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

Reference Number: 

2020-006

Release Date: 

Friday, March 6, 2020
PRICE SITUATION: YEAR-ON-YEAR
 
The Bicol Region’s inflation rate in February 2020 slowed down to 3.6 percent.
Compared to the 5.1 percent inflation rate in the same period last year, the February 2020
rate was lower by 1.5 percentage points.
The decrease this month compared to the 3.9 percent inflation rate last month was
attributed to the Inflation Rates of the following Commodity/Service groups: Food and
Non-Alcoholic Beverages (1.3 percent from 1.9 percent), Alcoholic Beverages and Tobacco
(33.6 percent from 37.8 percent), Clothing and Footwear (4.1 percent from 4.5 percent),
Transport (2.7 percent from 3.9 percent), Communication (0.7 percent from 0.8 percent),
and Restaurants and Miscellaneous Goods and Services (3.2 percent from 3.7 percent).
Housing, Water, Electricity, Gas and Other Fuels (6.5 percent from 5.9 percent),
Furnishings, Household Equipment and Routine Maintenance of the House (3.4 percent
from 3.1 percent), Health (3.1 percent from 2.6 percent), and Recreation and Culture
(2.4 percent from 2.3 percent) were the commodity groups to go up.
Education remained the same at 8.5 percent.
Inflation Rate in Albay is still the highest in the region at 5.8 percent. Camarines
Norte, Catanduanes, and Sorsogon posted higher inflation rates than that of the region, at
4.6 percent, 4.0 percent, and 4.5 percent, respectively. The rest of the provinces posted
lower than that of the region. Camarines Sur at 2.4 percent and Masbate at 0.7 percent.
 
 
PRICE SITUATION: MONTH-ON-MONTH
 
On a month-on-month basis, the general prices of consumer items went down at
-0.1 percent.
The movement was due to the decrease in inflation rates of these commodity groups.
Food and Non-Alcoholic Beverages (-0.5 percent from 1.5 percent), Alcoholic Beverages
and Tobacco (1.0 percent from 1.2 percent), Clothing and Footwear (0.1 percent from
0.4 percent), Housing, Water, Electricity, Gas and Other Fuels (0.7 percent from
1.2 percent), Health (-0.1 percent from 0.6 percent), and Communication (0.0 percent from
0.1 percent).
On the other hand, inflation rates went up on the following Commodity/Service
Groups: Furnishings, Household Equipment and Routine Maintenance of the House
(0.5 percent from 0.2 percent), Transport (-0.5 percent from -1.4 percent) and Recreation
and Culture (0.2 percent from 0.1 percent).
Education and Restaurants and Miscellaneous Goods and Services remained the
same this month at 0.0 percent and 0.2 percent, respectively.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol
remained at 0.80. Albay stood at 0.79, Camarines Norte at 0.77, Camarines Sur at 0.79,
Catanduanes at 0.81, Masbate at 0.81, and Sorsogon at 0.85.
 
 
 
 

Tags: 

Attachments: