Aklan’s 8.1% inflation in Sept among highest in WV

PRICES OF goods and services continue to rise in Aklan such that the inflation of the province up by a faster rate of 8.1 percent in September from 2.0 percent a year ago according to Philippine Statistics Authority-Aklan.

Increment of prices was among the fastest in Western Visayas following Negros Occidental with 9.1 percent.

It exceeded the national average at 6.7 percent, and the regional rate at 7.6 percent.

The uptrend was attributed to the 24.1 percent increase in Alcoholic Beverages and Tobacco, 11.0 percent rise on Transport, and 10.9 percent spike in Food and Non-Alcoholic Beverages.

This is further fueled by the acceleration of indices in Recreation and Culture (8.3%), Restaurants and Miscellaneous Goods and Services (6.8%), Furnishings, Household Equipment and Housing Maintenance (5.4%), Clothing and Footwear (5.0%), Health (3.4%), Housing, Water, Electricity, Gas and Other Fuels (2.6%), and Communication (1.0).

Only Education slowed down with 21.1 percent.

On a monthly basis, consumer prices slightly notched up by 0.8 percent from 1.8 percent during the previous month.

Most commodities retained its previous month’s rates except for Food and Non-Alcoholic Beverages with 1.5% increase, Transport with 1.0%, HWEG and Other Fuels with 0.4%, and Alcoholic Beverages and Tobacco with 0.3%.

Food index was pushed by the uptick in Corn (3.7%), Fish (3.4%), Vegetables (2.6%), Rice (1.7%), Sugar and related products (1.6%), Bread and cereals (1.4%), Fruit (1.0%), Non-alcoholic beverages (0.5%), Milk, cheese, and eggs (0.4%), Meat (0.4%), Food Products NEC (0.4%), Oils and Fats (0.3%), and Flour and Other Bakery Products (0.2%).

As a result of inflation, Aklan’s purchasing power of peso was pegged to P0.84 in September, which means that the same basket of goods and services worth P84.00 in 2012 can be bought at P100.00 September 2018.##

-PSA Aklan