Inflation rate in
Eastern Visayas eases to a record low in June at 1.5%
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July 12, 2019
TACLOBAN CITY – The
Inflation Rate (IR) in Eastern Visayas continued to decline to 1.5
percent in June 2019, the lowest since June 2018. This figure is 0.1
percentage point lower compared with the 1.6 percent IR a month ago,
and 4.8 percentage points lower compared with the 6.3 percent IR
recorded in the same period last year. The regional inflation rate
is 1.2 percentage points lower than the 2.7 percent national average
in June 2019.
The provinces of Eastern
Samar, Leyte, Northern Samar and Southern Leyte registered lower IRs
in June 2019 compared with their figures in the previous month.
Northern Samar recorded the biggest drop of 1.3 percentage points,
from 1.2 percent in May 2019 to -0.1 percent in June 2019. On the
other hand, Biliran registered a 3.1 percentage points increase in
IR, from -2.9 percent in May 2019 to 0.2 percent during the
reference month. Samar also inched up to -0.1 percent in June 2019
from its -0.2 percent IR a month ago. Among the provinces, Northern
Samar and Samar posted the lowest with negative IR at 0.1 percent,
while Leyte recorded the highest IR during the month in review at
3.2 percent (Table 1).
Majority of the commodity
groups in the region exhibited faster IR in June 2019 compared with
their rates in May 2019. These were however offset by the decreases
recorded in transport, food and non-alcoholic beverages, and health
Transport commodity group
registered the biggest drop of 2.2 percentage points, from 5.9
percent in May 2019 to 3.7 percent during the month in review.
The heavily weighted food
and non-alcoholic beverages declined by 0.8 percentage point to 1.5
percent in June 2019 from its previous month’s rate of 2.3 percent.
Lower IRs were noted in majority of the items. Fish registered the
highest decrease of 2.9 percentage points, from 5.6 percent in May
2019 to 2.7 percent in June 2019. Fruits and rice indices continued
to register negative IRs at 6.5 percent and 2.3 percent,
Health commodity group
eased down slightly to 3.5 percent during the reference from 3.6
percent in May 2019.
Meanwhile, the commodity
group of housing, water, electricity, gas and other fuels increased
to 1.1 percent during the month in review, 2.2 percentage points
higher compared with the -1.1 percent IR in May 2019. This can be
traced to higher IRs in the indices for actual rentals for housing;
maintenance and repair of the dwelling; and electricity, gas and
IR for restaurant and
miscellaneous goods and services commodity group went up to 3.2
percent in June 2019 from 2.3 percent in May 2019. Similarly, IR for
clothing and footwear commodity group and communication commodity
group increased by 0.6 percentage point each, pushing their IRs to
3.2 percent and 0.9 percent, respectively, during the month in
Increased IRs were also
noted in the commodity groups for furnishings, household equipment
and routine maintenance of the house; alcoholic beverages and
tobacco; and recreation and culture recording IRs of 6.1 percent,
4.1 percent, and 4.0 percent, respectively.
The Purchasing Power of
Peso (PPP) of the region remained at P0.80 in June 2019. This PPP
implies that P100.00 in 2012 (base year) is worth P80.00 only in
Biliran posted a P0.03
decrease in PPP compared with its figure in May 2019, while Samar’s
PPP weakened by P0.01. The rest of the provinces sustained their PPP
last month. Southern Leyte recorded the strongest PPP at P0.82.
Biliran and Leyte ranked second at P0.81, followed by Eastern Samar
at P0.79. Northern Samar and Samar posted the weakest PPP at P0.76.