Food items included in the region's commodity basket such as rice, cereals and fruits and vegetables posted higher inflation rates resulting to the 0.1 percentage point acceleration in the food group, the largest item in the region's consumer basket. Miscellaneous commodity group also inched up by a minimal 0.1 percentage point while Fuel, Light and Water and Services commodity groups managed to decline by 0.4 and 0.1 percentage point, respectively. Clothing and Housing and Repairs commodity groups remained unchanged from its level a month ago.
 

Average prices of consumer goods were up as reflected in the 0.3 point rise in the region's average monthly Consumer Price Index (CPI) from 173.4 in September. Indices in most of the commodity groups posted increases: Food, Beverages and Tobacco (0.5 point), Miscellaneous commodity group (0.2 point) and Clothing and Services (0.1 point apiece). Fuel, Light and Water commodity group decelerated by 0.8 point. Housing and Repairs sustained its September level. 

Consumer Price Index and Inflation Rate by Commodity Group
Region V: October and September 2011
(2000=100)

On a month-on-month basis, average inflation rate in the Bicol Region went up by a minimal 0.1 percentage point, settling at 0.2 percent. Four of the six commodity groups retained their previous month's level while Fuel, Light and Water fell by 0.2 percentage point. Services inched up by 0.2 percentage point.

The purchasing power of the peso in Bicol Region remained at 58 centavos in October 2011 from P1.00 in 2000.

Source of basic data: National Statistics Office

Note: Starting June 2011, the NSO will release the rebased CPI series as announced in their press release number 2011-44 dated June 28, 2011. Data users can expect two sets of the CPI as the new series shall be issued simultaneously with the 2000-based series until December 2011. CPI series starting January 2012 shall be 2006-based.

Date Posted: November 9, 2011