Consumer Price Index for all Income Households in Bicol Region: December 2020

Reference Number: 

2021-001

Release Date: 

Wednesday, January 6, 2021
PRICE SITUATION: YEAR-ON-YEAR
 
The Bicol Region’s inflation rate in December 2020 accelerated to 6.6 percent from
5.5 percent in the previous month. Inflation in December a year ago was lower at
3.3 percent.
The increase in inflation in December 2020 was attributed to the Inflation Rates of
most of Commodity/Service groups: Food and Non-Alcoholic Beverages (6.6 percent from
4.3 percent), Alcoholic Beverages and Tobacco (10.5 percent from 10.1 percent), Clothing
and Footwear (3.4 percent from 2.9 percent), Furnishings, Household Equipment and
Routine Maintenance of the House (3.2 percent from 3.1 percent), Transport (39.3 percent
from 37.6 percent), and Restaurants and Miscellaneous Goods and Services (5.4 percent
from 4.4 percent).
Housing, Water, Electricity, Gas and Other Fuels (1.0 percent from 1.9 percent) and
Communication (0.1 percent from 0.3 percent) were the commodity groups that went down.
Health (2.3 percent), Recreation and Culture (1.1 percent), and Education
(0.1 percent) retained its previous month’s annual growth rates.
Inflation Rate in Catanduanes is the highest in the region at 8.2 percent, followed by
Camarines Sur at 7.9 percent, and Albay at 7.2 percent. Camarines Norte posted at
6.9 percent. Masbate and Sorsogon posted lower than that of the region at 3.6 percent and
4.5 percent, respectively.
 
 
PRICE SITUATION: MONTH-ON-MONTH
 
On a month-on-month basis, general prices of consumer items went up to
2.1 percent from 1.8 percent last month.
The movement was due to the increase in inflation rates of these commodity groups.
Food and Non-Alcoholic Beverages (3.6 percent from 3.1 percent), Clothing and Footwear
(0.5 percent from 0.2 percent), Transport (3.1 percent from 0.4 percent), Recreation and
Culture (0.1 percent from 0.0 percent), and Restaurants and Miscellaneous Goods and
Services (1.1 percent from 0.5 percent).
On the other hand, Alcoholic Beverages and Tobacco (1.1 percent from 2.6 percent),
Housing, Water, Electricity, Gas and Other Fuels (0.2 percent from 0.9 percent),
Furnishings, Household Equipment and Routine Maintenance of the House (0.1 percent
from 0.4 percent), and Health (0.2 percent from 0.4 percent) were the commodity groups
that went down.
Communication and Education remained the same at zero percent.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol
further declined to 0.76. Albay and Camarines Sur both stood at 0.74, Camarines Norte at
0.73, Catanduanes at 0.76, Masbate at 0.78, and Sorsogon at 0.83.
 
 
 
 
 
 
 
 

Tags: 

Attachments: