PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region’s inflation rate in September 2017 went down to 4.7 percent. Compared to the 1.8 percent inflation rate in the same period last year, the August 2017 rate was higher by 2.9 percentage points.
The decrease was attributed to the Inflation Rate by the Food and Non-Alcoholic Beverages group (6.4 percent from 7.9 percent). Among other Commodity /Service group that went down were Furnishings, Households Equipment and Routine Maintenance of the House (1.6 percent from 1.7 percent) and health (1.2 percent from 1.4 percent).
Meanwhile the Commodity/Service groups that made increment were Transport (5.7 percent from 1.3 percent), Alcoholic Beverages and Tobacco (3.9 percent from 3.6 percent), Clothing and footwear (1.7 percent from 1.6 percent), and Housing, Water, Electricity, Gas and Other Fuels (3.8 percent from 3.4 percent).
Communication remained at 1.0 percent and Recreation and Culture at 0.7 percent. Education and Restaurant and miscellaneous Goods and Services also did not move at 0.5 percent and 2.6 percent respectively.
Camarines Sur province has the highest inflation rate in the region at 6.8 percent. Meanwhile, Catanduanes and Masbate remained to have the lowest inflation rate at 2.8 percent. Albay slipped to 4.5 percent, Camarines Norte pegged at 4.0 percent while Sorsogon settled at 3.9 percent.
PRICE SITUATION: MONTH-ON-MONTH
On a month-on-month basis, the general prices of consumer items submerged at -0.1 percent. The decline was significantly attributed by the Food and Non-Alcoholic Beverages commodity (-0.7 percent from 0.7 percent). Alongside with this, the decline was also credited by Furnishings, Household Equipment and Routine Maintenance of the House (0.0 percent from 0.2 percent), Health (0.1 percent from 0.2 percent), Communication (0.0 percent from 0.2 percent) and Recreation and Culture (0.0 percent from 0.1 percent).
On the other side, the Commodity/Service Group that went up were Transport (4.7 percent from 0.7 percent) and Alcoholic Beverages and Tobacco (0.5 percent from 0.3 percent).
From last month’s, the non-movers were Clothing and Footwear (0.2 percent), Housing, Water, Electricity, Gas and Other fuels (0.2 percent) and Education (0.0 percent) Purchasing Power of Peso in Bicol Region persisted at 0.65. The highest Purchasing Power of Peso is in Albay at 0.69 while Camarines Norte and Sorsogon pegged at 0.65. the lowest is at the province of Masbate and Camarines Sur pegged at 0.63. The province of Catanduanes remained at 0.64.