December 23, 2019
TACLOBAN CITY – Inflation Rate (IR) in Eastern Visayas rebounded by 0.6 percent in November 2019 from 0.7 percent deflation in October 2019. This figure is 1.3 percentage points higher compared with the 0.7 percent deflation a month ago but 4.6 percentage points lower compared with the 5.2 percent IR recorded in the same period last year.
The regional IR is 0.7 percentage point lower than the 1.3 percent national average inflation rate in November 2019.
Leyte, Eastern Samar, and Northern Samar posted inflations in November 2019. Leyte and Northern Samar rebounded to 1.8 percent and 0.2 percent from 0.2 percent and 1.4 percent deflations in October 2019, respectively. Eastern Samar, meanwhile, decreased slightly to 0.6 percent in November 2019 from 0.7 percent in October 2019. On the other hand, Biliran, Southern Leyte and Samar posted deflations during the month in review. Biliran’s deflation further declined to 1.5 percent from 1.4 percent in October 2019. Southern Leyte and Samar exhibited slower deflations at 1.4 percent and 0.2 percent from 2.6 percent and 1.1 percent deflations in October 2019, respectively. Biliran posted the lowest with 1.5 percent deflation. Leyte, meanwhile, recorded the highest IR during the month in review at 1.8 percent.
Majority of the commodity groups in the region exhibited increases in IR in November 2019 compared with their rates in October 2019. Alcoholic beverages and tobacco commodity group registered the biggest increase of 2.4 percentage points, from 4.7 percent in October 2019 to 7.1 percent in November 2019. This can be attributed to the price increases in both the indices for alcoholic beverages and tobacco.
Housing, water, electricity, gas and other fuels picked up by 2.1 percentage points, from 2.9 percent deflation in October 2019 to 0.8 percent deflation in November 2019.
The heavily weighted food and non-alcoholic beverages commodity group further registered 1.0 percent deflation during the reference month from 2.6 percent deflation in October 2019, an increase of 1.6 percentage points. Higher IRs were noted in majority of the food items, with fish index registering the highest increase of 4.6 percentage points pushing its IR to 4.4 percent in November 2019 from 0.2 percent deflation a month ago. Rice and bread and cereals indices continued to register deflations but at slower rate of 8.3 percent and 6.3 percent, respectively.
Transport commodity group increased by 1.0 percent during the reference month after registering zero inflation rate a month ago. This can be attributed to the index for operation of personal transport equipment which rebounded to 0.2 percent in November 2019 from a deflation of 4.3 percent a month ago.
The commodity groups of restaurant and miscellaneous goods and services, and clothing and footwear exhibited higher inflation rates during the reference month at 4.9 percent and 3.4 percent, respectively.
On the other hand, health and recreation and culture commodity group eased down by 0.4 percentage point, posting IRs at 2.9 percent and 1.4 percent, respectively, during the month in review.
IR for furnishings, household equipment and routine maintenance of the house commodity group exhibited a 0.2 percentage point decrease recording IR of 6.3 percent during the reference month.
Meanwhile, education and communication commodity groups retained their previous month’s inflation rates.
The Purchasing Power of Peso (PPP) of the region remained at P0.80 in November 2019. This PPP implies that P100.00 in 2012 (base year) is worth P80.00 only in October 2019.
The PPP of Eastern Samar, Northern Samar and Samar weakened by P0.01 compared with its figure in October 2019. The rest of the provinces sustained their PPP last month. Biliran recorded the strongest PPP at P0.83. Leyte and Southern Leyte ranked second at P0.82, followed by Eastern Samar at P0.77. Northern Samar and Samar posted the weakest PPP at P0.75.