GUIMARAS’ inflation rate slowed down to 2.3 percent in September 2019 according to the data released by the Philippine Statistics Authority.
The figure is lower by 3.9 percentage points from previous year’s record of 6.2 due to the decreased prices in transport which dropped by 0.1 percentage points.
Inflation rate refers to the annual rate of change or increase in the averages prices of goods and services typically purchased by consumers, while CPI 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.
Further eased by the slower price movements of heavily-weighted food and non-food commodity items, such as:
- Housing, Water, Electricity, Gas & Other Fuels, 1.6%
- Food and Non-Alcoholic beverages, 2.6%
- Furnishings, Household Equipment and Routine Maintenance of the House (1.4%)
- Health (1.8%)
- Education (1.3%)
- Restaurant and Miscellaneous Goods and Services (3.6%)
- Clothing and Footwear (3.4%)
Based on the previous month, consumer prices in Guimaras moves slower, recording an inflation rate of 0.5 percent, driven by the indices of Housing, Water, Electricity, Gas & Other Fuels (-0.3%); and Recreation and Culture (-0.1%); Furnishings, Household Equipment & Routine Maintenance of the House (0.1%) and Health (0.1%).
Moreover, faster price movement was noticed in the items of Alcoholic Beverages and Tobacco with a rate of change of 12.3 percent from 228.2 to 256.3 index while the remaining four items displayed steady indices, namely: Clothing & Footwear; Education; Communication; Restaurant and the Miscellaneous Goods and Services.