PRICE SITUATION IN BATANGAS
Consumer Price Index (CPI) is an indicator of the change in the average retail prices of goods and services commonly purchased by the household for their day-to-day consumption.
YEAR ON YEAR
The Consumer Price Index (CPI) of Batangas for the month of June 2021 was showed at 128.5 index points.
- The price rise rapidly by 5.6 index point from the last year’s figure of 122.9.
- Alcohol Beverages and Tobacco exhibited the highest index change point of 52.6 among the commodity groups. Yet, Restaurant and Miscellaneous Goods and Services, Food and Non Beverages, Transport, Health, Furnishing, Household Equipment and Routine Maintenance the House, Housing, Water, Electricity, Gas and Other Fuels,
- Clothing and Footwear displayed positive index point change. Otherwise, Recreation and Culture showed negative index point change.
MONTH ON MONTH
Inflation Rate is the percentage increase or decrease in prices during a specific period usually a month or a year.
- The inflation rate in the province was registered at 4.6 percent during the reference month.
- It drop by 0.6 percentage points from the previous month’s figure and the rate at 5.2 percent but increased by 2.9 percentage points from the rate a year ago 1.7 percent.
- During the period, May 2021’s IR of 5.2 percent was the highest while the lowest was observed on August 2020 with 1.0 percent.
Market basket refers to a sample of goods and services used to represent all goods and services bought by a particular group of consumers in a particular area. Base period, usually a year, is the reference period of the index number. It is the period at which the index is set to 100.
MONTH ON MONTH
- In all commodity, Alcoholic Beverages and Tobacco showed the highest commodity having a 356.3 Consumer Price Index.
- Followed by Restaurant and Miscellaneous Goods and Services with 150.3 Consumer Price Index.
- Still, Communication commodity remained lowest CPI with 103.3.
MONTH ON MONTH
Food and Non Alcoholic Beverages
- Prices of consumer items in the province recorded at 0.2 decreased from May to June 2021.
- Compared to last month, June 2021 Food and Non Alcoholic Beverages sub sector recorded –0.9 index point change.
- Positive index point change recorded to the following commodities, Sugar, Jam, Honey, Chocolate, Confectionaries (4.6), Oil and Fats (2.4), and Vegetables (1.9).
- In contrast the following commodities like Corn (-4.4), Fruits (-3.3), Tobacco (-1.8) Food and Meat with (-0.9), Rice (-0.2) and Bread and Cereals (-0.1) exhibited negative index point change.
- Meanwhile, Food and Non-Alcoholic Beverages item Fish displayed –5.1 percent considered as the highest negative index point change compared to May 2021.
- Milk, Cheese and Eggs, Food Products N. E. C. and Alcoholic beverages had zero growth during the month.
- Over all Non-food exhibited an increase of 0.2 percent of index point change.
- Transport gained the highest positive index point change specifically Operation of Personal Transport with an index point change of 2.4. Followed by Clothing and Footwear and Housing, Water, Electricity, Gas and Other Fuels with 0.2 index point change.
- Meanwhile, index point change of Recreation and Culture drops by 0.4 percent particular with audio-visuals, photographic and information equipment with a –0.7 index point change.
- The rest of commodity group remains stable during the month.
Purchasing Power of Peso (PPP) is a measure of the real value the peso in a given period relative to a chosen reference period. It is computed by getting the reciprocal of the CPI and multiplying the result by 100.
In June 2021, the Purchasing Power of Peso in the province exhibited a 0.78. This means that the value of P 1.00 in 2021 is worth P0.78 in May this year. The figure was same as the last month figure.
For the period of June 2020 to June 2021 was 0.81 centavos, displayed on June, July, August, September, and October 2020 considered the highest purchasing power of peso while the lowest was recorded in January 2021 at 0.77 centavos.