Consumer Price Index for all Income Households in Bicol Region: July 2017

Release Date: 

Sunday, July 30, 2017

PRICE SITUATION:  YEAR-ON-YEAR

The Bicol Region’s inflation rate in July 2017 slipped at 5.0 percent. Compared to the 1.0 percent inflation rate in the same period last year, the July 2017 rate was higher by 4.0 percentage points.

The Transport Service group made a great impact on this month’s Inflation Rate situation (0.4 percent from 4.6 percent). Furnishings, Households Equipment and Routine Maintenance of the House group also went down (1.5 percent from 1.7 percent)

On the other hand, The Commodity/Service Group that increased were; Food and Non-Alcoholic Beverages (7.7 percent from 7.6 percent), Alcoholic Beverages and Tobacco (4.3 percent from 4.0 percent), Clothing and Footwear (1.7 percent from 1.4 percent), Housing, Water, Electricity, Gas and Other Fuels (3.2 percent from 2.4 percent), Health (1.4 percent from 1.2 percent), Communication (0.7 percent from 0.6 percent) and Recreation & Culture (0.6 percent from 0.5 percent).

Meanwhile, Education and Restaurants and Miscellaneous Goods and Services Groups remained at 0.5 percent and 2.6 percent respectively.

Across provinces, Camarines Sur has the highest Inflation Rate at 5.7 percent though it went down from last month’s Inflation Rate of 6.1 percent. Meanwhile, the provinces that posted increase were Albay, Camarines Norte and Masbate at 5.4 percent, 4.7 percent and 4.5 percent respectively.

Sorsogon and Catanduanes posted a decline and remained to have the lowest Inflation Rate in the region at 3.9 percent and 3.3 percent respectively.

 
 
 
  
 
PRICE SITUATION:  MONTH-ON-MONTH

On a month-on-month basis, the general prices of consumer items went down at -0.2 percent. The Commodity/ Service Groups  that contributed to the decrease were Food and Non-Alcoholic Beverages (0.0 percent from 0.6 percent), Furnishings, Households Equipment and Routine Maintenance of the House (0.1 percent from 0.3 percent), Transport (-4.5 percent from -1.1 percent), Education (0.0 percent from 0.5 percent) and Restaurants and Miscellaneous Goods and Services (0.3 percent from 0.6 percent)

 Whereas, notable increase on the following Commodity/Service Groups were observed; Alcoholic Beverages and Tobacco (0.4 percent from 0.1 percent), Clothing and Footwear (0.2 percent from 0.1 percent), Housing, Water, Electricity, Gas and other Fuels (0.5 percent from -0.2 percent), Communication (0.1 percent from 0.0 percent), and Recreation and Culture (0.2 percent from 0.1 percent).

Purchasing Power of Peso in Bicol Region was pegged at 0.65. This month, only Camarines Sur posted an increase at 0.64. The highest PPP is still in Albay at 0.69 while the lowest is in Masbate at 0.62. Camarines Norte, Catanduanes and Sorsogon were stable at 0.65, 0.64 and 0.65 respectively.

 
 
 
 
Table 1. Inflation Rate (IR) and Purchasing Power of the Peso (PPP) in Bicol Region,
by Province: July 2016, June 2017 and July 2017
(2006=100)
 
Region and Province Inflation Rate (IR) Purchasing Power of the Peso (PPP)
Jul 2016 Jun 2017 Jul 2017 Jul 2016 Jun 2017 Jul 2017
Bicol Region 1.0 5.1 5.0 0.68 0.65 0.65
             
Albay 1.1 5.2 5.0 0.73 0.69 0.69
Camarines Norte 0.9 4.3 4.7 0.68 0.65 0.65
Camarines Sur 0.7 6.1 5.7 0.67 0.63 0.64
Catanduanes 2.1 3.4 3.3 0.66 0.64 0.64
Masbate 1.9 4.3 4.5 0.65 0.62 0.62
Sorsogon -0.1 4.4 3.9 0.68 0.65 0.65

 
 
 
Table 2.  Year-on-Year Inflation Rate (IR) by Commodity/Service Group, July 2016,
June 2017 and July 2017: Bicol Region
(2006=100)
 
