Friday, October 9, 2020
PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region’s inflation rate in September 2020 accelerated to 4.5 percent from
4.0 percent in the previous month. Inflation in September a year ago was lower at
The upsurge in inflation in September 2020 was attributed to the Inflation Rates of
the following Commodity/Service groups: Food and Non-Alcoholic Beverages (1.6 percent
from 1.2 percent), Clothing and Footwear (3.2 percent from 2.9 percent), Housing, Water,
Electricity, Gas and Other Fuels (1.8 percent from 1.5 percent), Furnishings, Household
Equipment and Routine Maintenance of the House (3.1 percent from 2.5 percent), Transport
(37.4 percent from 29.0 percent), Education (0.1 percent from 0.0 percent), and Restaurants
and Miscellaneous Goods and Services (4.3 percent from 4.1 percent).
Alcoholic Beverages and Tobacco (21.1 percent from 32.2 percent) and Health
(2.2 percent from 2.6 percent) were the commodity groups to go down.
Communication and Recreation and Culture retained its previous month’s annual
growth rate at 0.5 percent and 1.6 percent, respectively.
Inflation Rate in Catanduanes is the highest in the region at 7.9 percent. Albay and
Sorsogon posted higher inflation rates than that of the region at 6.5 percent and 5.3 percent,
respectively. Camarines Norte, Camarines Sur, Masbate and Sorsogon posted lower than
that of the region at 3.1 percent, 3.2 percent, 3.2 percent and 5.3 percent, respectively.
PRICE SITUATION: MONTH-ON-MONTH
On a month-on-month basis, general prices of consumer items went up to
0.7 percent from -0.1 percent last month.
The movement was due to the increase in inflation rates of these commodity groups.
Food and Non-Alcoholic Beverages (0.5 percent from -0.2 percent), Clothing and Footwear
(0.6 percent from 0.2 percent), Furnishings, Household Equipment and Routine
Maintenance of the House (0.7 percent from 0.1 percent), Transport (6.6 percent from
0.5 percent), Recreation and Culture (0.2 percent from -0.3 percent), and Education
(0.1 percent from 0.0 percent).
On the other hand, Housing, Water, Electricity, Gas and Other Fuels (-0.4 percent
from -0.3 percent) and Restaurants and Miscellaneous Goods and Services (0.3 percent
from 0.6 percent) are the commodity groups to go down.
Alcoholic Beverages and Tobacco (0.1 percent), Health (0.1 percent), and
Communication (0.0 percent) remained the same.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol
remained at 0.79. Albay stood at 0.78, Camarines Norte at 0.77, Camarines Sur at 0.78,
Catanduanes at 0.78, Masbate at 0.80, and Sorsogon at 0.84.