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BICOL'S SEPTEMBER INFLATION INCHES UP

Annual inflation rate in the Bicol Region slightly accelerated in September posting a 0.1 percentage point increment over the August 2011 level. The year-on-year change was placed at 3.6 percent, 0.1 percentage point lower for the same month last year and 1.0 percentage point less than the national average. Bicol Region recorded the 3rd lowest inflation rate among the regions of the country with Region X (Northern Mindanao) having the highest (6.9 percent) and Region IV-B (MIMAROPA) posting the lowest (3.3 percent). The nine-month regional average is at 3.6 percent.

 
Three of the six commodity groups registered increases, resulting to the current level of inflation lead by the Food group, the biggest component of the region's consumer basket. The month saw increases in inflation rates for eight out of eleven of the food items included in the region's commodity basket such as rice, fish, fruits and vegetables and meat. Fuel, Light and Water and Services commodity groups each inched up by 0.2 and 0.1 percentage point, respectively. Registering declines were Housing and Repairs and Miscellaneous commodity groups (0.1 percentage point apiece) while inflation rate for Clothing commodity group maintained its previous month's level.
 

Average prices of commodity goods continued to rise as reflected in the region's monthly Consumer Price Index (CPI). Rise in indices in most of the commodity groups were observed pushing the overall level higher by 0.2 point, settling at 173.4. Increase in indices ranged from 0.1 point in the Clothing and Miscellaneous commodity groups to 0.5 point in the Food, Beverages and Tobacco commodity group. Fuel, Light and Water and Services commodity groups dropped by 0.3 and 0.2 point, respectively.

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

Commodity Group CPI Inflation Rate*
September August September August
  All Items 173.4 173.2r 3.6 3.5
  Food, Beverages & Tobacco 174.7 174.2 3.4 3.2
  Clothing 138.0 137.9 1.6 1.6
  Housing & Repairs 151.0 151.0 1.1 1.2
  Fuel, Light and Water 213.0 213.3r 10.4 10.2r
  Services 199.0 199.2 4.4 4.3
  Miscellaneous 136.6 136.5 1.8 1.9
* - year-on-year change             

On a month-on-month basis, average inflation rate in the Bicol Region fell slightly by 0.1 percentage point triggered by drops in inflation rates of the Food, Beverages and Tobacco, Housing and Repairs, Services and Miscellaneous commodity groups. Inflation rates in the Clothing and Fuel, Light and Water commodity groups went up by 0.1 and 0.2 percentage point, respectively.

The purchasing power of the peso in Bicol Region remained at 58 centavos in September 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: October 10, 2011
 
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