Commodity/Service Group
June 2016
May 2017
June 2017
       
All Items
1.0
5.1
5.0
I.  Food and Non-Alcoholic Beverages
-0.4
7.6
7.7
II.  Alcoholic Beverages and Tobacco
2.4
4.0
4.3
III.  Clothing and Footwear
2.0
1.4
1.7
IV.  Housing, Water, Electricity, Gas and Other Fuels
1.7
2.4
3.2
V.  Furnishings, Household Equipment and
3.2
1.7
1.5
Routine Maintenance of the House
     
VI.  Health
3.2
1.7
1.5
VII. Transport
2.2
4.6
0.4
VIII. Communication
0.0
0.6
0.7
IX. Recreation and Culture
1.3
0.5
0.6
X. Education
0.8
0.5
0.5
XI. Restaurants and Miscellaneous Goods and Services
4.4
2.6
2.6
 
 
Table 3.  Consumer's Price Index for All Income Households in Bicol Region,
y Province and by Commodity/Service Group:  July 2017
2006=100)
 
Commodity/Service Group
Region V Albay Cam. Norte Cam. Sur Catanduanes Masbate Sorsogon
               
All Items
154.0
145.3
153.5
157.0
156.2
160.4
153.9
I.  Food and Non-Alcoholic Beverages
174.0
166.4
 174.8
175.5
162.2
184.5
173.7
II.  Alcoholic Beverages and Tobacco
183.7
164.5
210.2
174.7
179.6
208.7
200.2
III.  Clothing and Footwear
129.0
121.6
148.0
125.3
138.4
133.5
127.8
IV.  Housing, Water, Electricity, Gas and Other Fuels
128.9
124.2
133.1
128.0
153.3
127.1
129.4
V.  Furnishings, Household Equipment and Routine Maintenance of the House
141.2
145.5
144.0
130.4
147.2
140.2
156.8
VI.  Health
132.3
124.3
144.0
131.3
128.1
134.3
142.9
VII. Transport
144.3
142.9
122.0
163.9
137.6
129.2
126.3
VIII. Communication
94.7
78.8
85.6
97.2
114.5
106.2
100.6
IX. Recreation and Culture
112.9
105.9
118.0
110.6
118.7
115.1
116.7
X. Education
148.1
160.7
153.2
117.9
130.8
179.8
151.0
XI. Restaurants and Miscellaneous Goods and Services
149.1
120.7
138.9
177.0
183.4
148.1
140.7
 
Table 4. Consumer's Price Index and Month-on-Month IR For All Income Households by
Province: June 2017 and July 2017
(2006=100)
 
Commodity/
Service Group
 
May
2017
 
 
June
2017
 
Month-on-Month
Inflation Rate
May
2017
June
2017
ALL ITEMS
153.3
154.0
0.3
-0.2
I. FOOD AND NON-ALCOHOLIC BEVERAGES
174.0
174.0
0.6
0.0
* Food
175.9
175.9
0.6
0.0
Bread and Cereals
178.7
178.4
0.3
-0.2
Rice
179.8
179.4
0.3
-0.2
Corn
201.9
202.0
0.0
0.0
Other Cereals, Flour, Cereal Preparation, Bread,  Pasta and
       
