PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region's inflation rate in May 2021 slightly decelerated to 7.5 percent from 7.9 percent in the previous month. Inflation in May a year ago was lower at 3.0 percent. The decrease in inflation in May 2021 was attributed to the Inflation Rates of these Commodity/Service groups: Food and Non-Alcoholic Beverages (5.6 percent from 6.2 percent), Housing, Water, Electricity, Gas and Other Fuels (2.2 percent from 3.0 percent), Furnishings and Household Equipment and Routine Maintenance of the House (4.3 percent from 4.4 percent), and Transport (49.4 percent from 50.7 percent). Alcoholic Beverages and Tobacco (16.2 percent from 15.1 percent}, Clothing and Footwear (4.7 percent from 4.5 percent), and Restaurants and Miscellaneous Goods and Services (8.5 percent from 8.3 percent) were the commodity groups that went up. Health (2.3 percent), Communication (-0.1 percent), Recreation and Culture (2.0 percent), and Education (0.1 percent) retained its previous month's annual growth rates. Inflation Rate in Camarines Sur is still the highest in the region at 9.8 percent, followed by Catanduanes at 9.0 percent, and Masbate at 8.3 percent. Camarines Norte Albay and Sorsogon posted lower than that of the region at 7.1 percent, 5.7 percent and 3.6 percent, respectively.
PRICE SITUATION: MONTH-ON-MONTH
On a month-on-month basis, general prices of consumer items went down at -0.1 percent.The movement was due to the decrease in inflation rates of almost all the commodity groups. Food and Non-Alcoholic Beverages (-0.7 percent from -0.5 percent), Alcoholic Beverages and Tobacco (1.5 percent from 1.6 percent}, Housing, Water, Electricity, Gas and Other Fuels (0.2 percent from 0.4 percent), Furnishings, Household Equipment and Routine Maintenance of the House (0.0 percent from 0.3 percent}, and Restaurants and Miscellaneous Goods and Services (0.4 percent from 0.8 percent). Clothing and Footwear (0.2 percent from -0.2 percent), Transport (0.1 percent from -0.1 percent), and Recreation and Culture (0.1 percent from 0.0 percent) were the commodity groups that went up. Health (0.1 percent), Communication (0.0 percent}, and Education (0.0 percent) retained its previous month's rate. With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol was recorded at 0.75. Albay stood at 0.75, Camarines Norte at 0.72, Camarines Sur at 0.73, Catanduanes at 0.75, Masbate at 0.76, and Sorsogon at 0.81.