Inflation rate in EV increases to 2.5% in April 2020

By PSA-8
May 12, 2020

TACLOBAN CITY – Inflation Rate (IR) in Eastern Visayas increased to 2.5 percent in April 2020. This IR is 0.3 percentage point higher compared with the 2.2 percent IR in March 2020. This is also 0.5 percentage point higher than the recorded 2.0 percent IR in the same period last year.

The regional IR is 0.3 percentage point higher than the 2.2 percent national average inflation rate in April 2020.

Leyte, Eastern Samar, and Samar registered lower inflation rates in April 2020 compared with their figures in March 2020. Leyte recorded the highest decline of 0.8 percentage point. It dropped to 0.8 percent IR in April 2020 from 1.6 percent IR in March 2020. This is the lowest IR among the provinces during the month in review. On the other hand, IR in Northern Samar soared to 9.2 percent in April 2020 from 3.5 percent in March 2020. It accelerated by 5.7 percentage points recording the highest IR among the provinces during the reference month. Southern Leyte’s IR rose to 1.6 percent in April 2020 from 1.4 percent in March 2020. Biliran, meanwhile, retained its previous month’s IR at 1.7 percent.

Of the 11 commodity groups in the region, five (5) exhibited lower IRs in April 2020 compared with their rates in March 2020. These were, however, offset by the higher IRs recorded in other commodity groups; thus, resulting to 0.3 percentage point increase in the overall IR of the region in April 2020.

Transport commodity group registered the biggest decline of 5.2 percentage points. It dropped to 4.3 percent deflation in April 2020 from 0.9 percent IR in March 2020. This can be attributed to the deflations recorded in both operation of personal transport equipment (17.8 percent) and transport services (2.1 percent).

Communication commodity group went down by 2.4 percentage points, from 1.3 percent IR in March 2020 to 1.1 percent deflation in April 2020. This can be traced to the 25.2 percent deflation recorded in the index for telephone and telefax equipment.

The commodity group of furnishings, household equipment and routine maintenance of the house eased down by 1.1 percentage points. It dropped to 3.2 percent in April 2020 from 4.3 percent in March 2020.

Compared with the March 2020 level, the IRs for the commodity groups of alcoholic beverages and tobacco (8.8 percent); restaurant and miscellaneous goods and services (4.9 percent); and health (1.1 percent) were lower by 0.3 percentage point and 0.5 percentage point, respectively.

On the other hand, IR of clothing and footwear commodity group registered the biggest increase of 2.0 percentage points. Its IR rose to 4.9 percent in April 2020 from 2.9 percent in March 2020. This increase can be attributed to the higher inflations recorded in both clothing (4.0 percent) and footwear (6.8 percent) indices in April 2020.

The IR of heavily weighted food and non-alcoholic beverages commodity group increased by 1.3 percentage points. Its IR went up to 3.1 percent in April 2020 from 1.8 percent IR in March 2020. Higher IRs were noted in majority of the items under this commodity group. Non-alcoholic beverages index registered the highest increase of 12.0 percentage points, posting a double-digit IR of 14.0 percent in April 2020 from 2.0 percent IR in March 2020. Vegetables index likewise accelerated to 8.3 percent in April 2020 from 1.5 percent in March 2020. Rice and bread and cereals indices, meanwhile, continued to register deflations but at a slower rate of 4.0 percent and 2.5 percent, respectively.

The IR of recreation and culture commodity group rose to 1.4 percent, higher by 0.5 percentage point compared with its previous month’s IR. While IR for housing, water, electricity gas and other fuels commodity group was posted at 1.4 percent, higher by 1.3 percentage points compared with its March 2020 IR.

Meanwhile, education commodity group retained its previous month’s IR at 5.3 percent.

The Purchasing Power of Peso (PPP) of the region was recorded at P0.78 in April 2020. This is weaker compared with the P0.79 PPP registered in the previous month. This PPP implies that the goods and services worth P78.00 in 2012 is worth P100.00 in April 2020.

Biliran, Eastern Samar and Samar posted a P0.01 increase in their PPP compared with their figures in March 2020. Northern Samar’s PPP, on the other hand, weakened by P0.04. The rest of the provinces sustained their PPP last month. Biliran recorded the strongest PPP at P0.82. Leyte and Southern Leyte ranked second at P0.81, followed by Eastern Samar at P0.77 and Samar at P0.75. Northern Samar posted the weakest PPP at P0.69.