CV inflation eases to 4.5% in July

SunStar Publishing Inc.

CENTRAL Visayas’ inflation rate decreased to 4.5 percent in July 2024, down from 4.8 percent in June 2024, according to the Philippine Statistics Authority 7. PSA 7 Director Ariel Florendo attributed the decline to lower prices in electricity, rent, sea transport, and restaurant services. Florendo said main drivers of the decrease were slower inflation rates in major commodity groups: housing, water, electricity, gas and other fuels ; transport ; and restaurants and accommodation services .

Food and non-alcoholic beverages continue to be the main contributors to the July inflation, with an 8.6 percent increase.Florendo said the increase was driven by the faster rise in the prices of cereals and cereal products, meat and other slaughtered animals, particularly pork, whether fresh, chilled or frozen, as well as vegetables and tubers, especially fresh or chilled fruit-bearing vegetables.Other significant contributors include restaurants and accommodation services at 3.

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