Tuesday, March 10, 2020
Inflation Rate (IR) in Eastern Visayas eased down to 1.9 percent in February 2019. This IR is 0.1 percentage point lower compared with the 2.0 percent IR in January 2020, and 1.2 percentage points lower than the recorded 3.1 percent IR in the same period last year.
The regional IR is 0.7 percentage point lower than the 2.6 percent national average inflation rate in February 2020.
Leyte, Biliran and Southern Leyte registered lower inflation rates in February 2020 compared with their figures in January 2020. Leyte recorded the highest decrease of 0.6 percentage point, from 2.1 percent IR in January 2020 to 1.5 percent IR in February 2020. On the other hand, Northern Samar registered a 1.4 percentage points increase in IR, from 2.2 percent in January 2020 to 3.6 percent during the reference month. Samar increased by 1.1 percentage point, from 2.0 percent a month ago to 3.6 percent in February 2020. Eastern Samar, meanwhile inched up to 2.3 percent during the month in review from 2.2 percent in January 2020.Southern Leyte posted the lowest IR at 0.7 percent, while Northern Samar recorded the highest IR in February 2020 at 3.6 percent.
Majority of the commodity groups in the region exhibited lower IRs in February 2020 compared with their rates in January 2020. Housing, water, gas, electricity and other fuels commodity group registered the biggest decrease of 1.3 percentage points, from 0.4 percent IR in January 2020 to 0.9 percent deflation in February 2020. This can be attributed to the significant decrease in the index for electricity, gas and other fuels to a double-digit deflation rate of 12.8 percent in February 2020 from 9.9 percent deflation in January 2020.
The commodity groups of clothing and footwear, and health registered 0.4 percentage point decrease in their IRs, posting IRs at 2.8 percent and 1.2 percent, respectively, during the reference month.
Alcoholic beverages and tobacco commodity group eased down by 0.3 percentage point pushing its IR to 8.5 percent in February 2020.
On the other hand, the heavily weighted food and non-alcoholic beverages commodity group increased to 1.6 percent in February 2020 from 1.1 percent IR in January 2020. Higher IRs were noted in majority of the all food items. Fruits index registered the highest increase of 4.0 percentage points, from 1.9 percent in January 2020 to 5.9 percent in February 2020. Fish index registered a double-digit IR during the reference month at 11.6 percent, the highest among all items. Rice and bread and cereals indices, meanwhile, continued to register deflations at 5.6 percent and 4.1 percent, respectively.
Transport commodity group inched up by 0.1 percent posting 4.9 percent IR during the reference month.
Meanwhile, education; restaurant and miscellaneous good and services; recreation and culture; and communication commodity groups retained their previous month’s inflation rates at 5.3 percent, 5.0 percent, 1.4 percent, and 1.2 percent, respectively.
The Purchasing Power of Peso (PPP) of the region was recorded at P0.79 in February 2020. This PPP implies that the goods and services worth P79.00 in 2012 is worth P100.00 in February 2020.
PPP in Northern Samar weakened by 0.01 in February 2020 compared with its figure in January 2020. The rest of the provinces sustained their PPP last month. Biliran, Leyte and Southern Leyte recorded the strongest PPP at P0.81, followed by Eastern Samar at P0.76 and Samar at P0.74. Northern Samar posted the weakest PPP at P0.73.
SGD. WILMA A. PERANTE