The Bicol Region’s inflation rate in December 2016 went up at 3.2 percent from 2.5 percent in November 2016. Compared to the -0.5 percent inflation rate in the same period last year, the November 2016 rate was higher by 2.0 percentage point.
The escalation is accredited on the following Commodity/Service groups, Food and Non- Alcoholic Beverages (3.8 percent from 2.3 percent), Housing, water, Electricity, Gas and other Fuels (3.3 percent from 2.7 percent). The biggest decline came from the Service Group which is Transport (1.9 percent from 3.1 percent). Slight decrease also noted on Alcoholic Beverages and Tobacco (3.3 percent from 3.4 percent), Clothing and Footwear (1.7 percent from 1.9 percent), Furnishings, Household Equipment and Routine Maintenance of the House (2.5 percent from 2.4 percent), Health (2.6 percent from 2.8 percent), Recreation and Culture (1.1 percent from 1.0 percent) and Restaurants and Miscellaneous Goods and Services (3.8 percent from 4.3
percent). Non- movers were Communication (0.0 percent) and Education (0.5 percent).
The Bicol Region’s Inflation Rate soared at 3.2 percent from 2.5 percent. The province of Masbate is at all-time high Inflation pegged at 4.4 percent from 3.0 percent. Albay also posted a significant increase (3.7 percent from 2.5 percent). Among other provinces increased inflation were Camarines Norte (3.6 percent from 3.5 percent), Camarines Sur (2.6 perent from 2.0 perent), Catanduanes (2.7 from 2.3 percent). Only Sorsogon retained its Inflation at 2.8 percent.
The Bicol Region’s inflation rate in February 2015 was recorded at 2.5 percent from 3.2 percent in January 2015. Compared to the 5.5 percent inflation rate in the same period last year, the February 2015 rate was lower by 3.0 percentage points.
The heavily weighted Food and Non-Alcoholic Beverages (5.9 percent from 7.1 percent) and the Alcoholic Beverages and Tobacco (3.1 percent from 4.0 percent) exhibited significant decrease in their indexes. Among the non-food groups, the indices that displayed decrements include Health (0.8 percent from 1.1 percent), Recreation and Culture (0.5 percent from 0.7 percent), Restaurants and Miscellaneous Goods and Services (1.9 percent from 2.1 percent), and Furnishings, Household Equipment and Routine Maintenance of the House (2.6 percent from 2.7 percent).
Conversely, a 1.5 percentage points increase was observed in Transport (-1.1 percent from -2.6 percent) and Housing Water, Electricity, Gas and Other Fuels (-4.4 percent from -4.5 percent) slightly edged-up by 0.1 percentage point. Clothing and Footwear and Education maintained its previous month’s rate of 1.2 percent and 3.7 percent, respectively, while price levels for Communication remained steady with no movements from January to February 2015.
Across provinces, decreased inflation rates were felt in five out of six provinces of the region. Sorsogon posted the largest decline at 2.9 percent from 4.4 percent and Masbate with 1.9 percent from 3.3 percent. Only Albay showed an increase in inflation rate by 0.5 percentage point at 4.1 percent from 3.6 percent.