The inflation rate in Western Visayas climbed to 4.3 percent as of May, up from April’s 4.1 percent, driven by higher costs in housing and transportation, according to the Philippine Statistics Authority.
This marked a continued rise, with the region’s average inflation rate from January to June 2024 reported at 3.2 percent.
The increase in inflation was largely attributed to a modest uptick in the housing, electricity, gas, and other fuels sector.
Among the provinces in Western Visayas, Capiz, Guimaras, and Iloilo reported higher inflation rates in May.
Guimaras topped the list with an inflation rate reaching 7 percent, the highest in the region.
Editor’s Note: This is an updated article. Originally posted with the headline “Housing, transport costs drive Western Visayas inflation rate to 4.3 percent in May 2024.”