Tuesday, March 9, 2021
PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region's inflation rate in February 2021 further accelerated to 7.5 percent
from 7.4 percent in the previous month. Inflation in February a year ago was lower at
The increase in inflation in February 2021 was attributed to the Inflation Rates of
most of Commodity/Service groups: Food and Non-Alcoholic Beverages (7.5 percent from
7.4 percent), Alcoholic Beverages and Tobacco (12.6 percent from 12.3 percent), Clothing
and Footwear (4.5 percent from 4.3 percent), Transport (43.9 percent from 42.3 percent),
Recreation and Culture (2.0 percent from 1.7 percent), and Restaurants and Miscellaneous
Goods and Services (6.8 percent from 6.1 percent).
Housing, Water, Electricity, Gas and Other Fuels (0.8 percent from 1.5 percent),
Furnishings and Household Equipment and Routine Maintenance of the House (3.5 percent
from 3.7 percent) were the commodity groups that went down.
Health, Communication, and Education retained its previous month's annual growth
rates at 2.3 percent, 0.0 percent, and 0.1 percent, respectively.
Inflation Rate in Camarines Sur is the highest in the region at 9.0 percent, followed
by Catanduanes at 8.4 percent, Albay at 8.1 percent, and Masbate at 7.7 percent.
Camarines Norte and Sorsogon posted lower than that of the region at 6.8 percent and
3.4 percent, respectively.
PRICE SITUATION: MONTH-ON-MONTH
On a month-on-month basis, general prices of consumer items went down to
0.0 percent from 1.7 percent last month.
The movement was due to the decrease in inflation rates of almost all the commodity
groups. Food and Non-Alcoholic Beverages (-0.4 percent from 2.2 percent), Alcoholic
Beverages and Tobacco (1.2 percent from 2.8 percent), Clothing and Footwear (0.2 percent
from 1.3 percent), Housing, Water, Electricity, Gas and Other Fuels (0.0 percent from
1.7 percent), Furnishings, Household Equipment and Routine Maintenance of the House
(0.2 percent from 0.7 percent), Health (-0.1 percent from 0.6 percent), Transport (0.6 percent
from 0.7 percent), Recreation and Culture (0.4 percent from 0.7 percent), and Restaurants
and Miscellaneous Goods and Services (0.8 percent from 0.9 percent).
Communication and Education remained the same at zero percent.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol
remained at 0. 7 4. Albay and Camarines Sur both stood at 0. 73, Camarines Norte at 0. 72,
Catanduanes at 0. 75, Masbate at 0. 76, and Sorsogon at 0.82.