Aklan’s inflation rate clocked in at 4.3 percent in April, slower than the 4.6 percent annual increase in March 2020, according to the Philippine Statistics Authority-Aklan
A year ago, inflation of the province was lower at 0.6%.
The downtrend was primarily brought about by slower annual rates posted in Transport with –11.1%, and Education with –0.8%.
Faster price movements were noted in Alcoholic Beverages and Tobacco (20%), Furnishings, HH Equipment and House Maintenance (12.5%), Housing, Water, Electricity, Gas (HWEG) and Other Fuels (11.7%), Clothing and Footwear (4.2%), Recreation and Culture (3.7%), Health (3.0%), Restaurants and Other Miscellaneous Goods and Services (2.9%), and Food and Non-Alcoholic Beverages (2.4%).
On a monthly basis, consumer prices in Aklan fell to –0.2 percent in April from –1.1 percent in March.
Lower index of Transport at –5.8% and the retention of previous month’s rates of most of the commodity groups contributed to its sluggish average price movements.
However, higher mark ups were noted in HWEG and Other Fuels (0.2%), and Food and Non-Alcoholic Beverages (0.1%).
Across Food and Non-Alcoholic Beverages, faster price movement were observed in Fruits (6.6%), Food Products NEC (4.1%), Vegetables (1.0%), Rice (0.4%), Meat (0.3%), and Bread and Cereals (0.3%), while rates of Fish decelerated to 3.6%.
Inflation rate is the annual rate of change or increase in the averages prices of goods and services typically purchased by consumers.
Consumer Price Index (CPI), on the other hand, is an indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by the households relative to a base year.
