Monday, September 7, 2020
PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region’s inflation rate in August 2020 further decelerated to 4.0 percent
from 4.2 percent in the previous month. Inflation in August a year ago was slightly lower at
The slowdown in inflation in August 2020 was attributed to the Inflation Rates of the
following Commodity/Service groups: Food and Non-Alcoholic Beverages (1.2 percent from
1.4 percent), Alcoholic Beverages and Tobacco (32.2 percent from 33.2 percent), Clothing
and Footwear (2.9 percent from 3.4 percent), Housing, Water, Electricity, Gas and Other
Fuels (1.5 percent from 2.2 percent), Furnishings, Household Equipment and Routine
Maintenance of the House (2.5 percent from 3.4 percent), Health (2.6 percent from
2.9 percent), Recreation and Culture (1.6 percent from 2.5 percent), and Education
(0.0 percent from 5.4 percent).
Transport (29.0 percent from 27.6 percent), and Restaurants and Miscellaneous
Goods and Services (4.1 percent from 3.9 percent) were the commodity groups to go up.
Communication (0.5 percent) retained its previous month’s annual growth rate.
Inflation Rate in Albay is still the highest in the region at 6.6 percent. Catanduanes
posted higher inflation rate than that of the region at 5.7 percent. Camarines Norte,
Camarines Sur, Masbate and Sorsogon posted lower than that of the region at 3.0 percent,
3.7 percent, 1.6 percent and 2.6 percent, respectively.
PRICE SITUATION: MONTH-ON-MONTH
On a month-on-month basis, general prices of consumer items went down to
-0.1 percent from 0.0 percent last month.
The movement was due to the decrease in inflation rates of these commodity groups.
Alcoholic Beverages and Tobacco (0.1 percent from 0.6 percent), Clothing and Footwear
(0.2 percent from 0.3 percent), Housing, Water, Electricity, Gas and Other Fuels
(-0.3 percent from -0.2 percent), Furnishings, Household Equipment and Routine
Maintenance of the House (0.1 percent from 0.5 percent), Health (0.1 percent from
0.7 percent), Transport (0.5 percent from 3.0 percent), Recreation and Culture (-0.3 percent
from 0.2 percent), and Restaurants and Miscellaneous Goods and Services (0.6 percent
from 1.3 percent).
On the other hand, Food and Non-Alcoholic Beverages (-0.2 percent from
-0.9 percent) is the only commodity group to go up.
Communication and Education both remained the same at zero percent.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol
remained at 0.79. Albay stood at 0.78, Camarines Norte at 0.77, Camarines Sur at 0.78,
Catanduanes at 0.80, Masbate at 0.81, and Sorsogon at 0.85.