THE Philippine Statistics Authority (PSA) said that the inflation rate in the Western Visayas has continued to go down, registering 2 percent in January from the previous 3.2 percent in December 2023.

According to the PSA, the 2 percent rate is the lowest since November 2019.

At that time, the inflation rate registered at 1.3 percent. 

It is also lower than the 10.3 percent rate in January 2023.

Likewise, the rate even went down than the national average of 2 percent.

“The downward trend will have an effect on the purchasing power of our peso. Meaning, the value of our money will be higher,” PSA Western Visayas chief statistical specialist Nelida Amolar said.

Among the highest contributors to the lower inflation rate is the food and non-alcoholic beverages with its 4.2 percent rate last month from 7 percent in December of 2023.

Other contributors are the slow movement in prices of alcoholic beverages and tobacco; furnishings, household equipment, and routine household maintenance; health; transport; information and communication; recreation, sport, and culture; restaurants and accommodation services; and financial services.

Amolar said among the food groups, only cereals recorded increased inflation while the rest are on a downward trend.