Bacolod City: The December 2024 inflation rate for all income households in this highly-urbanized city eased further to 2.4 percent while Negros Occidental province’s went slightly higher to 3.7 percent, data released by the Philippine Statistics Authority (PSA) on Tuesday showed.

According to Philippines News Agency, in Bacolod, the inflation rate in November settled at 2.7 percent, from 3.2 percent in October, while Negros Occidental recorded 3 percent in November, after the 3.5 percent in October.

In a press briefing, John Campomanes, chief statistical specialist of PSA-Negros Occidental, noted that the top major contributor to last month’s inflation in Bacolod is the food and non-alcoholic beverages commodity group at only 1.2 percent, with a share of 87.7 percent to overall inflation. Food inflation in the city decelerated to 0.9 percent in December, from 2.8 percent in November.

Another significant factor is housing, water, electricity, gas, and other fuels at -0.5 percent, with a 10.7 percent share. Inflation for electricity, gas, and other fuels settled at -1.5 percent in December, from -0.4 percent in November.

On the other hand, the top major contributor to the 3.7 percent inflation in Negros Occidental is housing, water, electricity, gas, and other fuels at 4.2 percent, with a 49.3 percent share to overall inflation. In December, inflation for electricity, gas, and other fuels in the province increased to 9.6 percent, from only 4.2 percent in November.

The two other contributors in Negros Occidental are transport, at 0.3 percent, with a 25.9 percent share, and food and non-alcoholic beverages, at 2.9 percent, with a 19.3 percent share. Inflation is the annual rate of change or the year-on-year change of the consumer price index expressed in percent and interpreted in terms of the declining purchasing power of money.