Friday, August 7, 2020
PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region’s inflation rate in July 2020 decelerated to 4.2 percent from
4.3 percent in the previous month. Inflation in July a year ago was slightly lower at
The slowdown in inflation in July 2020 was attributed to the Inflation Rates of the
following Commodity/Service groups: Food and Non-Alcoholic Beverages (1.4 percent from
2.2 percent), and Housing, Water, Electricity, Gas and Other Fuels (2.2 percent from
Alcoholic Beverages and Tobacco (33.2 percent from 32.5 percent), Clothing and
Footwear (3.4 percent from 3.0 percent), Furnishings, Household Equipment and Routine
Maintenance of the House (3.4 percent from 2.9 percent), Health (2.9 percent from
2.2 percent), Transport (27.6 percent from 23.3 percent), Recreation and Culture
(2.5 percent from 2.4 percent), and Restaurants and Miscellaneous Goods and Services
(3.9 percent from 2.6 percent) were the commodity groups to go up.
Communication (0.5 percent) and Education (5.4 percent) retained their previous
month’s annual growth rates.
Inflation Rate in Albay is the highest in the region at 6.0 percent. Catanduanes
posted higher inflation rate than that of the region at 5.9 percent. Camarines Sur posted the
same inflation rate as the region at 4.2 percent. Camarines Norte, Masbate and Sorsogon
posted lower than that of the region at 3.9 percent, 1.7 percent and 3.1 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 1.3 percent last month.
The movement was due to the decrease in inflation rates of these commodity groups.
Food and Non-Alcoholic Beverages (-0.9 percent from -0.4 percent), Alcoholic Beverages
and Tobacco (0.6 percent from 1.5 percent), Transport (3.0 percent from 29.1 percent), and
Recreation and Culture (0.2 percent from 0.4 percent).
On the other hand, inflation rates went up on the following Commodity/Service
Groups: Clothing and Footwear (0.3 percent from 0.2 percent), Housing, Water, Electricity,
Gas and Other Fuels (-0.2 percent from -0.7 percent), Furnishings, Household Equipment
and Routine Maintenance of the House (0.5 percent from 0.2 percent), Health (0.7 percent
from 0.1 percent), and Restaurants and Miscellaneous Goods and Services (1.3 percent
from 0.3 percent).
Communication and Education both remained the same at zero percent.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol
remained at 0.79. Albay stood at 0.78, Camarines Norte at 0.77, Camarines Sur at 0.78,
Catanduanes at 0.80, Masbate at 0.81, and Sorsogon at 0.85.