PRICES of essential goods in Central Visayas eased in January 2025, with the region’s inflation rate dropping to 2.5% from 2.9% in December 2024, according to the Philippine Statistics Authority-Central Visayas (PSA-7).

PSA-7 statistical specialist Peter Enfestan attributed the decline to slower price increases in housing, water, electricity, gas, and other fuels, which grew at 2.6% in January compared to 3.9% the previous month.

Transport costs also saw a slower annual increment, rising by 3.2% in January from 5.6% in December.

Food and non-alcoholic beverages remained the top contributors to inflation, accounting for 43.9% percent of the total rate.

Housing, utilities, and fuels followed with a 24.3% share, while transport contributed 11.9%.

Several food groups recorded year-on-year price declines, including rice, which fell by 2.9% from a 0.7% increase in December.

Prices of milk, other dairy products, and eggs dropped by 1% after rising by 1.5% in the previous month, while oils and fats declined by 0.3%.

On January 20, the Department of Agriculture enforced a maximum suggested retail price (MSRP) of P58 per kilo for imported rice.

While several public markets in Central Visayas, including those in Siquijor, followed the price cap, others exceeded it by P1 to P7, based on DA 7’s price monitoring from January 20 to 24.

In Cebu, imported rice prices reached P59 per kilo at Carbon Public Market and P60 per kilo at Tabunok Public Market.

In Bohol, Dao Public Market recorded a high of P59 per kilo, while prices in Dumaguete City peaked at P65 per kilo.

The highest price in the Larena Public Market stood at P62.50 per kilo.

Meanwhile, rice prices at Mandaue City Public Market dropped by P1 to P5 per kilo, depending on the brand, with corn rice seeing a more significant reduction of up to P15.

Vendors said the price cuts started last week as suppliers also lowered their rates.(MyTVCebu)

• Tags
• #Essential Goods
• #Central Visayas
• #Philippine Statistics Authority 7
• #Prices
• #Commodities