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

Reference Number: 

2020-031

Release Date: 

Wednesday, December 9, 2020
PRICE SITUATION: YEAR-ON-YEAR
 
The Bicol Region’s inflation rate in November 2020 accelerated to 5.5 percent from
4.1 percent in the previous month. Inflation in November a year ago was lower at
1.5 percent.
The increase in inflation in November 2020 was attributed to the Inflation Rates of
most of Commodity/Service groups: Food and Non-Alcoholic Beverages (4.3 percent from
1.7 percent), Housing, Water, Electricity, Gas and Other Fuels (1.9 percent from
1.2 percent), Furnishings, Household Equipment and Routine Maintenance of the House
(3.1 percent from 2.9 percent), Health (2.3 percent from 2.0 percent), Transport
(37.6 percent from 37.4 percent), and Restaurants and Miscellaneous Goods and Services
(4.4 percent from 4.3 percent).
Alcoholic Beverages and Tobacco (10.1 percent from 10.4 percent), Clothing and
Footwear (2.9 percent from 3.1 percent), Communication (0.3 percent from 0.5 percent),
and Recreation and Culture (1.1 percent from 1.2 percent) were the commodity groups that
went down.
Education retained its previous month’s annual growth rate at 0.1 percent.
Inflation Rate in Albay is the highest in the region at 8.3 percent. Catanduanes
posted higher inflation rate than that of the region at 8.0 percent. Camarines Norte,
Camarines Sur, Masbate, and Sorsogon posted lower than that of the region at 5.0 percent,
4.5 percent, 3.2 percent, and 5.1 percent, respectively.
 
 
PRICE SITUATION: MONTH-ON-MONTH
 
On a month-on-month basis, general prices of consumer items went up to
1.8 percent from 0.2 percent last month.
The movement was due to the increase in inflation rates of these commodity groups.
Food and Non-Alcoholic Beverages (3.1 percent from 0.3 percent), Alcoholic Beverages
and Tobacco (2.6 percent from 0.5 percent), Housing, Water, Electricity, Gas and Other
Fuels (0.9 percent from -0.2 percent), Furnishings, Household Equipment and Routine
Maintenance of the House (0.4 percent from 0.1 percent), Health (0.4 percent from
0.0 percent), Transport (0.4 percent from -0.1 percent), and Restaurants and Miscellaneous
Goods and Services (0.5 percent from 0.2 percent).
On the other hand, Clothing and Footwear (0.2 percent from 0.5 percent) was the
only commodity groups that went down.
Communication, Recreation and Culture, and Education remained the same at zero
percent.With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol
declined to 0.77. Albay amd Camarines Norte both stood at 0.75, Camarines Sur and
Catanduanes at 0.77, Masbate at 0.79, and Sorsogon at 0.83.
 
 
 
 
 
 

Tags: