balance the local economy.
“As always, we aspire to bring all good things to our communities, we want the economy to be favoring the Boholanos who are still struggling to get out of the traps of poverty,” the governor said. (RAHC/PIA-7/Bohol)
