Inflation in Eastern Visayas slowed from 0.6 percent in April to 0.4 percent in May, marking the lowest rate since 2019. The Philippine Statistics Authority (PSA) reported that the food index experienced an annual price decrease of 0.9 percent in May, influenced by a significant drop in rice prices, which fell by 14.3 percent compared to an 11.9 percent decline in April.
PSA Eastern Visayas Director Wilma Perante noted that the slower inflation rate of vegetables, tubers, plantains, cooking bananas, and pulses at 8.4 percent in May, down from 9.5 percent in April, also contributed to the decline in the food index.
When asked about the impact of the San Juanico Bridge load limit on prices, Perante stated that it was not reflected in the May report. “The data collection from the provincial capital and sample municipalities was done in the first week of May. We have not seen the effect of the crisis since the restriction took effect on May 15. If there are price adjustments due to the San Juanico Bridge crisis, it will reflect in our June report,” she explained.
Two provinces in the region recorded lower inflation rates in May: Leyte at 1.1 percent, down from 1.5 percent, and Southern Leyte with a negative inflation rate of 0.6 percent. Tacloban City saw a decrease in inflation to 0.7 percent from 0.9 percent.
Conversely, Biliran reported an increase in inflation to 1.2 percent from 1.1 percent, while Eastern Samar rose to 0.6 percent from 0.5 percent. Northern Samar increased to 0.5 percent from 0.1 percent, and Samar recorded a slight improvement to -0.8 percent from -0.9 percent.
Perante clarified that low inflation does not necessarily indicate a decrease in commodity prices. Instead, it signifies that prices are still rising but at a slower rate. The PSA collects data for the consumer price index twice a month, with petroleum products monitored weekly.