The prices of basic goods slowed in June 2021 after five months of erratic trend, according to the Retail Prices Survey (RPS) conducted by the Philippine Statistics Authority (PSA).
“Guimaras inflation rate settled at 3.4 percent in June 2021, slower than its previous month’s annual rate of change at 4.7 percent and 3.5 percent a year ago,” Provincial Statistical Officer Nelida B. Losare said
“The figure brings the average inflation rate for the first semester to 4.7 percent,” Losare added.
The slower pace in the June 2021 inflation rate was primarily due to the slower annual rate of price change in transport which decelerated by 14.2 percentage points from the 32.2 percent in May 2021 to 18 percent in June.
Other commodity groups which recorded slower inflation on its indices were:
- Alcoholic Beverages and Tobacco (13.9%)
- Restaurant and Miscellaneous Goods and Services (10.2%)
- Housing, Water, Electricity, Gas and other Fuels (0.2%)
“Faster Inflation rates were seen in the indices of Furnishings, Household Equipment and Routine Maintenance of the House at 4.5 percent; Clothing and Footwear, 4.0 percent; Health, 1.5 percent; and Food and Non-alcoholic Beverages, 0.5 percent,” Losare said.
Only the indices of the following commodity group showed steady inflation in June 2021: Education (5.1%), Communication (0.1%), and Recreation and Culture (-1.9%).
Losare explained that the decrement in the annual rate of change of Transportation Services and; Operation of Personal Transport Equipment’s indices at 35.5 and 8.2 percent, respectively, drove the Transport Commodity inflation to slow down in June 2021.
“The inflation of alcoholic beverages’ index which dropped to 15.0 percent, pushed the commodity of Alcoholic Beverages and Tobacco’s annual rate of change to step down a bit at 13.9 percent in June 2021 from 14.2 percent in May,” she added.
Slow-moving inflation in the indices of Personal Care (7.3%) and; Personal Effects N.E.C. (2.8%) propelled inflation for Restaurant & Miscellaneous Good and Services’ index to sway down to 10.2 percent.
The 0.2 percent annual rate of change in the index of Housing, Water, Electricity, Gas and other Fuels Commodity was mainly due to the plodding inflation in Electricity, Gas and Other Fuels at 4.2 percent.
The 4.5 percent increased inflation in Furnishings, Household Equipment, and Routine Maintenance of the House Commodity was due to the swelling indices of Furniture and Furnishings, Carpets and Other Floor Coverings (0.5%) and; Tools and Equipment for House and Garden (4.4%).
“Clothing with 4.2 inflation rate, pressed the Commodity of Clothing and Footwear’s index to moved up at 4.0 percent, while in the inflation of Health, was mainly brought by the faster annual rate of change in the Out-patient Services at 4.2 percent in June 2021 from 3.3 percent a month ago,” Losare said
Losare also cited that the inflation in the index of Food and Non-alcoholic Beverages also moved up to 0.5 percent due to the faster annual rate of change in the indices of Meat at 14.2 percent from 4.18 a month ago Milk, Cheese and Eggs at 2.6 percent from 0.78 percent; Oils and Fats at 13. 2 percent from 3.8 percent, tempered by the slumped in the slowed indices to a bigger negative for Bread and Cereals at -5.2 percent from -1.54 percent in May 2021; Fruit at -3.4 percent from -1.01 percent; Vegetables at -11.1 percent from -3.27 percent; Sugar, Jam, Honey, Chocolate and Confectionery at -1.8 percent from -0.53 percent and; Food Products N.E.C. at -1.1 percent from -0.32 percent.
“The above-mentioned food and non-food commodities were the items being monitored during the Retail Prices Survey (RPS) conducted by the PSA wherein for June 2021, it generated a CPI of 128.7 which means that an average Guimarasnon household needs PHP28.7 more in June 2021 to buy a basket of goods worth PHP100 in 2012,” Losare said.
