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Eastern Visayas posts 4.5% inflation rate.

By Restituto A. Cayubit

Tacloban City - Eastern Visayas posted a 4.5 percent inflation rate at the start of 2018, a report from the Philippine Statistics Authority (PSA) regional office said Wednesday.

Wilma A. Perante, PSA regional director, told Manila Bulletin the January inflation was 0.5 percentage point higher than it was in December 2017 and 1.7 percentage points higher than the rate during January last year.

"The regional inflation rate was 0.5 percentage point higher than the 4.0 percent national average," Perante said.

Three provinces in the region - Northern Samar, Eastern Samar, and Biliran - had higher rates in January than the figure last December. Inflation in Southern Leyte and Leyte dropped, and the rate in Samar was unchanged.

Inflation in the region was highest in Northern Samar at 7.3 percent, and lowest in Southern Leyte at 1.5 percent, PSA said.

By major commodity groups, transport, food and non-alcoholic beverages, alcoholic beverages and tobacco, and furnishings, household equipment and routine maintenance of the house posted higher annual growths from December 2017 to last January.

Annual price changes in housing, water, electricity, gas and other fuels, and health slowed down and rest of the commodity groups retained the previous month's rates.

The Purchasing Power of Peso (PPP) of the region was at P0.61 in January, weaker than the P0.62 PPP the previous month. "This PPP implies that goods and services worth P100 in January 2018 only cost P61 in 2006," Perante said.

The PPP in Northern Samar, Biliran and Eastern Samar was lower than the PPP last December. The PPP was unchanged in the rest of the region. Biliran had the strongest PPP at P0.65, followed by Northern Samar at P0.62 and Leyte at P0.61.

Eastern Samar, Samar, and Southern Leyte, had the weakest PPP at P0.60, Perante said.

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Title Annotation:Provincial
Publication:Manila Bulletin
Geographic Code:9PHIL
Date:Feb 21, 2018
Words:312
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