Friday, July 12, 2019
PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region’s Inflation Rate in June 2019 slowed down further to 3.0 percent. Compared with the 6.9 percent Inflation Rate in the same period last year, the June 2019 Inflation Rate was lower by 3.9 percentage points.
The movement was attributed to the Inflation Rates of the following Commodity/Service groups: Alcoholic Beverages and Tobacco (from 19.4 percent to 19.7 percent), Clothing and Footwear (from 5.9 percent to 6.0 percent), Housing Water, Electricity, Gas and Other Fuels (from 5.2 percent to 6.6 percent), Communication (from 0.4 percent to 0.7 percent), Recreation and Culture (from 2.8 percent to 2.9 percent) and Education (from -22.0 percent to -20.6 percent)
On the other hand, the heavily weighted Food and Non-Alcoholic Beverages went down (from 1.9 percent to 1.1 percent) along with Transport (from 4.8 percent to 1.7 percent) and restaurants and Miscellaneous Goods and services (from 6.1 percent to 6.0 percent) while Health and furnishings, Household Equipment and Routine Maintenance of the House remained the same at 5.1 percent and 6.2 percent, respectively.
Across provinces, Inflation Rate in Camarines Sur posted at 3.7 percent, Camarines Norte at 3.4 percent, Sorsogon at 3.0 percent while Albay, Catanduanes and Masbate has noted a much lower Inflation rate than that of the region at 2.5 percent, 1.9 percent and 1.6 percent, respectively.
PRICE SITUATION: MONTH-ON-MONTH
On a Month-on-month bases, the general prices of consumer items was pegged at 0.0 percent.
Increase was noted on the prices of Alcoholic Beverages and Tobacco (from 0.5 percent to 0.6 percent), Health (from 0.2 percent to 0.5 percent), Recreation and Culture (from 0.0 percent to 0.3 percent) and Education (from 0.0 percent to 2.9 percent).
However, prices went down on the following Commodity/Service Groups; Food and Non-alcoholic Beverages (from 0.0 percent to -0.2 percent), Clothing and Footwear (from 0.6 percent to 0.2 percent0, Furnishings, Household Equipment and Routine Maintenance of the House (from 0.4 percent to 0.2 percent), Transport (from 1.0 percent to -1.4 percent) and Restaurants and Miscellaneous Goods and Services (from 0.7 percent to 0.0 percent).
Inflation Rate was unchanged in Communication at 0.0 percent and Housing, Water, Electricity, Gas and Other Fuels at 0.6 percent.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol is at 0.83 and across provinces Sorsogon at 0.88, Catanduanes at 0.85, Albay at 0.83, Masbate at 0.82 while Camarines Sur at 0.81 and Camarines Norte at 0.80.