By Marlon A. Loterte
LEGAZPI CITY, July 26 (PIA) -- The annual inflation rate of the Bicol region rose further in June after posting its lowest level for the year two months ago, according to National Statistical Coordination Board (NSCB).
In a recent report of the NSCB, the year-on-year change was placed at 3.5 percent, 0.2 percentage point higher than the previous month.
NSCB reported that this month's level is well above the 2.6 percent posted in the same period last year and 0.7 percentage point higher than the national average.
The same report furthered that inflation rates in four of the eleven commodity groups registered increases.
Among those that registered faster inflation rates for the month were: Transport (0.6 percentage point), Housing, Water, Electricity, Gas, and other Fuels and Recreation and Culture (0.5 percentage point apiece) and Alcoholic Beverages and Tobacco (0.2 percentage point).
Inflation rates in most of the commodity groups dropped, but these were not enough to pull the overall level of inflation as oil prices were still high.
Inflation rate in the food group, which accounts for about half of the basket of goods and services in the Consumer Price Index, sustained its previous month's level.
Average prices of consumer goods went up as reflected in the region's average monthly Consumer Price Index (CPI) of 136.7, a 0.8-point increment from its index in May.
Indices in all commodity groups had varying increases: Education (4.2 points), Food and Non-Alcoholic Beverages (1.1 points), Alcoholic Beverages and Tobacco (1.0 point), Recreation and Culture (0.8 point), Transport (0.3 point), Housing, Water, Electricity, Gas, and other Fuels (0.2 point) and the rest of the commodity groups with 0.1 point increment each. Communication stayed at its previous month's level.
On a month-on-month basis, average inflation rate for the Bicol Region grew by 0.5 percentage point.
Higher inflation rates were noted in Education (3.1 percentage point), Food group (0.8 percentage point), Recreation and Culture (0.6 percentage point), Transport (0.2 percentage point) and Furnishing, Household Equipment and Routine Maintenance of the House (0.1 percentage point).
Five commodity groups posted decline in inflation rates for the month while Communication remained unchanged.
Alcoholic Beverages and Tobacco slipped by 0.2 percentage point while Clothing and Footwear and Housing, Water, Electricity, Gas, and other Fuels fell by a minimal 0.1 percentage point apiece.
The purchasing power of the peso in Bicol Region dropped to 73 centavos in June 2013 from P1.00 in 2006.
Across regions, Region IV-B (MIMAROPA) posted the lowest at 1.5 percent while Region X (Northern Mindanao) registered the highest at 4.3 percent. Regional inflation rate for the first half of the year averaged at 3.3 percent. (MAL/NSCB/PIA5/Albay)
LEGAZPI CITY, July 26 (PIA) -- The annual inflation rate of the Bicol region rose further in June after posting its lowest level for the year two months ago, according to National Statistical Coordination Board (NSCB).
In a recent report of the NSCB, the year-on-year change was placed at 3.5 percent, 0.2 percentage point higher than the previous month.
NSCB reported that this month's level is well above the 2.6 percent posted in the same period last year and 0.7 percentage point higher than the national average.
The same report furthered that inflation rates in four of the eleven commodity groups registered increases.
Among those that registered faster inflation rates for the month were: Transport (0.6 percentage point), Housing, Water, Electricity, Gas, and other Fuels and Recreation and Culture (0.5 percentage point apiece) and Alcoholic Beverages and Tobacco (0.2 percentage point).
Inflation rates in most of the commodity groups dropped, but these were not enough to pull the overall level of inflation as oil prices were still high.
Inflation rate in the food group, which accounts for about half of the basket of goods and services in the Consumer Price Index, sustained its previous month's level.
Average prices of consumer goods went up as reflected in the region's average monthly Consumer Price Index (CPI) of 136.7, a 0.8-point increment from its index in May.
Indices in all commodity groups had varying increases: Education (4.2 points), Food and Non-Alcoholic Beverages (1.1 points), Alcoholic Beverages and Tobacco (1.0 point), Recreation and Culture (0.8 point), Transport (0.3 point), Housing, Water, Electricity, Gas, and other Fuels (0.2 point) and the rest of the commodity groups with 0.1 point increment each. Communication stayed at its previous month's level.
On a month-on-month basis, average inflation rate for the Bicol Region grew by 0.5 percentage point.
Higher inflation rates were noted in Education (3.1 percentage point), Food group (0.8 percentage point), Recreation and Culture (0.6 percentage point), Transport (0.2 percentage point) and Furnishing, Household Equipment and Routine Maintenance of the House (0.1 percentage point).
Five commodity groups posted decline in inflation rates for the month while Communication remained unchanged.
Alcoholic Beverages and Tobacco slipped by 0.2 percentage point while Clothing and Footwear and Housing, Water, Electricity, Gas, and other Fuels fell by a minimal 0.1 percentage point apiece.
The purchasing power of the peso in Bicol Region dropped to 73 centavos in June 2013 from P1.00 in 2006.
Across regions, Region IV-B (MIMAROPA) posted the lowest at 1.5 percent while Region X (Northern Mindanao) registered the highest at 4.3 percent. Regional inflation rate for the first half of the year averaged at 3.3 percent. (MAL/NSCB/PIA5/Albay)
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