Consumer Price Index for all Income Households in Bicol Region: June 2020

Reference Number: 

2020-018

Release Date: 

Monday, July 13, 2020
PRICE SITUATION: YEAR-ON-YEAR
 
The Bicol Region’s inflation rate in June 2020 accelerated to 4.3 percent from
2.9 percent in the previous month. Inflation in June a year ago was slightly lower at
3.0 percent.
The step up in inflation in June 2020 was attributed to the Inflation Rates of the
following Commodity/Service groups: Alcoholic Beverages and Tobacco (32.5 percent from
31.3 percent), Transport (23.3 percent from -6.0 percent), Recreation and Culture
(2.4 percent from 2.3 percent), and Restaurants and Miscellaneous Goods and Services
(2.6 percent from 2.2 percent).
Food and Non-Alcoholic Beverages (2.2 percent from 2.4 percent), Housing,
Water, Electricity, Gas and Other Fuels (2.6 percent from 3.7 percent), Health (2.2 percent
from 2.5 percent), and Education (5.4 percent from 8.5 percent) were the commodity groups
to go down.
Clothing and Footwear (3.0 percent), Furnishings, Household Equipment and
Routine Maintenance of the House (2.9 percent), and Communication (0.5 percent) retained
their previous month’s annual growth rates.
Inflation Rate in Catanduanes is the highest in the region at 6.8 percent. Albay and
Camarines Norte posted higher inflation rates than that of the region, at 5.8 percent and
4.7 percent, respectively. Camarines Sur posted the same inflation rate as the region at
4.3 percent. Masbate and Sorsogon posted lower than that of the region at 0.8 percent and
3.8 percent, respectively.
 
 
PRICE SITUATION: MONTH-ON-MONTH
 
On a month-on-month basis, general prices of consumer items went up at
1.4 percent from 0.2 percent last month.
The movement was due to the increase in inflation rates of these commodity groups.
Alcoholic Beverages and Tobacco (1.5 percent from 0.5 percent), Clothing and Footwear
(0.2 percent from 0.0 percent), Furnishings, Household Equipment and Routine
Maintenance of the House (0.2 percent from 0.1 percent), Transport (29.3 percent from
0.3 percent), Recreation and Culture (0.4 percent from 0.0 percent), and Restaurants and
Miscellaneous Goods and Services (0.3 percent from 0.2 percent).
On the other hand, inflation rates went down on the following Commodity/Service
Groups: Food and Non-Alcoholic Beverages (-0.4 percent from -0.1 percent), Housing,
Water, Electricity, Gas and Other Fuels (-0.5 percent from 1.0 percent), and Health
(0.1 percent from 0.2 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
went down to 0.79. Albay stood at 0.78, Camarines Norte at 0.77, Camarines Sur at 0.78,
Catanduanes at 0.79, Masbate at 0.81, and Sorsogon at 0.85.
 
 
 
 
 
 
 
 

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