Aklan’s inflation eases to 2.3 percent in May
The province’ inflation decelerated to 2.3 percent in May 2017 according to Philippine Statistics Authority-Aklan.
Inflation rate was pegged at 2.7 percent in the previous month and -0.1 percent a year ago.
Three of the eleven commodity groups showed slower annual increments comprising of Education (-1.4%), Health (-0.3%), and Communication (-0.2%).
The index of Alcoholic Beverages and Tobacco moved up at faster pace of 5.2 percent, followed by Furnishing, Household Equipment and Routine Maintenance of the House (4.8%), Transport (4.2%), and Food and Non-Alcoholic Beverages (2.7%). Other commodity groups have increments less than two percent.
On a monthly basis, consumer prices in Aklan declined to 0.2 percent in May 2017.
Indices of food and non-alcoholic beverages, as well as housing, water, electricity, gas and other fuels both declined by 0.4 percent and 0.2 percent, respectively.
Except for transport which posted a higher rate of 0.5 percent, the rest of the commodity groups retained their previous month’s rates.
Decrement in food alone index is attributed to slower price movement observed in fish (-1.9%), vegetables (-1.3%), fruit (-0.8%), and milk, cheese and eggs (-0.2%).
However, upticks were noted in sugar and related products (0.6%), rice (0.2%), bread and cereals (0.2%), meat (0.1%), and food products NEC such as salt and spices (0.1%).
Inflation rate is the annual rate of change in consumer price index (CPI).
CPI, on the other hand, is an indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by the households relative to a base year.
The province’ inflation decelerated to 2.3 percent in May 2017 according to Philippine Statistics Authority-Aklan.
Inflation rate was pegged at 2.7 percent in the previous month and -0.1 percent a year ago.
Three of the eleven commodity groups showed slower annual increments comprising of Education (-1.4%), Health (-0.3%), and Communication (-0.2%).
The index of Alcoholic Beverages and Tobacco moved up at faster pace of 5.2 percent, followed by Furnishing, Household Equipment and Routine Maintenance of the House (4.8%), Transport (4.2%), and Food and Non-Alcoholic Beverages (2.7%). Other commodity groups have increments less than two percent.
On a monthly basis, consumer prices in Aklan declined to 0.2 percent in May 2017.
Indices of food and non-alcoholic beverages, as well as housing, water, electricity, gas and other fuels both declined by 0.4 percent and 0.2 percent, respectively.
Except for transport which posted a higher rate of 0.5 percent, the rest of the commodity groups retained their previous month’s rates.
Decrement in food alone index is attributed to slower price movement observed in fish (-1.9%), vegetables (-1.3%), fruit (-0.8%), and milk, cheese and eggs (-0.2%).
However, upticks were noted in sugar and related products (0.6%), rice (0.2%), bread and cereals (0.2%), meat (0.1%), and food products NEC such as salt and spices (0.1%).
Inflation rate is the annual rate of change in consumer price index (CPI).
CPI, on the other hand, is an indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by the households relative to a base year.