Other Bakery Products
172.6
172.8
0.1
0.1
Meat
141.8
142.7
0.1
0.6
Fish
184.9
185.8
0.7
0.5
Milk, Cheese and Eggs
148.0
148.2
0.3
0.1
Oils and Fats
173.9
174.2
0.4
0.2
Fruit 177.8 176.2 1.3 -0.9
Vegetables 230.5 229.0 2.5 -0.7
Sugar, Jam, Honey, Chocolate and Confectionery 147.5 147.6 0.2 0.1
Food Products N.E.C. 173.1 173.0 0.9 -0.1
* Non-alcoholic Beverages 140.6 140.6 0.2 0.0
II. ALCOHOLIC BEVERAGES AND TOBACCO 183.0 183.7 0.1 0.4
Alcoholic Beverages 153.7 154.6 0.1 0.6
Tobacco 217.3 217.9 0.0 0.3
NON-FOOD 135.2 134.7 -0.1 -0.4
III. CLOTHING AND FOOTWEAR 128.7 129.0 0.1 0.2
Clothing 126.4 126.6 0.1 0.2
Footwear 135.1 135.7 0.1 0.4
IV. HOUSING, WATER, ELECTRICITY, GAS AND OTHER FUELS 128.3 128.9 -0.2 0.5
Actual Rentals for Housing 118.1 118.1 0.0 0.0
Maintenance and Repair of the Dwelling 141.6 141.9 0.1 0.2
Water Supply and Miscellaneous Services Relating to the Dweling 132.0 132.0 0.0 0.0
Electricity, Gas and Other Fuels 143.7 145.4 -0.6 1.2
V. FURNISHINGS, HOUSEHOLD EQUIPMENT AND ROUTINE        
MAINTENANCE OF THE HOUSE 141.1 141.2 0.3 0.1
Furniture and Furnishings, Carpets and Other Floor Coverings 108.5 108.5 0.3 0.0
Household Textiles 124.5 124.6 0.4 0.1
Household Appliances 114.2 114.2 0.0 0.0
Glassware, Tableware and Household Utensils 133.8 134.3 0.0 0.4
Tools and Equipment for House and Garden 128.8 129.2 0.2 0.3
Goods and Services for Routine Household Maintenance 152.7 152.8 0.4 0.1
VI. HEALTH 132.1 132.3 0.2 0.2
Medical Products, Appliances and Equipment 129.3 129.6 0.3 0.2
Out-patient Services 143.9 143.9 0.0 0.0
Hospital Services 124.8 124.8 0.0 0.0
VII. TRANSPORT 151.1 144.3 -1.1 -4.5
Operation of Personal Transport Equipment 125.1 127.3 0.0 1.8
Transport Services 157.9 148.6 -1.3 -5.9
VIII. COMMUNICATION 94.6 94.7 0.0 0.1
Postal Services 141.0 141.0 0.0 0.0
Telephone and Telefax Equipment 52.5 52.5 0.0 0.0
Telephone and Telefax Services 107.8 107.9 0.0 0.1
IX. RECREATION AND CULTURE 112.7 112.9 0.1 0.2
Audio-visual, Photographic and Information Processing Equipment 98.3 98.3 0.0 0.0
Other Major Durables for Recreation and Culture        
Other Recreational Items and Equipment, Gardens and Pets 121.1 121.3 0.1 0.2
Recreational and Cultural Services 132.4 132.4 0.0 0.0
Newspapers, Books and Stationery 135.5 135.8 0.4 0.2
X. EDUCATION 148.1 148.1 0.5 0.0
Pre-primary and Primary Education 139.4 139.4 0.4 0.0
Secondary Education 139.4 139.4 0.4 0.0
Tertiary Education 139.8 139.8 0.6 0.0
Education Not Definable by Level        
XI. RESTAURANTS AND MISCELLANEOUS GOODS AND SERVICES 148.7 149.1 0.6 0.3
Catering Services 160.7 161.1 1.0 0.2
Personal Care 132.4 132.7 0.1 0.2
Personal Effects N.E.C. 137.1 137.3 0.0 0.1

 

DEFINITIONS AND CONCEPTS

Consumers’ Price Index - a statistical measure of the change in average retail prices of a fixed basket of goods and services bought by a specific group of consumers in a given area in a given period of time.

Purchasing Power of the Currency or Peso (PPP) - a measure of the volume of goods and services which the currency can buy at any given period relative to that which it could purchase during the base year. It is computed as the reciprocal of the CPI for the period under review multiplied by 100.

Market Basket - the total number of goods and services in constant amounts and qualities which are samples of the goods and services available in the market and included in the construction of the index. CPI market basket was selected to represent the composite price behavior of all goods and services purchased by consumers. Composition of the 2006 market basket was determined based on the results of the 2006 update of the 2000 basket. Provinces and selected cities had own market baskets.

Base Year - it identifies the base period with which the index relates. It is a period of time chosen as reference on which a price index is computed. The index for the base year is 100.

Retail Price - the actual price at which retailers sell a commodity on spot or earliest delivery, usually in small quantities for consumption and not for resale. It is confined to transactions on cash basis in the free market and excludes black-market prices and prices of commodities that are on sale as in summer sales, anniversary sales, Christmas sales, etc.

Percent Change - the percent point change expressed as percent of the index of the earliest date.

Inflation Rate - the annual rate of change or the year-on-year change of the CPI. Inflation is interpreted in terms of declining purchasing power of money.

Note to Users: The monthly Consumers Price Index is computed based on the average retail prices of goods and services collected during the first week and mid-month of the reference month.

 

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