PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region's inflation rate in June 2021 decelerated to 6.3% from 7.5% in the
previous month. Inflation in June a year ago was lower at 4.3%.
The decrease in inflation in June 2021 was attributed to the Inflation Rates of these
Commodity/Service groups: Alcoholic Beverages and Tobacco (14.6% from 16.2%),
Clothing and Footwear (4.6% from 4.7%), Furnishings and Household Equipment and
Routine Maintenance of the House (4.2% from 4.3%), Health (2.2 % from 2.3 %), Transport
(15.7% from 49.4%), Recreation and Culture (1.7% from 2.0%), and Restaurants and
Miscellaneous Goods and Services (8.3% from 8.5%).
Food and Non-Alcoholic Beverages (6.1 % from 5.6%) and Housing, Water,
Electricity, Gas and Other Fuels (4.1 % from 2.2%) were the commodity groups that went
up. Communication and Education retained its previous month's annual growth rates at
-0.1% and 0.1%, respectively.
Inflation Rate in Masbate is the highest in the region at 7.8%, followed by Camarines
Sur at 7.6%, and Camarines Norte at 6.5%. Catanduanes, Albay, and Sorsogon posted lower
than that of the region at 6.2%, 5.6%, and 3.2%, respectively.
PRICE SITUATION: MONTH-ON-MONTH
On a month-on-month basis, general prices of consumer items went up by 0.2%.
The movement was due to the increase in inflation rates of the following commodity
groups. Food and Non-Alcoholic Beverages (0.1 % from -0.7%), Housing, Water, Electricity,
Gas and Other Fuels (1.1% from 0.2%), and Furnishings, Household Equipment and
Routine Maintenance of the House (0.1 % from 0.0%).
Alcoholic Beverages and Tobacco (0.1 % from 1.5%), Health (0.0% from 0.1 %),
Transport (0.0% from 0.1%), Recreation and Culture (0.0% from 0.1%), and Restaurants
and Miscellaneous Goods and Services (0.1 % from 0.4%) were the commodity groups that
went down. Clothing and Footwear (0.2%), Communication (0.0%), and Education (0.0%)
retained its previous month's rate. With all the observed price changes in CPI, the Purchasing Power of
Peso in Bicol was recorded at 0.75, Albay stood at 0.74, Camarines Norte at 0.72, Camarines Sur at 0.73,
Catanduanes at 0.75, Masbate at 0.75, and Sorsogon at 0.82.