Wednesday, May 6, 2020
PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region’s inflation rate in April 2020 decelerated further to 3.1 percent from 3.2 percent in the previous month. Inflation in April a year ago was slightly higher at 3.3 percent.
The slowdown in inflation in April 2020 was attributed to the Inflation Rates of almost all the Commodity/Service groups: Alcoholic Beverages and Tobacco (31.3 percent from 33.5 percent), Clothing and Footwear (3.6 percent from 3.8 percent), Housing, Water, Electricity, Gas and Other Fuels (3.4 percent from 4.1 percent), Furnishings, Household Equipment and Routine Maintenance of the House (3.2 percent from 3.3 percent), Transport (-5.3 percent from -0.6 percent), Recreation and Culture (2.3 percent from 2.4 percent), and Restaurants and Miscellaneous Goods and Services (2.7 percent from 3.1 percent).
Food and Non-Alcoholic Beverages (2.5 percent from 1.8 percent) was the only commodity group to go up.
Health (2.6 percent), Communication (0.5 percent), and Education (8.5 percent) retained their previous month’s annual growth rates.
Inflation Rate in Albay is still the highest in the region at 5.4 percent. Camarines Norte, Catanduanes, and Sorsogon posted higher inflation rates than that of the region, at 4.5 percent, 4.2 percent, and 3.2 percent, respectively. The rest of the provinces posted lower than that of the region. Camarines Sur at 1.8 percent and Masbate at 0.5 percent.
PRICE SITUATION: MONTH-ON-MONTH
On a month-on-month basis, general prices of consumer items went up at 0.0 percent from -0.6 percent last month.
The movement was due to the increase in inflation rates of these commodity groups. Food and Non-Alcoholic Beverages (0.5 percent from -0.9 percent), and Health (0.1 percent from 0.0 percent).
On the other hand, inflation rates went down on the following Commodity/Service Groups: Housing, Water, Electricity, Gas and Other Fuels (-0.6 percent from -0.5 percent), Furnishings, Household Equipment and Routine Maintenance of the House (0.1 percent from 0.2 percent), Transport (-2.8 percent from -1.7 percent), and Recreation and Culture (0.0 percent from 0.3 percent).
Alcoholic Beverages and Tobacco (0.5 percent), Clothing and Footwear (0.2 percent), Communication (0.0 percent), Education (0.0 percent) and Restaurants and Miscellaneous Goods and Services (0.2 percent) remained the same.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol remained at 0.81. Albay stood at 0.79, Camarines Norte at 0.77, Camarines Sur at 0.80, Catanduanes and Masbate at 0.82, and Sorsogon at 0.85.