Food inflation keeps Central Visayas at top of PH price surge

CEBU CITY, Philippines — Rising prices of food items kept Central Visayas as the country’s inflation hot spot in May, with overall inflation holding at 10.8 percent, according to latest data from the Philippine Statistics Authority (PSA).

This marks the second straight month that the region posted double-digit inflation rates.

At 10.8 percent, it is the highest inflation rate among all regions in the Philippines, PSA data showed.

Nationally, inflation eased to 6.8 percent in May from 7.2 percent in April, while food inflation slowed to 5.7 percent from 6.0 percent.

In other words. while price pressures are beginning to ease across much of the country, consumers in Central Visayas continue to face significantly higher costs, driven largely by increases in food prices.

READ: Surprise! PH inflation slowed to 6.8% in May

Food inflation

Central Visayas posted the highest food inflation rate in the country, far exceeding the national average of 5.7 percent.

The region, likewise, continued to experience some of the strongest price pressures nationwide, particularly in basic food commodities.

Vegetables, tubers, plantains, cooking bananas, and pulses recorded the steepest increase, with prices surging 54.0 percent year-on-year in May.

It was the highest inflation rate for the commodity group among all regions.

Fish and other seafood prices rose 23.7 percent, nearly three times the national average of 8.8 percent.

Corn prices climbed 41.5 percent, also the highest in the country, while fruits and nuts increased by 25.7 percent.

READ: Central Visayas inflation for April highest in PH, at 10.8%

Rice prices in the region rose 14.3 percent year-on-year.

Meanwhile, oils and fats increased by 6.8 percent, flour, bread and other bakery products went up by 4.9 percent, while meat prices rose by 3.1 percent.

Sugar, confectionery and desserts was the only food category to register a decline, falling by 4.6 percent.

The broad food and non-alcoholic beverages index in Central Visayas reached 145.3 in May, up from 126.1 a year earlier.

The PSA compiles consumer price index data through regular retail price surveys conducted nationwide. / ###

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