Tacloban – Data coming from the Philippine Statistics Authority’s (PSA) Inflation Watch, shows Southern Leyte province having the highest increase in the prices of goods and services compared to its neighboring provinces in Eastern Visayas.
The PSA Inflation Watch data for the month of May shows Southern Leyte with a 8.7% inflation rate compared with Biliran’s 5.0%, Leyte’s 6.7% Northern Samar’s 7.1, Eastern Samar’s 3.8% and Samar’s 5.9%.
Inflation is the general increase of prices/cost of goods and services in a province and the weakened purchasing power of money, generally caused by a high demand and low supply of local goods and services. Inflation may also be caused by a low production/output of local agricultural, commercial and industrial products compared to the consumption of local consumers who would then rely from the more abundant or cheaper sources of goods and services from outside the province.
So. Leyte posts highest price increase rate in EV
