Monday, June 10, 2019
PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region’s Inflation Rate in May 2019 remained at 3.3 percent (Inflation Rate in April 2019 was adjusted from 3.4 percent to 3.3 percent). Compared to the 6.4 percent Inflation Rate in the same period last year, the May 2019 rate was higher by 3.1 percentage points.
The movement was attributed to the Inflation Rates of the following Commodity/Service groups: Clothing and Footwear (from 5.8 percent to 5.9 percent), Furnishings, Household Equipment and Routine Maintenance of the House (from 5.8 percent to 6.2 percent) and Transport (from 4.6 percent to 4.8 percent).
On the other hand, the heavily weighted Food and Non-Alcoholic Beverages went down (from 2.0 percent to 1.9 percent) along with Alcoholic Beverages and Tobacco (from 19.7 percent to 19.4 percent), Housing, Water, Electricity, Gas and Other Fuels (from 5.8 percent to 5.2 percent), Health (from 5.4 percent to 5.1 percent), Communication (from 0.5 percent to 0.4 percent), Recreation and Culture (from 3.0 percent to 2.8 percent) and Restaurants and Miscellaneous Goods and Services (from 6.3 percent to 6.1 percent). The only Commodity/Service group that did not move was Education, pegged at -22.0 percent.
Inflation Rate in Camarines Sur, the highest in the Region at 4.4 percent while Catanduanes, the lowest at 1.6 percent. Sorsogon and Camarines Norte posted higher Inflation Rate than that of the Region at 3.4 percent while Albay and Masbate posted otherwise at 2.4 percent and 2.5 percent, respectively.
PRICE SITUATION: MONTH-ON-MONTH
On a Month-on-month bases, the general prices of consumer items went up at 0.3 percent.
The increase was noted on the prices of Food and Non-Alcoholic Beverages (from -1.6 percent to 0.0 percent).
However, prices went down on the following Commodity/Service Groups; Alcoholic Beverages and Tobacco (from 2.8 percent to 0.5 percent), Health (from 0.5 percent to 0.2 percent), Transport (from 3.5 percent to 1.0 percent), Restaurants and Miscellaneous Goods and Services (from 0.8 percent to 0.7 percent), Clothing and Footwear (from 0.8 percent to 0.6 percent), Housing, Water, Electricity, Gas and Other Fuels (from 1.8 percent to 0.6 percent), Communication (from 0.2 percent to 0.0 percent) and Recreation and Culture (from 0.4 percent to 0.0 percent). Education remained at 0.0 percent.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol is unchanged at 0.83 and across provinces Sorsogon at 0.87, Catanduanes at 0.85, Albay at 0.83, Masbate at 0.82 while Camarines Sur at 0.81 and Camarines Norte at 0.80.