Inflation rate in
Eastern Visayas increases further to 6.5% in September 2018
October 16, 2018
TACLOBAN CITY – The
Inflation Rate (IR) of Eastern Visayas continued to increase at 6.5%
in September 2018. This IR was 0.4 percentage point higher compared
with the 6.1% IR a month ago, and 3.0 percentage points higher than
the recorded 3.5% IR in the same period last year. The regional
inflation rate was 0.2 percentage point lower than the 6.7% national
average in September 2018.
Southern Leyte, recorded
the highest increase of 1.4 percentage points, from 1.8% in August
2018 to 3.2% in September 2018. It is still, however, the lowest IR
among the provinces during the reference period. Eastern Samar, on
the other hand, posted the highest IR at 8.9% (Table 1).
Among commodity groups,
housing, water, electricity, gas and other fuels registered the
highest increase of 0.8 percentage points. It was posted at 6.1% in
September 2018 from 5.3% in August 2018. This can be attributed to
the huge increase in the index of water supply and miscellaneous
services relating to the dwelling.
The heavily weighted food
and non-alcoholic beverages went up to 9.2% in September 2018 from
its previous month’s rate of 8.6%, an increase of 0.6 percentage
point. This can be traced to faster price increases of corn, rice,
non-alcoholic beverages, meat, and sugar, jam, honey, chocolate and
confectionery products (Table 2).
Inflation rate for
furnishings, household equipment and routine maintenance of the
house slowed down to 2.6% during the reference month, 1.2 percentage
point lower compared with the 3.8% IR in August 2018. Similarly,
alcoholic beverages and tobacco went down by 0.6 percentage point
but still recorded a double digit IR at 21.2%, the highest among all
communication, meanwhile, retained their previous month’s rate of
-16.2% and 0.3%, respectively.
The Purchasing Power of
Peso (PPP) of the region was recorded at P0.80 in September 2018.
This PPP implies that goods and services worth 100 pesos in
September 2018 only costs 80 pesos in 2012.
Southern Leyte registered
a minimal decrease of 0.02 centavo in its PPP in September 2018
compared with its P0.83 PPP a month ago. Eastern Samar, Leyte and
Samar each recorded a 0.01 centavo decrease in PPP from August 2018
to September 2018, while the rest of the provinces sustained their
PPP from last month. Leyte recorded the strongest PPP at P0.83 while
Northern Samar and Samar posted the weakest PPP at P0.75.