Consumer Price Index for all Income Households in Bicol Region: January 2021

Release Date: 

Wednesday, February 10, 2021
PRICE SITUATION: YEAR-ON-YEAR
 
The Bicol Region's inflation rate in January 2021 further accelerated to 7.4 percent
from 6.6 percent in the previous month. Inflation in January a year ago was lower at
3.9 percent.
The increase in inflation in January 2021 was attributed to the Inflation Rates of most
of Commodity/Service groups: Food and Non-Alcoholic Beverages (7.4 percent from 6.6
percent), Alcoholic Beverages and Tobacco (12.3 percent from 10.5 percent), Clothing and
Footwear (4.3 percent from 3.4 percent), Housing, Water, Electricity, Gas and Other Fuels
(1.5 percent from 1.0 percent), Furnishings, Household Equipment and Routine
Maintenance of the House (3.7 percent from 3.2 percent), Transport (41.4 percent from
39.3 percent), Recreation and Culture (1. 7 percent from 1.1 percent), and Restaurants and
Miscellaneous Goods and Services (6.0 percent from 5.4 percent).
Communication (0.0 percent from 0.1 percent) was the only commodity group that
went down.
Health and Education retained its previous month's annual growth rates at
2.3 percent and 0.1 percent, respectively.
Inflation Rate in Camarines Sur is the highest in the region at 9.5 percent, followed
by Catanduanes at 8.6 percent, and Albay at 7.7 percent. Camarines Norte, Masbate and
Sorsogon posted lower than that of the region at 6.4 percent, 5.1 percent and 4.2 percent,
respectively.
 
 
PRICE SITUATION: MONTH-ON-MONTH
 
On a month-on-month basis, general prices of consumer items went down to
1. 7 percent from 2.1 percent last month.
The movement was due to the decrease in inflation rates of these commodity groups.
Food and Non-Alcoholic Beverages (2.2 percent from 3.6 percent), Transport (0.1 percent
from 3.1 percent), and Restaurants and Miscellaneous Goods and Services (0.9 percent
from 1.1 percent).
On the other hand, Alcoholic Beverages and Tobacco (2.8 percent from 1.1 percent),
Clothing and Footwear (1.3 percent from 0.5 percent), Housing, Water, Electricity, Gas and
Other Fuels (1. 7 percent from 0.2 percent), Furnishings, Household Equipment and Routine
Maintenance of the House (0.7 percent from 0.1 percent), and Health (0.6 percent from
0.2 percent), and Recreation and Culture (0.7 percent from 0.1 percent) were the commodity
groups that went up.
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 0.74. Albay and Camarines Sur both stood at 0.73, Camarines Norte at
0.72, Catanduanes at 0.75, Masbate at 0.77, and Sorsogon at 0.81.
 
 
 
 
 
 

Tags: 

Attachments: