Wednesday, July 28, 2021
Inflation Rate (IR) in Eastern Visayas escalated further to 3.3 percent in June 2021. This IR is 0.2 percentage point higher compared with the 3.1 percent IR in May 2021. This June IR of the region is also 2.2 percentage points higher than the recorded 1.1 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 4.1 percent national IR in June 2021.
Among the provinces, Samar posted the highest IR at 7.8 percent in June 2021. Eastern Samar’s IR came next at 6.5 percent, then Biliran at 4.4 percent. The lowest IR was noted in Leyte at 1.3 percent. Northern Samar, Eastern Samar, and Leyte registered higher IRs in June 2021 compared with their figures in May 2021. Northern Samar recorded the highest increase in IR at 1.5 percentage points, pushing its IR to 3.1 percent in June 2021 from 1.6 percent in May 2021.
Eastern Samar’s IR rose to 6.5 percent in June 2021, recording 1.1 percentage points increase from its 5.4 percent IR in May 2021. Leyte grew by 0.4 percentage point registering 1.3 percent IR in June 2021. On the other hand, the provinces of Biliran, Samar, and Southern Leyte managed to lower their IRs in June by 1.1 percentage points, 0.5 percentage point, and 0.3 percentage point, respectively. Biliran’s IR declined to 4.4 percent in June 2021 from 5.5 percent in May 2021. IR for Samar eased down to 7.8 percent in June 2021 from 8.3 percent in May 2021. Southern Leyte’s IR, meanwhile, settled at 3.0 percent in June 2021, 0.3 percentage point lower compared with its 3.3 percent IR in May 2021.
Transport commodity group continued to post the highest IR at 11.5 percent. The 6.8 percent IR of alcoholic beverages and tobacco commodity group followed. All the other commodity groups have IR equal or lower than the IR for all items recorded at 3.3 percent.
Majority of the 11 commodity groups in the region exhibited higher IRs in June 2021 compared with their rates in May 2021. Food and non-alcoholic beverages commodity group registered the biggest increase in IR by 0.6 percentage point, from 2.2 percent in May 2021 to 2.8 percent in June 2021. Higher IRs were noted in majority of the items under this commodity group. Fish index registered the highest increase of 2.7 percentage points, from 6.4 percent IR in May 2021 to 9.1 percent IR in June 2021. The IR for vegetables index grew by 1.6 percentage points from its 0.3 percent IR in May 2021, posting 1.9 percent IR in June 2021. Prices of meat picked up at a faster rate of 9.6 percent in June 2021 from 8.9 percent in May 2021. Faster price increases were also noted in indices for food products not elsewhere classified (4.1%); sugar, jam, honey, chocolate and confectionery (1.9%); oils and fats (1.8%); and non-alcoholic beverages (0.6%) during the month in review. Corn and fruits continued to register deflations in June 2021 but at a slower rate of 1.3 percent and 0.8 percent, respectively. Meanwhile, IR for milk, cheese, and eggs eased to 2.0 percent in June 2021 from 2.2 percent in May 2021. Rice and bread and cereals further deflated to 1.3 percent and 0.8 percent, respectively.
Communication commodity group recorded 1.0 percent IR in June 2021, higher by 0.3 percentagepoint from the 0.7 percent IR in May 2021. This growth can be attributed to higher IR in the index for telephone and telefax services (0.9%).
The IRs for housing, water, electricity, gas, and other fuels commodity group and health commodity group picked up by 0.2 percentage points, pushing their IRs to 3.3 percent and 1.8 percent, respectively in June 2021.
Compared with their May 2021 levels, IRs for restaurants and miscellaneous goods and services commodity group (2.9%) and clothing and footwear commodity group (2.1%) were both higher by 0.1 percentage point in June 2021.
On the other hand, transport commodity group managed to shed off by 2.2 percentage points from its 13.7 percent IR in May 2021. It still, however, registered a double-digit IR of 11.5 percent in June 2021.
IR for furnishings, household equipment, and routine maintenance of the house commodity group recorded 0.3 percentage point decrease, from 3.2 percent in May 2021 to 2.9 percent in June 2021. IR for alcoholic beverages and tobacco likewise eased by 0.1 percentage point, settling at 6.8 percent in June 2021.
Recreation and culture commodity group further deflated to 1.5 percent in June 2021. While education commodity group retained its previous month’s IR at 0.5 percent The Purchasing Power of Peso (PPP) of the region remained Php 0.76 in June 2021. This PPP implies that the goods and services worth PhP 76.00 in 2012 is now worth PhP 100.00 in June 2021.
All provinces retained their previous month’s PPP. Leyte recorded the strongest PPP among provinces in June 2021 at PhP 0.80. Biliran ranked second at PhP 0.79, followed by Southern Leyte at PhP 0.78, Eastern Samar at PhP 0.73, and Northern Samar at PhP 0.71. Samar posted the weakest PPP during the reference month at PhP 0.69.
Sgd. WILMA A. PERANTE