Consumer Price Index for all Income Households in Bicol Region: January 2019

Reference Number: 

2019-002

Release Date: 

Thursday, February 7, 2019

PRICE SITUATION: YEAR-ON-YEAR The Bicol Region’s inflation rate in January 2019 further slowed down to 5.4 percent. Compared to the 3.1 percent inflation rate in the same period last year, the January 2019 rate was higher by 2.3 percentage points. The movement was attributed to the Inflation Rate by the Transport Commodity/Service group (from 1.7 percent to 2.1 percent). The heavily weighted Food and Non-Alcoholic Beverages went down (from 8.1 percent to 6.3 percent) along with most of the commodity/service groups such as Alcoholic Beverages and Tobacco (from 24.1 percent to 20.1 percent), Housing, Water, Electricity, Gas and Other Fuels (from 7.1 percent to 5.1 percent), Furnishings, Household Equipment and Routine Maintenance of the House (from 9.3 percent to 9.1 percent), Health (from 16.0 percent to 8.3 percent), Communication (from 1.7 percent to 1.0 percent) and Recreation and Culture (from 3.3 percent to 3.2 percent). Clothing and Footwear, Education and Restaurants and Miscellaneous Goods and Services remained the same at 5.8 percent, -22.0 percent, and 6.0 percent respectively. Inflation Rate in Camarines Sur is still highest in the region at 7.5 percent. Camarines Norte posted a higher Inflation Rate than of the region at 5.6 percent. The rest of the provinces posted lower Inflation Rate than of the Region. Albay at 3.9 percent, Catanduanes at 4.4 percent, Masbate at 4.7 percent and Sorsogon pegged at 3.6 percent. PRICE SITUATION: MONTH-ON-MONTH On a Month-on-month bases, the general prices of consumer items went up by 0.3 percent.The increase was observed on Food and Non-Alcoholic Beverages (from -1.4 percent to 0.4 percent), Alcoholic Beverages and Tobacco (from 1.2 percent to 2.0 percent), Transport (from -2.2 percent to -0.1 percent), and Restaurants and Miscellaneous Goods and Services (from 0.3 percent to 0.4 percent). On the other hand, prices went down on the following Commodity/Service Groups: Clothing and Footwear (from 0.6 percent to 0.3 percent), Housing, Water, Electricity, Gas and Other Fuels (from 0.0 percent to -0.2 percent) and Recreation and Culture (from 0.4 percent to 0.0 percent). Furnishings, Household Equipment and Routine Maintenance of the House, and Health remained at 0.2 percent and Communication and Education remained at 0.0 percent. With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol was observed at 0.83. Sorsogon stood at 0.89 while Camarines Norte and Camarines Sur at 0.81. Albay at 0.84, Catanduanes at 0.85, and Masbate at 0.82.


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