Wednesday, October 6, 2021
CONSUMER PRICE INDEX FOR ALL INCOME HOUSEHOLDS IN REGION V
PRICE SITUATION: YEAR-ON-YEAR
The Bicol Region's inflation rate in September 2021 slowed down to 6.9% from 7.4% in the previous month. Inflation in September a year ago was lower at 4.5%.
The decrease in inflation in September 2021 was attributed to the inflation rates of the following commodity/service groups: Food and Non-Alcoholic Beverages (7.9% from 8.2%), Clothing and Footwear (5.2% from 5.4%), Furnishings and Household Equipment and Routine Maintenance of the House (3.9% from 4.2%), Transport (5.7% from 12.6%), and Education (0.0% from 0.1 %).
Alcoholic Beverages and Tobacco (14.4% from 14.2%), was the only commodity group that went up.
Housing, Water, Electricity, Gas and Other Fuels (6.3%), Health (2.2%), Communication (-0.1 %), Recreation and Culture (2.0%), and Restaurants and Miscellaneous Goods and Services (7.4%) maintained its previous month's annual growth rates.
Inflation rate in Camarines Sur is still the highest in the region at 8.5%, followed by Masbate at 7.4%. The rest of the provinces posted lower than that of the region. Ca marines Norte at 6.8%, Albay at 6.4%, Catanduanes at 6.3%, and Sorsogon at 3.3%
PRICES/TUA TION: MONTH-ON-MONTH
On a month-on-month basis, the inflation rate went down to 0.2% from 0.7% last month.
The movement was due to the decrease in inflation rates of the heavily-weighted Food and Non-Alcoholic Beverages (0.2% from 1.3%), Alcoholic Beverages and Tobacco (0.2% from 0.3%), Clothing and Footwear (0.4% from 0.7%), Housing, Water, Electricity, Gas and Other Fuels (-0.5% from 0.6%), Transport (0.1 % from 0.2%), and Restaurants and Miscellaneous Goods and Services (0.4% from 0.5%).
On the other hand, the inflation rate of Furnishings, Household Equipment and Routine Maintenance of the House (0.4% from 0.2%), and Recreation and Culture (0.2% from 0.1%) went up.
Health (0.1 %), Communication, and Education maintained its previous month's rates at zero percent.
With all the observed price changes in CPI, the Purchasing Power of Peso in Bicol Region remained at 0.74. Albay stood at 0.73, Camarines Norte and Camarines Sur at 0.72, Catanduanes at 0.74, Masbate at 0.75, and Sorsogon at 0.81.