Inflation rate in
Eastern Visayas escalates to 4.0% in October 2021
November 25, 2021
TACLOBAN CITY Ė
Inflation Rate (IR) in Eastern Visayas escalated further to 4.0
percent in October 2021. This IR is 0.3 percentage point higher
compared with the 3.7 percent IR in September 2021. This October IR
of the region is also 2.1 percentage points higher than the recorded
1.9 percent IR in the same period last year.
In comparison with the
national average IR, the regional IR is lower by 0.6 percentage
point than the 4.6 percent national IR in October 2021.
Among the provinces, Samar
posted the highest IR at 6.4 percent in October 2021. Eastern
Samarís IR came next at 5.1 percent, then Biliran at 4.9 percent.
The lowest IR was noted in Leyte at 2.9 percent. The provinces of
Samar, Northern Samar, Leyte, and Southern Leyte exhibited higher
IRs in October 2021 compared with their figures in September 2021.
Samar, Northern Samar, and
Leyte all recorded 0.5 percentage point growth registering IRs at
6.4 percent, 3.8 percent, and 2.9 percent, respectively, in October
2021. IR in Southern Leyte inched up by 0.2 percentage point pushing
its IR to 3.5 percent in October 2021. On the other hand, Biliran
recorded a 0.4 percentage point decrease, bringing its IR down to
4.9 percent in October 2021 from 5.3 percent in September 2021.
Eastern Samarís IR eased by 0.1 percentage point, settling at 5.1
percent in October 2021.
The 0.3 percentage point
increase in IR of the region was brought about by IRs of the
transport commodity group and food and non-alcoholic beverages
commodity group, which posted increases of 1.2 percentage points and
0.7 percentage point from their IRs in September 2021, registering
7.6 percent and 4.0 percent IRs in October 2021. The commodity
groups of clothing and footwear; recreation and culture; restaurant
and miscellaneous goods and services; health; and communication
retained their September 2021 IRs of 1.6 percent, 1.5 percent, 1.2
percent, 1.1 percent and 0.9 percent, respectively. All other
commodity groups showed declines in IRs.
The transport commodity
group posted the highest IR in October 2021 at 7.6 percent. This was
followed by IRs of housing, water, electricity, gas, and other fuels
commodity group (6.6%), and alcoholic beverages and tobacco
commodity group (6.3%). All the other commodity groups have IRs
equal or lower than the IR for all items recorded at 4.0 percent.
The furnishings, household
equipment, and routine maintenance of the house commodity group
registered the biggest decrease in IR by 0.6 percentage points. Its
IR settled at 0.8 percent in October 2021 from its 1.4 percent in
September 2021. This can be traced to lower IRs in the indices of
household appliances (0.4%); tools and equipment for house and
garden (0.5%); goods and services for routine household maintenance
(1.0%); glassware, tableware, and household utensils (1.1%); and
furniture and furnishings, carpets and other floor covering (0.5%).
The IR for the alcoholic
beverages and tobacco commodity group managed to shed off 0.4
percentage point from its 6.7 percent IR in September 2021,
registering 6.3 percent IR in October 2021. Compared with their
September 2021 levels, IRs for housing, water, electricity, gas, and
other fuels (6.6%) and education commodity group (0.1%) both
declined by 0.1 percentage point in October 2021.
On the other hand,
transport commodity groupís IR increased to 7.6 percent in October
2021 from 6.4 percent in September 2021, recording a growth of 1.2
percentage points. This faster pace in IR was brought about by the
higher double-digit IR in the index of operation of personal
transport equipment at 22.2 percent.
Food and non-alcoholic
beverages commodity group registered a 0.7 percentage point increase
in IR, from 3.3 percent in September 2021 to 4.0 percent in October
2021. Higher IRs were noted in majority of the items under this
commodity group. Fish index registered the highest increase of 2.2
percentage points, from 9.4 percent IR in September 2021 to a
double-digit IR of 11.6 percent IR in October 2021. Meat index
continued to register a double-digit IR at a faster rate of 11.6
percent in October 2021. Prices for vegetables picked-up posting
double-digit IR of 10.7 IR in October 2021.
Faster price increases
were also noted in the indices of fruits (4.9%) and non-alcoholic
beverages (0.3%). The indices of rice, and bread and cereals
continued to register deflations but at slower rates of 1.5 percent
and 1.2 percent, respectively. On the other hand, slower IRs were
exhibited in the indices of food products not elsewhere classified
(3.7%); sugar, jam, honey, chocolate, and confectionery (1.8%); and
oils and fats(1.6%). Corn index further deflated to 1.8 percent.
Meanwhile, the index for milk, cheese, and eggs retained its
previous monthís IR at 1.3 percent.
The Purchasing Power of
Peso (PPP) of the region remained at P0.76 in October 2021. This PPP
implies that the goods and services worth P76.00 in 2012 is now
worth P100.00 in October 2021.
All provinces also
retained their previous monthís PPP. Leyte recorded the strongest
PPP at P0.79. Biliran ranked second at P0.78, followed by Southern
Leyte at P0.77, Eastern Samar at P0.73, and Northern Samar at P0.71.
Samar posted the weakest PPP during the reference month at P0.69.