Eastern Visayas posts 3.2% inflation rate in July 2021

By PSA-8
August 17, 2021

TACLOBAN CITY – Eastern Visayas posted to 3.2 percent Inflation Rate (IR) in July 2021. This IR is 0.1 percentage point lower compared with the 3.3 percent IR in June 2021. This July IR of the region is 1.5 percentage points higher than the recorded 1.7 percent IR in the same period last year.

In comparison with the national average IR, the regional IR is 0.8 percentage point lower than the 4.0 percent national IR in July 2021.

Among the provinces, Samar posted the highest IR at 6.9 percent in July 2021. Eastern Samar’s IR came next at 6.1 percent, then Biliran at 4.5 percent. The lowest IR was noted in Northern Samar at 1.5 percent. Northern Samar, Samar, Eastern Samar, and Southern Leyte registered lower IRs in July 2021 compared with their figures in June 2021. Northern Samar recorded the highest decrease in IR at 1.6 percentage points, bringing its IR down to 1.5 percent in July 2021 from 3.1 percent in June 2021.

Samar’s IR declined to 6.9 percent in July 2021, while Eastern Samar and Southern Leyte managed to lower their IRs to 6.1 percent and 2.9 percent, respectively in July 2021. On the other hand, the provinces of Leyte and Biliran recorded increases in their IRs in July 2021 by 0.4 percentage point and 0.1 percentage point, respectively. Leyte grew to 1.7 percent, while Biliran inched up to 4.5 percent in July 2021.

Transport commodity group continued to post the highest IR at 10.3 percent. This was followed by alcoholic beverages and tobacco commodity group, and housing, water, electricity, gas and other fuels commodity group with IRs at 7.3 percent and 3.6 percent, respectively. All the other commodity groups have IR lower than the IR for all items recorded at 3.2 percent.

Five (5) of the 11 commodity groups in the region exhibited lower IRs in July 2021 compared with their rates in June 2021. The transport commodity group registered the biggest decrease in IR by 1.2 percentage points from its 11.5 percent IR in June 2021. It still, however, registered a double-digit IR of 10.3 percent in July 2021.

The IR for furnishings, household equipment, and routine maintenance of the house commodity group managed to shed off 0.5 percentage point, from 2.9 percent in June 2021 to 2.4 percent in July 2021.

Restaurants and miscellaneous goods and services commodity group recorded 0.4 percentage point decrease in its IR settling at 2.5 percent in July 2021.

Food and non-alcoholic beverages commodity group registered a slight decrease in IR by 0.2 percentage point, from 2.8 percent in June 2021 to 2.6 percent in July 2021. Lower IRs were noted in majority of the items under this commodity group. Fish index registered the highest decrease of 1.6 percentage points, from 9.1 percent IR in June 2021 to 7.5 percent IR in July 2021. The IR for food products not elsewhere classified declined by 1.1 percentage point from its 4.1 percent IR in June 2021, posting 3.0 percent IR in July 2021. Slower price increases were also noted in the indices for sugar, jam, honey, chocolate, and confectionery (1.8%); vegetables (1.6%); and milk, cheese, and eggs (1.3%).

Meanwhile, fruits index registered the highest increase of 3.4 percentage points, from 0.8 percent deflation in June 2021 to 2.6 percent IR in July 2021. Prices of meat picked up at a faster rate registering a double-digit IR of 10.3 percent in July 2021 from 9.6 percent in June 2021. Faster price increase was also noted in index for oils and fats at 2.2 percent during the month in review. Rice and corn further deflated to 1.4 percent. Bread and cereals likewise continued to register price drop-offs at 0.9 percent. Non-alcoholic beverages retained its previous month’s IR at 0.6 percent.

Recreation and culture commodity group further deflated to 1.6 percent in July 2021 from 1.5 percent deflation in June 2021.

On the other hand, alcoholic beverages and tobacco commodity group recorded 7.3 percent IR in July 2021, higher by 0.5 percentage point from the 6.8 percent IR in June 2021. This growth can be attributed to higher IR in the indices for both alcoholic beverages (5.6%) and tobacco (8.3%).

The IR for housing, water, electricity, gas, and other fuels commodity group and health commodity group picked up by 0.3 percentage point, pushing its IR to 3.6 percent in July 2021.

Compared with their June 2021 levels, IRs for clothing and footwear commodity group (2.2%) and health commodity group (2.0%) were higher by 0.2 percentage point and 0.1 percentage point, respectively in July 2021.

The commodity groups of communication and education, meanwhile, retained their previous month’s IRs at 1.0 percent and 0.5 percent, respectively.

The Purchasing Power of Peso (PPP) of the region remained at P0.76 in July 2021. This PPP implies that the goods and services worth P76.00 in 2012 is now worth P100.00 in July 2021.

Compared with their levels in June 2021, PPP in Biliran and Northern Samar strengthened by P0.01, while PPP in Leyte weakened by P0.01. The rest of the provinces retained their previous month’s PPP. Biliran recorded the strongest PPP among provinces in July 2021 at P0.80. Leyte ranked second at P0.79, followed by Southern Leyte at P0.78, Eastern Samar at P0.73, and Northern Samar at P0.72. Samar posted the weakest PPP during the reference month at P0.69.