Almost all commodity groups posted decline in inflation rates, resulting to the overall level to drop, to wit: Food, Beverages and Tobacco (1.8 percentage points), Services (0.9 percentage point), Fuel, Light and Water (0.6 percentage point) and Housing and Repairs and Miscellaneous (0.1 percentage point each). Clothing remained unchanged from its previous month's level. Majority of the food items included in the region's market basket had lower inflation rates pulling the overall inflation of the Food group, the biggest component of the region's consumer basket to dip. The rise in prices of rice, cereals, corn, meat, cereal preparations and miscellaneous foods slowed down, contributing to the overall level of the food group.

Slower increases were observed in the prices of consumer goods as reflected in the monthly Consumer Price Index (CPI) of 159.0, up by a mere 0.1 point from last month's index. Fuel, Light and Water went up by 1.1 points, Services by 0.2 point and Clothing, Housing and Repairs and Miscellaneous commodity groups with 0.1 point apiece. Food, Beverages and Tobacco dipped by 0.1 point.

Consumer Price Index and Inflation Rate by Commodity Group
Region V: May and April 2009
(2000=100)

On a month-on-month basis, average inflation rate in the Bicol Region increased by 0.2 percentage point, settling at 0.1 percent, from a negative inflation last month. Posting higher inflation rates were: Fuel, Light and Water (1.1 percentage points), Food, Beverages and Tobacco (0.2 percentage point) and Housing and Repairs (0.1 percentage point). Services fell by 0.4 percentage point and Clothing and Miscellaneous commodity groups dropped by 0.1 percentage point each.

The purchasing power of the peso in Bicol Region remained at 63 centavos in May 2009 from P1.00 in 2000.

Source of basic data: National Statistics Office

Date Posted: June 11, 2009