Inflation or the rate of increase in the prices of goods and services in the province of Guimaras, accelerated to 3.7 percent in the first month of the current year.
The figure is higher than the national and regional rates.
“The year 2020, Guimaras begin with a higher headline inflation rate which also considered as the fastest inflation recorded since July 2019 with a rate of 2.7 percent,” according to Provincial Statistics Officer Nelida B. Losare of the Philippine Statistic Authority (PSA)- Guimaras Provincial Statistical Office.
Likewise, the January 2020 inflation was faster than the 2.7 percent rate recorded in December 2019 and 3.2 figure posted in January 2019.
The increasing trend in January 2020 inflation was due to the higher annual price movements on the heavily weighted food and non-food indices especially on Alcoholic Beverages and Tobacco which registered an annual increment of 25.06 percent.
Among the eleven major commodity groups, four (4) groups primarily contributed to the uptrend of inflation in January 2020 in addition to the above mentioned commodity group: Transport with 8.31 inflation; Recreation and Culture (4.57%); Restaurant and Miscellaneous Goods and Services (3.48%); and Clothing and Footwear with 3.38 percent inflation.
Meanwhile, other items which posted inflation rate lower than 3 percent were: Health (2.76%), Food and Non-Alcoholic Beverages (2.75%), Housing, Water, Electricity, Gas, and other Fuels (2.33); Education (1.29%) and, Furnishing Households Equipment and Routine Maintenance of the House (1.28%).
Only Communication remained unchanged at an index of 99.9 percent.
“Compared to the month-on-month record, only Alcoholic Beverages and Tobacco remained to have the fastest rate at 64.6 percent, while four other commodity groups recorded slower rates: Food and Non-Alcoholic Beverages (1.3%), Health (1.0%), Transport (0.5%) and, Clothing and Footwear (0.3%).
“Only one commodity group – Housing, Water. Electricity, Gas, and other Fuels – slackened with a rate of -1.2 percent,” Losare said.
“The rest of the five commodity groups retained their previous month’s annual rates: the Furnishing Households Equipment and Routine Maintenance of the House; Communication; Recreation and Culture; Education and; Restaurant and Miscellaneous Goods and Services,” Losare added.