Tuesday, April 7, 2020
PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region’s inflation rate in March 2020 decelerated further to 3.2 percent from 3.6 percent in the previous month. Inflation in March a year ago was higher at 3.9 percent.
The slowdown in inflation in March 2020 was attributed to the Inflation Rates of almost all the Commodity/Service groups: Alcoholic Beverages and Tobacco (33.5 percent from 33.6 percent), Clothing and Footwear (3.8 percent from 4.1 percent), Housing, Water, Electricity, Gas and Other Fuels (4.1 percent from 6.5 percent), Furnishings, Household Equipment and Routine Maintenance of the House (3.3 percent from 3.4 percent), Health (2.6 percent from 3.1 percent), Transport (-0.6 percent from 2.7 percent), Communication (0.5 percent from 0.7 percent), and Restaurants and Miscellaneous Goods and Services (3.1 percent from 3.2 percent).
Food and Non-Alcoholic Beverages (1.8 percent from 1.3 percent) was the only commodity group to go up.
Recreation and Culture and Education remained the same at 2.4 percent and 8.5 percent, respectively.
Inflation Rate in Albay is still the highest in the region at 5.4 percent. Camarines Norte, Catanduanes, and Sorsogon posted higher inflation rates than that of the region, at 3.6 percent, 3.9 percent, and 3.4 percent, respectively. The rest of the provinces posted lower than that of the region. Camarines Sur at 2.5 percent and Masbate at 0.2 percent.
PRICE SITUATION: MONTH-ON-MONTH
On a month-on-month basis, the general prices of consumer items went down at -0.6 percent.
The movement was due to the decrease in inflation rates of these commodity groups. Food and Non-Alcoholic Beverages (-0.9 percent from -0.5 percent), Alcoholic Beverages and Tobacco (0.5 percent from 1.0 percent), Housing, Water, Electricity, Gas and Other Fuels (-0.5 percent from 0.7 percent), Furnishings, Household Equipment and Routine Maintenance of the House (0.2 percent from 0.5 percent), Transport (-1.7 percent from -0.5 percent).
On the other hand, inflation rates went up on the following Commodity/Service Groups: Clothing and Footwear (0.2 percent from 0.1 percent), Health (0.0 percent from -0.1 percent), and Recreation and Culture (0.3 percent from 0.2 percent).
Communication and Education remained the same at 0.0 percent and Restaurants and Miscellaneous Goods and Services at 0.2 percent.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol was slightly higher at 0.81. Albay stood at 0.79, Camarines Norte at 0.78, Camarines Sur at 0.80, Catanduanes and Masbate at 0.82, and Sorsogon at 0.85.