PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region's inflation rate in April 2022 increased to 4.2% from 3.8% in the previous month. Inflation in April a year ago was higher at 7 .5%. The increase in inflation in April 2022 was attributed to the inflation rates of the following commodity/service groups: Food and Non-Alcoholic Beverages (3.5% from 3.0%), Clothing and Footwear (4.5% from 4.0%), Transport (6.9% from 5.3%), and Recreation, Sport and Culture (1.6% from 1.5%). On the other hand, inflation of the following commodity groups slowed down: Alcoholic Beverages and Tobacco (4.7% from 5.1%), Housing, Water, Electricity, Gas and Other Fuels (6.2% from 6.3%), Furnishings, Household Equipment and Routine Household Maintenance (3.8% from 3.9%), Health (2.5% from 2.9%), and Restaurants and Accommodation Services (3.0% from 3.5%), Financial Services (0.0% from 49.5%), and Personal Care, and Miscellaneous Goods and Services (2.4% from 2.5%). Information and Communication and Education Services maintained its previous month's annual growth rates at 0.5% and 0.0%, respectively. Inflation rate in Sorsogon is the highest among provinces in the region at 6. 7%, followed by Masbate at 4.4%. The rest of the provinces posted lower than that of the region. Albay at 3.7%, Camarines Norte at 2.2%, Camarines Sur at 4.1%, and Catanduanes at 2.8%.
PRICE SITUATION: MONTH-ON-MONTH
On a month-on-month basis, the inflation rate decelerated to 0.2% from 0.8% last month. The movement was due to the decrease in inflation rates of the heavily-weighted Food and Non-Alcoholic Beverages (-0.2% from 0.4%), Housing, Water, Electricity, Gas and Other Fuels (0.0% from 1.8%), Furnishings, Household Equipment and Routine Household Maintenance (0.3% from 0.6%), Health (0.0% from 0.1 %), Transport (1.5% from 2.1 %), and Personal Care and Miscellaneous Goods and Services (0.3% from 0.4%). Alcoholic Beverages and Tobacco (0.9%), Clothing and Footwear (0.3%), Information and Communication (0.0%), Recreation, Sport and Culture (0.2%), Education Services (0.0%), Restaurants and Accommodation Services (0.1 %) and Financial Services (0.0%) maintained its previous month's rates. With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol Region remained at 0.85. Albay at 0.84, Camarines Norte at 0.87, Camarines Sur and Catanduanes at 0.85, Masbate al 0.86, and Sorsogon at 0.85.