Eastern Visayas inflation rate declines to 1.8% in September

By PSA-8
November 6, 2020

TACLOBAN CITY – Inflation Rate (IR) in Eastern Visayas declined to 1.8 percent in September 2020. This figure is 0.5 percentage point lower than the 2.3 percent IR recorded in August 2020. The September 2020 IR of the region, however, is higher by 1.9 percentage points compared with the 0.1 percent deflation in the same period last year.

The regional IR is 0.5 percentage point lower than the 2.3 percent national average in September 2020.

Among provinces, Samar posted the highest IR in September 2020 at 5.3 percent. This figure is 1.0 percentage point higher compared with its 4.3 percent IR in August 2020. Southern Leyte and Eastern Samar also recorded increases by 0.1 percentage point, resulting to an IR of 3.1 percent and 1.6 percent, respectively.

Leyte retained its previous month’s IR of 1.3 percent.

Alcoholic beverages and tobacco commodity group continued to post the highest IR at 7.6 percent in September 2020, followed by restaurant, miscellaneous goods and services at 4.7 percent.

Of the 11 commodity groups in the region, four (4) commodity groups exhibited lower IRs in September 2020 compared with their figures in 2020. The commodity group for housing, water, electricity, gas and other fuels declined by 2.2 percentage points from 1.5 percent IR in August 2020 to 0.7 percent deflation in September 2020. This can be traced to the continued decline in the index for electricity, gas and other fuels from 0.7 deflation in August 2020 to 6.8 percent deflation in September 2020.

The IR for furnishing, household equipment and routine maintenance declined by 0.5 percentage point from 3.2 percent in August 2020 to 2.7 percent in September 2020.

Compared with their figures in August 2020, the IRs for both clothing and footwear commodity group and health commodity group decreased by 0.2 percentage point settling down to 3.1 percent and 1.0 percent, respectively, in September 2020.

On the other hand, four (4) other commodity groups exhibited higher IRs in September 2020 compared with their rates in August 2020. Transport commodity group posted the highest increase of 2.2. percentage points, from 0.5 percent in August 2020 to 2.7 percent in September 2020. This can be attributed to the 4.7 percentage points increase in the index for transport services, from 1.4 percent in August 2020 to 6.1 percent in September 2020.

The IR for education commodity group went up to 0.4 percent in September 2020 from zero IR in the previous month. This increase is due to the 1.4 percent increase in the index for pre-primary and primary education.

The IR for restaurant and miscellaneous goods and services commodity group rose to 4.7 percent in September 2020, higher by 0.3 percentage point compared with the 4.4 percent IR a month ago. This can be attributed to the 0.3 percentage point increase for both indices of catering services and personal care.

The index for recreation and culture commodity group inched up by 0.1 percentage point, from 2.0 percent deflation in August 2020 to 1.9 percent deflation in September 2020.

Alcoholic beverages and tobacco, and food and non-alcoholic beverages commodity groups retained their previous month’s IRs at 7.6 percent and 2.2 percent respectively. Meanwhile, communication commodity group retained its previous month’s deflation at 1.7 percent.

The Purchasing Power of Peso (PPP) of the region remained at P0.79 in September 2020. This PPP implies that the goods and services worth P79.00 in 2012 is worth P100.00 in September 2020.

PPP in Northern Samar strengthened by P0.01 compared with its figure in August 2020. Biliran weakened by P0.01, while the rest of the provinces retained their previous month’s PPP.

Biliran recorded the strongest PPP at P0.82. Leyte ranked second at P0.81, followed by Southern Leyte at P0.80, Eastern Samar at P0.77 and Northern Samar at P0.74. Samar posted the weakest PPP at P0.73.