Bicol Inflation Rate Rises to 1.1% in Sept.

Legazpi city: The inflation rate in the Bicol Region experienced a slight increase from 1.0 percent in August to 1.1 percent in September, as reported by the Philippine Statistics Authority (PSA) 5 (Bicol) on Thursday.

According to Philippines News Agency, Cynthia Perdiz, PSA-5 director, highlighted that the primary factors contributing to the rise in September's inflation rate include food and non-alcoholic beverages, such as vegetables, cereal products, and coffee, which saw an increase from -0.4 percent in August to -0.1 percent in September.

Significant contributors to the inflation were identified as restaurant and accommodation services with an 8.2 percent inflation rate and a 49.6 percent share; personal care, miscellaneous goods and services with a 4.1 percent inflation rate and a 15.2 percent share; and furnishing, household equipment and routine household maintenance with a 3.9 percent inflation rate and an 11.3 percent share. The top five contributors to the inflation in September were restaurants, caf©s, meat of pigs, rentals, other pelagic fish, and onions and shallots.

The major commodity groups with higher inflation for September were information and communication, personal care, and miscellaneous goods and services. On the other hand, commodities with lower inflation included clothing and footwear, health, recreation, sports, and culture.

Meanwhile, among the region's six provinces, Sorsogon recorded the lowest inflation with -1.0 percent in September, down from -0.6 percent in August. Catanduanes had the highest inflation rate, decreasing from 3.0 percent in August to 2.7 percent in September. The inflation rate for other provinces stood at 1.7 for Albay and Masbate, 1.3 for Camarines Sur, and 0.3 for Camarines Norte.