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

Release Date: 

Wednesday, April 13, 2022

PRICE SITUATION: YEAR-ON-YEAR

The Bicol Region's inflation rate in March 2022 increased to 3.8% from 2.8% in the previous month. Inflation in March a year ago was higher at 7.6%. The increase in inflation in March 2022 was attributed to the inflation rates of the following commodity/service groups: Food and Non-Alcoholic Beverages (from 1.4% to 3.0%), Clothing and Footwear (4.0% from 3.9%), Housing, Water, Electricity, Gas and Other Fuels (6.3% from 4.1 %), Furnishings, Household Equipment and Routine Household Maintenance (3.9% from 3.1 %), Health (2.9% from 2.3%), Transport (5.3% from 3.9%) Information and Communication (0.5% from -0.1 %) and Personal Care, and Miscellaneous Goods and Services (2.5% from 2.4%). Alcoholic Beverages and Tobacco (5.1 % from 5.9%), Recreation, Sport and Culture (1.5% from 2.2%), and Restaurants and Accommodation Services (3.5% from 6.5%), were the commodity groups that went down. Education Services (0.0%), and Financial Services (49.5%) maintained its previous month's annual growth rates. Inflation rate in Sorsogon is highest in the region at 6.5, followed by Masbate at 3.9%. The rest of the provinces posted lower than that of the region. Albay and Camarines Sur at 3.6%, Camarines Norte (1.7%), Catanduanes at 2.6%.

 

PRICE SITUATION: MONTH-ON-MONTH

On a month-on-month basis, the inflation rate slightly increased to 0.8% from 0.1 % last month. The movement was due to the increase in inflation rates of the heavily-weighted Food and Non-Alcoholic Beverages (0.4% from -0.6%), Alcoholic, Beverages and Tobacco (0.9% from 0.6%), Housing, Water, Electricity, Gas and Other Fuels (1.8% from 0.9%), Furnishings, Household Equipment and Routine Household Maintenance (0.6% from 0.5%), Transport (2.1 % from 0.6%), and Personal Care and Miscellaneous Goods and Services (0.4% from 0.3%). On the other hand, the inflation rates of Clothing and Footwear (0.3% from 0.6%) Health (0.1 % from 0.6%), Information and Communication (0.0% from 0.2%) Recreation, Sport and Culture (0.2% from 0.4%), and Restaurants and Accommodation Services (0.1 % from 0.8%) went down. Education Services (0.0%) and Financial Services (0.0%) maintained its previous month's rates. With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol Region is pegged at 0.85. Albay at 0.84, Camarines Norte at 0.87, Camarines Sur and Catanduanes at 0.85, Masbate at 0.86, and Sorsogon at 0.84.

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