Consumer Price Index for all Income Households in Bicol Region: May 2020

Reference Number: 

2020-017

Release Date: 

Monday, June 8, 2020
PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region’s inflation rate in May 2020 decelerated further to 2.9 percent from
3.1 percent in the previous month. Inflation in May a year ago was slightly higher at
3.3 percent.
The slowdown in inflation in May 2020 was attributed to the Inflation Rates of the
following Commodity/Service groups: Food and Non-Alcoholic Beverages (2.4 percent from
2.5 percent), Clothing and Footwear (3.0 percent from 3.6 percent), Furnishings, Household
Equipment and Routine Maintenance of the House (2.9 percent from 3.2 percent), Health
(2.5 percent from 2.6 percent), Transport (-6.0 percent from -5.3 percent), and Restaurants
and Miscellaneous Goods and Services (2.2 percent from 2.7 percent).
Housing, Water, Electricity, Gas and Other Fuels (3.7 percent from 3.4 percent) was
the only commodity group to go up.
Alcoholic Beverages and Tobacco (31.3 percent), Communication (0.5 percent),
Recreation and Culture (2.3 percent), and Education (8.5 percent) retained their previous
month’s annual growth rates.
Inflation Rate in Albay is still the highest in the region at 5.3 percent. Camarines
Norte, Catanduanes, and Sorsogon posted higher inflation rates than that of the region, at
3.8 percent, 4.0 percent, and 3.3 percent, respectively. The rest of the provinces posted
lower than that of the region. Camarines Sur at 1.7 percent and Masbate at 0.2 percent.
 
PRICE SITUATION: MONTH-ON-MONTH
On a month-on-month basis, general prices of consumer items went up at
0.2 percent from 0.0 percent last month.
The movement was due to the increase in inflation rates of these commodity groups.
Housing, Water, Electricity, Gas and Other Fuels (1.0 percent from -0.6 percent), Health
(0.2 percent from 0.1 percent), and Transport (0.3 percent from -2.8 percent),
On the other hand, inflation rates went down on the following Commodity/Service
Groups: Food and Non-Alcoholic Beverages (-0.1 percent from 0.5 percent) and Clothing
and Footwear (0.0 percent from 0.2 percent).
Alcoholic Beverages and Tobacco (0.5 percent), Furnishings, Household Equipment
and Routine Maintenance of the House (0.1 percent), Communication (0.0 percent),
Recreation and Culture (0.0 percent), Education (0.0 percent) and Restaurants and
Miscellaneous Goods and Services (0.2 percent) remained the same.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol
went down to 0.80. Albay stood at 0.79, Camarines Norte at 0.77, Camarines Sur at 0.80,
Catanduanes at 0.81, Masbate at 0.82, and Sorsogon at 0.85.
 
 
 
 

 
 

Tags: 

Attachments: