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EV inflation rate up by 5.8 percent in May

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By Restituto Cayubit

TACLOBAN CITY – The annual inflation rate (IR) of Eastern Visayas went up by 5.8 percent in May 2018, a report from the Philippine Statistics Authority regional office 8 (PSA-8) based here said.

RISING INFLATION – Fish, here being sold at a market in Pasay City, is among the commodities whose prices continue to rise, as inflation raced to a new five-year high of 4.6 percent in May. (Czar Dancel)

(Czar Dancel / MANILA BULLETIN FILE PHOTO)

Perante said that “four provinces in the region – Biliran, Leyte, Samar and Southern Leyte posted higher inflation rates in May with 1.2 percentage points, 0.1 percentage point, 0.5 percentage point, and 0.6 percentage point increases, respectively, compared with their figures in the previous month. On the other hand, Eastern Samar and Northern Samar registered 0.3 percentage point and 0.1 percentage point decreases in IR, respectively. Samar registered the highest IR at 7.5 percent, while Southern Leyte posted the lowest IR at 1.3 percent.”

Perante pointed out that by major commodity groups, Housing, Water, Electricity, Gas and Other Fuels posted the highest percent change in IR at 1.0 percentage point from April to May. Food and Non-Alcoholic Beverages followed at 0.4 percentage point. Annual price changes in Transport, Alcoholic Beverages, and Tobacco, Health and Education decreased from 3.6 percent in April to 3.5 percent in May.

On the other hand, communication recorded zero inflation rate during the reference month, while Restaurant and Miscellaneous Goods and Services retained its previous month’s rate of 1.6 percent, Perante said.

“The purchasing power of peso (PPP) of the region was recorded at P 0.81 in May 2018. This is weaker compared with the P0.82 PPP registered in the previous month. This PPP implies that goods and services worth 100 pesos in May 2018 only costs P81 pesos in 2012,” she said.

Perante said that Biliran and Samar registered a 0.01 centavo decrease in the PPP compared with their figures in April. The rest of the provinces had sustained their PPP from last month.

Leyte and Southern Leyte recorded the strongest PPP at P0.84. Biliran ranked second at P0.81, followed by Eastern Samar at P0.80 and Northern Samar at P0.77. Samar, meanwhile, posted the weakest PPP at P0.76, she added.

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