Bicol: The inflation rate in the Bicol Region slightly decreased from 0.8 percent in October to 0.6 percent in November, the Philippine Statistics Authority-Bicol (PSA-5) reported on Tuesday. PSA-5 Regional Director Cynthia Perdiz attributed the decline primarily to a significant drop in the inflation rate of food and non-alcoholic beverages, which now stands at -2.0 percent.
According to Philippines News Agency, key contributors to the overall inflation in November included restaurant and accommodation services, recording a 7.7 percent inflation rate and accounting for a 75.7 percent share. Other notable contributors were housing, water, electricity, gas, and other fuels with a 2.2 percent inflation rate and a 56.2 percent share, as well as personal care, miscellaneous goods, and services, which had a 4.0 percent inflation rate and a 24.9 percent share.
The top five contributors to the inflation rate in November were restaurants and caf©s, pork, house rentals, wood fuel, and other pelagic fish. Among the six provinces in the region, Sorsogon recorded the slowest inflation rate at -1.3 percent in November, unchanged from October. Masbate experienced the highest inflation rate, increasing from 2.5 percent in October to 3.0 percent in November.
The inflation rates for other provinces were Albay at 0.4 percent, Catanduanes at 0.5 percent, Camarines Sur at 0.7 percent, and Camarines Norte at 0.8 percent.
