The Inflation Rate (IR) in Eastern Visayas eased to 4.0 percent in October 2023 from 4.9 percent in September 2023. This makes the region’s average IR from January to October 2023 at 4.5 percent.
The regional IR was lower than the 4.9 percent national IR in October 2023. In October 2022, the regional IR was higher at 7.4 percent.
The downtrend in the regional IR in October 2023 was primarily brought about by the faster negative inflation in the housing, water, electricity, gas, and other fuels commodity group at -5.5 percent during the month from -3.4 percent in September 2023.
The heavily weighted food and non-alcoholic beverages commodity group, which registered an IR of 8.5 percent in October 2023 from 9.3 percent IR in the previous month, also contributed to the downtrend.
In addition, decreased IRs were also recorded in the following commodity groups during the month: Transport, 0.5 percent from 1.4 percent;alcoholic beverages and tobacco, 8.1 percent from 8.5 percent;clothing and footwear, 1.1 percent from 1.3 percent; Restaurants and accommodation services, 5.0 percent from 5.1 percent; personal care, and miscellaneous goods and services, 3.6 percent from3.7 percent; and health, 2.8 percent from 2.9 percent
In contrast, the following commodity groups registered higher IRs during the month:
a. Furnishings, household equipment, and routine household maintenance, 5.7 percent from 5.5 percent; and b. Recreation, sport, and culture, 2.2 percent from 2.1 percent
Relative to their IRs in September 2023, all provinces recorded lower IRs in October 2023, except Eastern Samar, which registered higher IR.
Among the provinces, Eastern Samar still posted the highest IR at 7.5 percent in October 2023. Samar’s IR came next at 4.6 percent, followed by Leyte at 4.1 percent; and Northern Samar at 2.9 percent. The lowest IR was noted in Biliran and Southern Leyte both at 2.2 percent.
Meanwhile, IR for Tacloban City, the lone Highly Urbanized City (HUC) in the region, was recorded at 3.0 percent in October 2023, lower than its 3.5 percent IR last month (Figure 3 and Table 5).(PR)