Inflation rate in EV ease to a record low in June at 1.5%

Published July 28, 2019, 5:14 PM

by Rica Arevalo

By Restituto Cayubit

TACLOBAN CITY – Inflation in Eastern Visayas continued to decline to 1.5 percent in June 2019, the lowest since June 2018, a report from the Philippine Statistics Authority – Regional Statistical Service Office VIII (PSA – RSSO 8), based here said.

Philippine Statistics Authority (MANILA BULLETIN)
Philippine Statistics Authority (MANILA BULLETIN)

Wilma A. Perante, PSA – RSSO 8, regional director, told Manila Bulletin in an interview that it was 0.1 percentage point lower compared with the 1.6-percent inflation rate (IR) recorded a month ago, and 4.8 percentage points lower compared with the 6.3 percent IR recorded in the same period last year. The regional inflation rate is 1.2 percentage points lower than the 2.7 percent national average in June 2019.

Perante reported that the provinces of Eastern Samar, Leyte, Northern Samar, and Southern Leyte registered lower IRs in June 2019 compared with their figures in the previous month.

Northern Samar recorded the biggest drop of 1.3 percentage points, from 1.2 percent in May 2019 to -0.1 percent in June 2019. On the other hand, Biliran registered a 3.1 percentage points increase in IR, from -2.9 percent in May 2019 to 0.2 percent during the reference month. Samar also inched up to -0.1 percent in June 2019 from its -0.2 percent IR a month ago, she added.

“Among the provinces, Northern Samar and Samar posted the lowest with negative IR at 0.1 percent, while Leyte recorded the highest IR during the month in review at 3.2 percent,” Perante said.

Perante said that the majority of the commodity groups in the region exhibited faster IR in June 2019 compared with their rates in May 2019. These were however offset by the decreases recorded in transport, food and non-alcoholic beverages, and health commodity groups.

“Transport commodity group registered the biggest drop of 2.2 percentage points, from 5.9 percent in May 2019 to 3.7 percent during the month in review,” she said.

The director said that the heavily-weighted food and non-alcoholic beverages declined by 0.8 percentage point to 1.5 percent in June 2019 from its previous month’s rate of 2.3 percent.

Lower IRs was noted in the majority of the items. Fish registered the highest decrease of 2.9 percentage points, from 5.6 percent in May 2019 to 2.7 percent in June 2019. Fruits and rice indices continued to register negative IRs at 6.5 percent and 2.3 percent, respectively.

The health commodity group eased down slightly to 3.5 percent during the reference from 3.6 percent in May 2019, she added.