Consumer Price Index for all Income Households in Bicol Region: June 2022

Reference Number: 

2022-016

Release Date: 

Wednesday, July 6, 2022

RICE SITUATION: YEAR-ON-YEAR

The Bicol Region's inflation rate in June 2022 increased to 5.0% from 4.9% in the previous month. Inflation in June a year ago was higher at 5.8%.
The increase in inflation in June 2022 was attributed to the inflation rates of the following commodity/service groups: Food and Non-Alcoholic Beverages (5.0% from 4.5%), Alcoholic Beverages and Tobacco (5.9% from 4.6%), Clothing and Footwear (5.0% from 4.6%), Furnishings, Household Equipment and Routine Household Maintenance (3.9% from 3.7%), Transport (10.0% from 8.1%), Information and Communication (0.6% from 0.5%), Recreation, Sport and Culture (2.1% from 1.6%), Restaurants and Accommodation Services (3.0% from 2.7%), and Personal Care, and Miscellaneous Goods and Services (2.8% from 2.7%).

On the other hand, inflation of Housing, Water, Electricity, Gas and Other Fuels (5.9% from 6.9%) slowed down.
Health (2.6%), Education Services (0.0%), and Financial Services (0.0%) maintained its previous month's annual growth rates.
Inflation rate in Sorsogon is the highest among provinces in the region at 5.8%, followed by Masbate at 5.6%, and Camarines Sur at 5.4%. The rest of the provinces posted lower than that of the region. Albay at 4.4%, Camarines Norte at 3.9%, and Catanduanes at 4.8%.

PRICE SITUATION: MONTH-ON-MONTH

On a month-on-month basis, the inflation rate slowed down to 0.3% from 0.7% last month.
The movement was due to the decrease in inflation rates of the following: Food and Non-Alcoholic Beverages (0.0% from 0.6%), Clothing and Footwear (0.6% from 0.7%), and Housing, Water, Electricity, Gas and Other Fuels (0.5% from 0.8%).
On the other hand, the inflation rates of Alcoholic Beverages and Tobacco (1.2% from 1.1 %), Transport (1.6% from 1.3%), Information and Communication (0.1 % from 0.0%), Recreation, Sport and Culture (0.5% from 0.1 %), and Restaurants and Accommodation Services (0.3% from 0.2%) went up.
Furnishings, Household Equipment and Routine Household Maintenance (0.3%), Health (0.3%), Education Services (0.0%), Financial Services (0.0%), and Personal Care and Miscellaneous Goods and Services (0.4%) maintained its previous month's rates.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol Region remained at 0.84. Albay at 0.83, Camarines Norte at 0.86, Camarines Sur and Catanduanes at 0.84, Masbate at 0.85, and Sorsogon at 0.85.