about us | statistical system | products | services | publications | feedback | sitemap | links
   

Stat News

2011 CLOSES WITH A 12-MONTH LOW INFLATION

Bicol Region's annual inflation rate ended the year on a good note as it eased in December to its lowest level in 12 months, falling by 0.8 percentage points over the November 2011 level. The year-on-year change was placed at 3.1 percent, 0.1 percentage point higher than the previous year's level and 0.9 percentage lower than the national average. Bicol Region registered the 4th lowest inflation rate among the regions of the country with Region IVB (MIMAROPA) posting the lowest at 2.8 percent while Region X (Northern Mindanao) recorded the highest inflation rate at 7.6 percent. The full-year inflation rate averaged 3.6 percent, 0.4 percentage point lower compared to 2010. 


All commodity groups registered lower inflation rates for the month, brought about by general downward adjustments in the prices of gasoline and diesel nationwide. Fuel, Light and Water fell by a chunky 4.8 percentage points, the heavily-weighted Food, Beverages and Tobacco dipped 0.6 percentage point, Services declined by 0.5 percentage point and Clothing and Miscellaneous commodity groups dropped by 0.1 percentage point apiece. Housing and Repairs remained unchanged from its previous month's level. Lower prices of some food items in the region's market basket such as fish and fruits and vegetables contributed to the overall drop in the food group, the biggest component of the region's consumer basket.

The region's average monthly Consumer Price Index (CPI) was placed at 174.6, up by 0.1 point from last month's index. Indices in most commodity groups went up led by the Fuel, Light and Water commodity group with a 2.7-point increase and Miscellaneous and Clothing commodity groups adding 0.1 point apiece. Food, Beverages and Tobacco and Services commodity groups managed to decline by 0.2 and 0.3 point each, respectively. Housing and Repairs sustained its index the previous month.

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

Commodity Group CPI Inflation Rate*
December November December November
  All Items 174.6 174.5r 3.1 3.9r
  Food, Beverages & Tobacco 175.9 176.1 3.4 4.0
  Clothing 138.3 138.2 1.5 1.6
  Housing & Repairs 151.1 151.1 1.2 1.2
  Fuel, Light and Water 219.0 216.3 3.9 8.7r
  Services 198.9 199.2 3.6 4.1
  Miscellaneous 137.1 137.0 1.7 1.8
* - year-on-year change             

On a month-on-month basis, average inflation rate in the Bicol Region managed to drop by 0.4 percentage point. Decline in inflation rates were registered for the following commodity groups: Fuel, Light and Water (1.0 percentage point), Food group (0.6 percentage point), Services (0.3 percentage point) and Housing and Repairs (0.1 percentage point). The previous month's level in the inflation rates of Clothing and Miscellaneous commodity groups were sustained.

The purchasing power of the peso in Bicol Region remained at 57 centavos in December 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: January 10, 2012
 
  to topRelated Links >>>  Technical Notes | Glossary of Terms
       
  NSCB Logo

 For comments and suggestions, e-mail the webmaster
© 1997-2012 NSCB-Regional Division V, Legazpi City, Philippines

 
Terms of Use