Guimaras’ inflation rate pinned at 3.1% in 1st semester 2020

The first semester of 2020 ended with stable headline inflation rate for Guimaras province at 3.1 percent after four consecutive months of unpredictable trends, based on data from the Philippine Statistics Authority (PSA).

The figure is lower than the 4.1 percent inflation in June 2019, which is the highest level recorded for the 1st semester of the said year.

Comparing the first semester year-on-year inflation rate of the province, the 2019 monthly figures are lower than the 2020 levels except in June. (See Figure 1)

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The year-on-year inflation rate of 3.1 percent in June 2020 was primarily brought by the increased indices of Food and Non- Alcoholic Beverages which rose to 3.4 percent; Alcoholic Beverages and Tobacco at 21.2 percent; Clothing and Footwear at 3.1 percent; Housing, Water, Electricity, Gas & Other Fuels at 3.6 percent; Furnishings, Household Equipment & Routine Maintenance of the House at 1.9 percent; Health at 3.8; Recreation and Culture at 2.0 percent; and Restaurant and Miscellaneous Goods and Services (1.52%). (See Table 1)

“The data also revealed that only transport group slowed at 2.3 percent from an index of 99.8 in June 2019 to 97.5 June 2020, while communication and education remained steady,” Guimaras Provincial Statistics Officer Nelida B. Losare said.

Result of the Consumer Price Index (CPI) report showed that commodity groups such as Alcoholic Beverages and Tobacco and Health recorded the highest annual price increment which rose by 21.2 percent and 3.8 percent, respectively. (See Table 1)

Meanwhile, Furnishings, Household Equipment & Routine Maintenance of the House exhibited the least annual mark-up at 1.9 percent from an index of 133.9 in June 2019 to 136.5 in June 2020.

The month-on-month inflation, however, recorded a 1.3 percent increment tempered by the decreased indices on Food and Non-Alcoholic beverages (-0.2%) and the steady indices of Clothing & Footwear; Communication Recreation and Culture, and Education commodity groups.

The decreased inflation of -0.2 percent on food and non-alcoholic beverages in June 2020 was influenced by the decreased indices on food specifically by the following food items: meat (-1.4%), fish (-1.3%), fruits (-0.4%), and vegetables (-1.2%).