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East Visayas inflation lowest in 3 years

The regional inflation rate is 1.1 percentage points lower than the 1.7 percent national average in August 2019

Elmer Recuerdo

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TACLOBAN CITY — Inflation rate in Eastern Visayas slowed down to 0.6 percent in August, the lowest in more than three years.

Philippine Statistics Authority regional director Wilma Perante said the figure is 0.9 percentage lower than the 1.5 percent a month ago and 5.5 percentage points lower compared with the 6.1 percent recorded in the same period last year.

PSA data shows the 0.6 percent inflation rate in the region last month is the lowest since June 2016, and almost comparable to 0.5 percent in May 2016, a presidential election year.
Perante added that the regional inflation rate is 1.1 percentage points lower than the 1.7 percent national average in August 2019.

Among the six provinces in the region, Eastern Samar, Leyte, Northern Samar and Southern Leyte registered lower inflation rates in August 2019 compared with the figures in the previous month

Northern Samar recorded the biggest drop, from zero inflation rate in July to 1.8 percent deflation in August this year.

All commodity groups in the region exhibited lower inflation rate in August compared with their rates in July, except education, which had retained its previous month’s rate of 5.3 percent.

Recreation and culture commodity group registered the biggest drop of 3.2 percentage points, from 4.5 percent in July to 1.3 percent during the period. Perante said this drop can be attributed to the huge decrease in the index for recreational and cultural services.

Transport commodity group eased down to 2.2 percent during the reference month from 3.3 percent in July this year.

Food and non-alcoholic beverages registered a deflation in August at 0.3 percent, a drop from its previous month’s rate of 0.7 percent.

Vegetables registered the highest decrease of 3.5 percentage points pushing its inflation rate to 3.0 percent.  Fruits and rice indices continued to register deflations at 5.3 percent and 4.8 percent, respectively. Deflation was likewise noted in fish at 0.4 percent.

Housing, water, electricity, gas and other fuels commodity group slowed down further,  from 1.3 percent deflation in July to 2.0 percent deflation in August.

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