Bohol inflation eases to 6.7% in July; food, transport price hikes slow

TAGBILARAN CITY, Bohol — Bohol’s headline inflation eased to 6.7 percent in July, from seven percent in June, as price increases in food, transport and several other consumer goods slowed, according to the Philippine Statistics Authority (PSA).

The latest figure marked a modest improvement in the province’s price situation, although households continued to face pressure from elevated prices of basic commodities and services.

The PSA said the slowdown was mainly driven by food and non-alcoholic beverages and transport, which together accounted for more than 97 percent of the decline in Bohol’s overall inflation.

Article continues after this advertisement

READ: Central Visayas priciest region in PH, data say

FEATURED STORIES

NEWSINFO

NEWSINFO

NEWSINFO

Inflation for food and non-alcoholic beverages dropped to 7.9 percent in July from 8.8 percent in June.

Slower price increases were recorded for fish and other seafood, vegetables and other plant products, and meat.

Transport inflation also eased, declining to 17 percent from 19.9 percent in the previous month.

The PSA said passenger transport by sea and inland waterways posted a slower inflation rate of 110.7 percent in July from 129.3 percent in June. Inflation for fuels and lubricants for personal transport equipment and air passenger transport also slowed.

Article continues after this advertisement

Other sectors likewise registered slower price increases. Recreation, sport and culture eased to 3.8 percent from 4.5 percent, while clothing and footwear declined slightly to 5 percent from 5.2 percent. 

Despite the overall slowdown, several essential expenses continued to exert upward pressure on inflation.

Article continues after this advertisement

Rice prices increased by 14.9 percent in July from 14 percent in June, making rice the single largest contributor among individual commodities, accounting for 1.55 percentage points of Bohol’s inflation.

Transport contributed 1.96 percentage points, while gousing, water, electricity, gas and other fuels contributed 0.58 percentage points.

Electricity prices also posted a sharp turnaround, with inflation rising to 11.3 percent in July from -5 percent in June.

The province’s Purchasing Power of the Peso (PPP) stood at P0.75 in July. This means that P100 in 2018 had the purchasing power of only about P75 in July this year.

Your subscription could not be saved. Please try again.

Your subscription has been successful.

The July data indicate that price pressures have eased in some sectors, but the continued increase in rice, electricity and other essential expenses remains a concern for households. /das