closes 2019 with 1.5% inflation rate
January 14, 2020
TACLOBAN CITY –
Eastern Visayas closed 2019 with a 1.5 percent Inflation Rate (IR).
This IR is 0.9 percentage point higher compared with the 0.6 percent
IR a month ago, but 2.9 percentage points lower than the recorded
4.4 percent IR in the same period last year.
The regional IR is 1.0
percentage point lower than the 2.5 percent national average
inflation rate in December 2019.
All provinces in the
region registered higher inflation rates in December 2019 compared
with their figures in the previous month. Biliran recorded the
highest increase of 2.2 percentage points, from 1.5 percent
deflation in November 2019 to 0.7 percent IR in December 2019. The
rest of the provinces registered increases ranging from 0.2
percentage point to 1.8 percentage points. Southern Leyte posted the
lowest IR with 1.2 percent deflation. Leyte, meanwhile, recorded the
highest IR during the month in review at 2.1 percent.
Four commodity groups in
the region exhibited higher IRs in December 2019 compared with their
rates in November 2019. Transport commodity group registered the
biggest increase of 3.1 percentage points, from 1.0 percent in
November 2019 to 4.1 percent in December 2019. This can be
attributed to the significant increase in the index for operation of
personal transport equipment to a double-digit inflation rate of
10.5 percent in December 2019 from 0.2 percent in November 2019.
The heavily weighted food
and non-alcoholic beverages commodity group rebounded to 0.2 percent
in December 2019 from 1.0 percent deflation in November 2019. Lower
IRs noted in fruits; oils and fats; non-alcoholic beverages; meat;
and sugar, jam, honey, chocolate and confectionery were offset by
the higher annual price increases in vegetables; fish; food products
not elsewhere classified; and milk, cheese and eggs. Vegetables
index registered the highest increase of 2.8 percentage points, from
3.1 percent in November 2019 to 5.9 percent in December 2019. Rice
and bread and cereals indices continued to register deflations but
at slower rate of 6.2 percent and 4.6 percent, respectively.
electricity, gas and other fuels commodity group rebounded by 0.2
percent in December 2019 from its 0.8 percent deflation in November
Alcoholic beverages and
tobacco commodity group inched up by 0.1 percentage points pushing
its inflation rate to 7.2 percent during the month in review.
On the other hand,
inflation rate for health commodity group decreased by 1.3
percentage points, from 2.9 percent in November 2019 to 1.6 percent
in December 2019. This can be attributed to the lower inflation rate
on hospital services, from 3.5 percent in November 2019 to 0.6
percent in December 2019.
IRs for the commodity
groups of furnishings, household equipment and routine maintenance
of the house, and clothing and footwear also exhibited decreases
during the reference month at 5.7 percent and 3.1 percent,
recreation and culture; education; and restaurant and miscellaneous
goods and services commodity groups retained their previous month’s
The Purchasing Power of
Peso (PPP) of the region remained at P0.80 in December 2019. This
PPP implies that goods and services worth P80.00 in 2012 is already
worth P100.00 in December 2019.
Southern Leyte posted a
P0.01 increase in PPP compared with its figure in November 2019,
while Biliran and Eastern Samar’s PPP weakened by P0.01. The rest of
the provinces sustained their PPP last month. Southern Leyte
recorded the strongest PPP at P0.83. Biliran and Leyte ranked second
at P0.82, followed by Eastern Samar at P0.76. Northern Samar and
Samar posted the weakest PPP at P0.75.