closes 2018 with 4.4% inflation rate
January 15, 2019
TACLOBAN CITY –
Eastern Visayas closed 2018 with a 4.4% Inflation Rate (IR). This IR
is 0.8 percentage point lower compared with the 5.2% IR a month ago,
but 1.1 percentage points higher than the recorded 3.3% IR in the
same period last year. The regional inflation rate was 0.7
percentage point lower than the 5.1% national average in December
All provinces registered
lower inflation rates in December 2018 compared with their figures
in the previous month. Samar posted the highest decrease at 1.8
percentage points, from 7.4% in November 2018 to 5.6% in December
2018. The rest of the provinces registered decreases ranging from
0.2 to 1.6 percentage points. Eastern Samar recorded the highest IR
at 7.6%, while Biliran posted the lowest at 1.7%.
Among the commodity
groups, transport registered the highest decrease of 3.7 percentage
points. It was posted at 3.0% in December 2018 from 6.7% in November
2018. This can be attributed to the huge decrease in the index of
operation of personal transport equipment.
The heavily weighted food
and non-alcoholic beverages eased down to 6.0% in December 2018 from
its previous month’s rate of 7.4%, a decrease of 1.4 percentage
points. This can be traced to slower price increases of majority of
the food items. Rice index registered the highest decrease at 3.2
percentage points, from 8.4% in November 2018 to 5.2% in December
2018. Fish index continued to have a double digit inflation rate at
10.2%, despite shedding off 2.0 percentage points from its figure a
month ago. It also posted the highest among all food items.
Inflation rate for
alcoholic beverages and tobacco also went down by 0.2 percentage
point but still recorded double digit IR at 20.4%, the highest among
Meanwhile, health index
increased to 3.7% during the reference month, 1.3 percentage points
higher compared with the 2.4% IR in November 2018. This can be
attributed to the increase in the index for hospital services.
The Purchasing Power of
Peso (PPP) of the region was recorded at P0.81 in December 2018,
slightly stronger than the P0.80 PPP a month ago. This PPP implies
that goods and services worth 100 pesos in December 2018 only costs
81 pesos in 2012.
Biliran, Northern Samar
and Samar registered a 0.01 centavo increase in PPP compared with
their figures in November 2018, while the rest of the provinces had
retained their previous month’s PPP. Leyte and Biliran recorded the
strongest PPP at P0.83. Southern Leyte ranked second at P0.81,
followed by Eastern Samar at P0.78. Northern Samar and Samar posted
the weakest PPP at P0.76.