CALABARZON’s Inflation Rate improves to 4.3 percent in November 2021 | Philippine Statistics Authority CALABARZON

Release-Date

Wednesday, December 29, 2021

Reference-Number

2021-0400-SR19

Figure 1. Inflation Rates in CALABARZON, All Items: November 2020 to November 2021 (2012=100) Inflation in the region for November 2021 was measured at 4.3 percent, which is lower compared to its previous month record at 5.2 percent. In contrast, this is 0.2 percent index point higher than the recorded inflation rate in the same month of 2020 at 4.1 percent. Despite the deceleration from August to October, inflation rate in November 2021 is still way above the inflation rate of the whole year 2020 at 2.8 percent (Figure 1 Table 2). Table 1. Year-on-Year Inflation Rate, by Province, All Items (2012=100) Compared with their inflation rates in October 2021, all provinces in the region experienced slower growth in November 2021. The province of Batangas, which recorded the highest inflation across provinces, exhibited a deceleration of 1.4 percent index points from its previous month’s inflation rate at 6.9 percent. Rizal posted the biggest deceleration of 1.7 percent index points in November 2021. Laguna and Cavite also recorded slower growth with 4.3 percent and 4.2 percent inflation, respectively. Quezon recorded the lowest inflation among provinces in November 2021 at 3.4 percent, a deceleration of 1.0 percent index point from its inflation of 4.4 percent in October 2021. Table 2. Year-on-Year Inflation Rates in CALABARZON, All Items, January 2016 to November 2021 (2012=100) Compared with the November inflation rates in the past five years, inflation rate in 2021 was the second highest at 4.3 percent, next to the inflation rate in November 2018 with 5.8 percent. Moreover, it was higher by 2.9 percent index points than the lowest recorded November inflation rate in 2019 at 1.4 percent. On a quarterly basis, 3rd Quarter of 2018 had the highest inflation rate at 6.1 percent while 1st quarter of 2016 had the lowest at 0.2 percent. Third quarter of 2021 recorded an inflation rate of 5.5 percent, lower than the recorded inflation rates in 1st and 2nd quarter of this year. With lower inflation rates for October and November this year, there is an indication that inflation rate of fourth quarter would be lower than the other quarters of this year. Across all years and on a monthly basis, inflation in September 2018 at 6.2 marked the highest inflation so far since the rebasing of the consumer price index to base year 2012. More so, from 2016 to 2020, the 2nd semester of 2018 had the higher monthly inflation rates as compared to that of other semesters’. Since 2016, a deflation was recorded only in February 2016. Moreover, in the year 2016, the monthly inflation rates were limited only to less than 2 percent. This scenario resulted to only 0.9 percent annual inflation, the lowest so far during the past five years. Figure 2. Inflation Rate in CALABARZON, by Commodity Group: October to November 2021 (2012=100) Relative to their inflation in October 2021, four commodity groups in the region exhibited higher inflation rates in November 2021, three commodity groups registered lower inflation rates, and four commodity groups sustained their inflation rate. The downtrend in the inflation in November 2021 for all items was mainly brought about by the slower annual increase in the heavily weighted Food and Non-Alcoholic Beverages index at 3.9 percent. It also had a 1.8 percent index points decrease in the inflation rate recorded in October 2021 at 6.6 percent. In addition, lower annual increases were recorded in the inflation rate of the following commodities: Alcoholic Beverages and Tobacco, 7.5 percent; and Furnishings, Household Equipment and Routine Maintenance of the House, 1.8 percent. Meanwhile, four commodity groups register higher annual inflation rates compared to October 2021. These include: Clothing and Footwear at 2.2 percent; Transport at 10.1 percent; and Communication at 0.1 percent; and Restaurant and Miscellaneous Goods and Services at 5.2 percent. Housing, Water, Electricity, Gas, and Other Fuels commodity group along with Health, Recreation and Culture, and Education commodity groups sustained their inflation rates at 4.1 percent, 4.0 percent, 1.2 percent and 1.6 percent, respectively. Table 3. Monthly Consumer Price Index for All Income Households in the Philippines, by Commodity Group, Area/Region: October and November 2020-2021 (2012=100) Consumer Price Index (CPI) is an indicator of change in the average retail prices of a fixed basket of goods and services commonly purchased by households relative to a base year. It measures how much on the average, prices of goods and services have increased or decreased from a particular reference period. CPI for All Items in CALABARZON for November 2021 was recorded at 129.7, a 4.3 percent increase over the record set in the same month a year ago at 124.3. In addition, CPI for All Items in the region during the month increased by 1.0 index point compared to the figure recorded in October 2021. For areas outside NCR (AONCR), price index for all items in CALABARZON for November 2021 at 129.7 was the third lowest quoted CPI in the Philippines. Caraga had the lowest price index at 128.5. On the other hand, Bicol Region had the highest price index at 136.0 during the reported month, higher by 5.6 index points than the national average at 130.4 price index for all items. Fifteen regions in AONCR reported an increase in the CPI compared to the previous month’s record. Zamboanga Peninsula had the highest reported increment of 1.3 index points. Figure 3. Purchasing Power of Peso, All Items, by Province in CALABARZON: October and November 2021 (2012=100) Purchasing Power of Peso (PPP) shows how much the peso in the base period is worth in another period. It gives an indication of the real value of the peso in a given period relative to the peso value in the base period. Purchasing Power of Peso is inversely related to inflation rate. Thus, as inflation rate increases, PPP declines. In November 2021, the PPP in the region ended its four-month constant state at P0.78 and decreased to P0.77. This means that the value of P1.00 in 2012 is only worth P0.77 in November this year. During the month, only Batangas and Laguna retained their previous month’s record of P0.76 and P0.82, respectively. Laguna remains the strongest across provinces, followed by Batangas and Rizal at P0.76, and Cavite and Quezon at P0.75. (SGD.) CHARITO C. ARMONIA Regional Director BFP/LOM/JAS

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