Ben Madilynn
CENTRAL Visayas’ inflation rate dropped to 3.4 percent in August, down from 4.5 percent in July 2024.
The decline was mainly driven by lower prices for food, non-alcoholic beverages, and transportation, according to Central Visayas Supervising Statistical Specialist Felixberto Sato Jr. in a press conference on Wednesday, September 11, 2024.
Inflation reflects a decrease in the purchasing power of the peso, measured by the change in the Consumer Price Index over a specific period, as defined by the Philippine Statistics Authority.
The August slowdown offers some relief from July’s 4.5 percent inflation rate. (CDF)
