4 weeks ago
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CEBU CITY — The inflation rate in Central Visayas slowed to two percent in January 2025, down from 2.9 percent in December 2024, according to the Philippine Statistics Authority-Central Visayas (PSA-7).
PSA-7 statistical specialist Peter Enfestan said the decline was mainly due to slower price increases in housing, water, electricity, gas, and other fuels, which rose by only 2 percent in January, compared to 3.9 percent the previous month.
Transport costs also registered a slower annual increase of 3 percent, down from 5.6 percent in December.
Meanwhile, food and nonalcoholic beverages remained the biggest contributors to inflation, making up 43.9 percent of the total rate.
Housing, utilities, and fuels followed with a 24.3 percent share, while transport contributed 11.9 percent.
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Several food groups recorded year-on-year price declines, including rice, which fell by 2.9 percent from a 0.7 percent increase in December.
Prices of milk, other dairy products, and eggs dropped by one percent after rising by 1.5 percent in the previous month, while oils and fats declined by 0.3 percent.
On Jan. 20, the Department of Agriculture (DA) enforced a maximum suggested retail price (MSRP) of P58 per kilo for imported rice.
From Jan. 20 to Jan. 24, price monitoring by the DA showed that while some public markets, including those in Siquijor, adhered to the rice price cap, others exceeded it by P1 to P7 per kilo.
In Cebu, imported rice was sold for as high as P59 per kilo at Carbon Public Market and P60 per kilo at Tabunok Public Market.
In Bohol, Dao Public Market recorded a peak price of P59 per kilo, while Dumaguete City saw prices reaching P65 per kilo. The highest price in Larena Public Market stood at P62.50 per kilo.
Rice prices at Mandaue City Public Market dropped by P1 to P5 per kilo, depending on the brand. Corn rice experienced a more significant decrease of up to P15 per kilo.
Vendors attributed the price cuts to a decline in supplier rates, which started last week.
