Tuesday, May 14, 2019
PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region’s inflation rate in April 2019 slowed down further to 3.4 percent. Compared to the 5.5 percent inflation rate in the same period last year, the April 2019 rate was higher by 2.1 percentage points.
The movement was attributed to the Inflation Rates of the following Commodity/Service groups: Clothing and Footwear (from 5.7 percent to 5.8 percent), Health (from 6.0 percent to 7.3 percent), Transport (from 3.2 percent to 4.6 percent) and Restaurants and Miscellaneous Goods and Services (from 5.9 percent to 6.3 percent).
On the other hand, the heavily weighted Food and Non-Alcoholic Beverages went down (from 3.0 percent to 2.0 percent) along with Alcoholic Beverages and Tobacco (from 19.3 percent to 19.1 percent) and Housing, Water, Electricity, Gas and Other Fuels (from 6.5 percent to 5.8 percent).
Furnishings, Household Equipment and Routine Maintenance of the House remained at 5.8 percent and so with Recreation and Culture at 3.0 percent. Education and Communication also were pegged at -22.0 percent and 0.5 percent respectively.
Inflation Rate in Camarines Sur still highest in the Region at 5.2 percent while Catanduanes is lowest at 1.7 percent. Sorsogon posted higher Inflation Rate than that of the Region at 3.6 percent. Albay, Masbate and Camarines Norte also slowed down to 1.9 percent, 2.4 percent and 3.1 percent, respectively.
PRICE SITUATION: MONTH-ON-MONTH
On a Month-on-month bases, the general prices of consumer items went up at 0.2 percent.
The increase was noted on the prices of Food and Non-Alcoholic Beverages (from -1.4 percent to -0.2 percent), Alcoholic Beverages and Tobacco (from 0.6 percent to 1.7 percent), Health (from 0.5 percent to 1.9 percent), Transport (from 1.5 percent to 2.0 percent) and Restaurants and Miscellaneous Goods and Services (from 0.3 percent to 0.5 percent).
However, prices went down on the following Commodity/Service Groups; Clothing and Footwear (from 0.5 percent to 0.3 percent), Housing, Water, Electricity, Gas and Other Fuels (from 1.7 percent to 0.1 percent), Communication (from 0.2 percent to 0.0 percent) and Recreation and Culture (from 0.3 percent to 0.1 percent)
Education remained at 0.0 percent with Furnishings, Households Equipment and Routine Maintenance of the House also at 0.2 percent.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol still at 0.83 and across provinces Sorsogon at 0.88, Catanduanes at 0.85, Albay at 0.84, Masbate at 0.82 while Camarines Sur and Camarines Norte at 0.81.