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Saturday, July 13, 2024

Consumers don’t feel low inflation rate

Southern Leyte’s inflation rate lowered from 5.8 percent in February, 2023 to 3.7 percent in March, 2023, according to the Philippine Statistic Authority (PSA) Summary Inflation Report Consumer Price Index.
The decrease was brought about by the high annual decrease in housing, water, electricity, gas, and other fuels at -1.8 percent; transportation at 11.4 percent and furnishing; household equipment, and routine household maintenance at 3.1 percent. Health, personal care, and miscellaneous goods and services also contributed to the downtrend.
Several persons were interviewed on what their comments were on the inflation downtrend in Southern Leyte. A college student from Panan-awan who traveled back and forth expressed, “Niubos bitaw ang gasoline unta muubos sad ang pamasahe.” (Gasoline has gone down, hopefully the fare would reduce also).
A single mother of two and a sari-sari store owner commented, “Kung ang sari-sari store imong saligan, dili ra paigo sa pang adlaw-adlaw nga pangkunsumo, kinahanglan mangita tag laing pagkakitaan, ilabi na karon nga daghan natang panginahanglanon.” (If you trust the sari-sari store, it’s not enough for daily consumption, you have to find another source of income, especially now that we have many needs.)
Meanwhile, inflation rate in March 2022 at 8.5 percent was higher compared to this year’s record.
The Food and Non-Alcoholic Beverages index increased to 5.5 percent and Alcoholic Beverages and Tobacco index increased to 9.1 percent.
The Purchasing Power of the Peso (PPP) in Southern Leyte has weakened from 0.87 in March 2022 to 0.84 in March 2023. It has also remained the same at P0.84 from its value in February 2023. (PSA, RCabodbod)

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