inflation rate accelerates further by 5.7% in March
April 17, 2018
TACLOBAN CITY – The
annual Inflation Rate (IR) of Eastern Visayas accelerated further by
5.7% in March 2018. This IR was 1.4 percentage point faster compared
to the 4.3% IR a month ago, and 2.8 percentage points faster than
the recorded 2.9% IR in the same period last year. The regional
inflation rate was 1.4 percentage point faster than the 4.3%
national average in March.
Four provinces in the
region – Biliran, Samar, Leyte, and Eastern Samar posted faster
inflation rates in March compared with their figures in the previous
month. On the other hand, Southern Leyte registered decreased IR,
while Northern Samar had sustained its inflation rate from February.
Northern Samar registered the highest IR at 7.1%, while Southern
Leyte posted the lowest IR at 0.9% (Table 1).
By major commodity groups,
Alcoholic Beverages and Tobacco, Housing, Water, Electricity, Gas
and Other Fuels, Food and Non-Alcoholic Beverages, Transport,
Furnishings, Household Equipment and Routine Maintenance of the
House, Health, and Education exhibited higher annual growths from
February to March.
Annual price changes in
Clothing and Footwear slowed down from February to March. The rest
of the commodity groups retained their previous month’s rates.
The Purchasing Power of
Peso (PPP) of the region was recorded at P0.82 in March 2018. This
is weaker compared with the P0.83 PPP registered in the previous
month. This PPP implies that goods and services worth 100 pesos in
March 2018 only costs 82 pesos in 2012.
Biliran, Leyte, and Samar
registered decreases in PPP compared with their figures in February.
Southern Leyte recorded a 0.01 centavo increase in PPP, while the
rest of the provinces had sustained PPP. Leyte recorded the
strongest PPP at P0.85, followed by Southern Leyte at P0.84.
Northern Samar and Samar, meanwhile, posted the weakest PPP at P0.77