TACLOBAN: Eastern Visayas recorded a 4.3 percent inflation rate (IR) in December 2023, after two consecutive months of deceleration, the Philippine Statistics Authority (PSA) reported on Friday. Last month's rate is higher than the 3.5 percent recorded in November and the four percent recorded in October. The uptrend in the regional rate in December 2023 was primarily due to the higher prices for food and non-alcoholic beverages. The inflation rate for the food index increased to 8.7 percent in December 2023, up from eight percent the previous month. 'The increase of the IR for food during the period was primarily influenced by the faster IR for rice, which was at 20.5 percent during the month from 15 percent in November 2023. This was followed by fruits and nuts. Higher IRs were also noted in milk, other dairy products, eggs, and corn,' PSA Eastern Visayas regional director Wilma Perante said in a statement. Also contributing to the uptrend was the higher adjustment of prices for furnishings, household equipment, routine household maintenance, and health services. Four of the region's six provinces recorded higher inflation rates in the last month of 2023. Eastern Samar's IR is lower at 5.2 percent during the same period from 6.4 on month-on-month. Southern Leyte maintained its rate at 2.4 percent in the past two months. Among the provinces, Samar posted the highest rate at 6.6 percent, followed by Leyte at 4., Biliran at 4, and Northern Samar at 3.3 percent. Tacloban, the lone highly urbanized city in the region, recorded an inflation rate of 3.6 percent in December, higher than its 2.5 percent IR a month earlier. The inflation rate is the annual rate of change or the year-on-year changes in the consumer price index. It indicates how fast or slow the price changes over two time periods (year-on-year). Contrary to common knowledge, Perante said low inflation does not necessarily mean that prices of commodities are decreasing; instead, it means that prices continue to increase, but at a slower rate. S ource: Philippines News Agency