Aklan’s peso value pegs at P0.70 in 2016
The average Purchasing Power of Peso (PPP) in Aklan in 2016 was pegged at P0.70, according to Philippine Statistics Authority-Aklan. The same value of peso was recorded a year ago.
This value means that the goods and services worth one peso (P1.00) in 2006 is now worth seventy (P0.70) centavos in 2016.
Interpreted in another way, this means that the same basket of goods and services worth P70 in 2006 can be bought at P100 in 2016.
Aklan’s peso value remained stable from January to October with P0.70 but dropped to P0.69 on the last two months of the year.
Provincial Statistics Officer Antonet B. Catubuan said that the purchasing power of peso gives an indication of the real value of the peso in a given period relative to the peso value in the base period.
Meanwhile, the province annual inflation rate in 2016 eased to 0.6 percent.
Inflation was noted higher in January with 1.5 percent but lowest in March and May at -0.1 percent, respectively.
Nine out 11 commodity groups recorded higher annual average gains, namely: Alcoholic Beverages and Tobacco (3.9 percent), Furnishings, Household Equipment and House Maintenance (3.7 percent), Health (1.5 percent), Restaurant and Miscellaneous Goods and Services (1.3 percent), Recreation and Culture (0.8 percent), Clothing and Footwear (0.6 percent), and Food and Non-Alcoholic Beverages (0.4 percent).
On the other hand, slower annual average increments were noted in Education (-0.8 percent), and Housing, Water, Electricity, Gas and Other Fuels (-0.6), while Communication showed zero growth during the year.
The average Purchasing Power of Peso (PPP) in Aklan in 2016 was pegged at P0.70, according to Philippine Statistics Authority-Aklan. The same value of peso was recorded a year ago.
This value means that the goods and services worth one peso (P1.00) in 2006 is now worth seventy (P0.70) centavos in 2016.
Interpreted in another way, this means that the same basket of goods and services worth P70 in 2006 can be bought at P100 in 2016.
Aklan’s peso value remained stable from January to October with P0.70 but dropped to P0.69 on the last two months of the year.
Provincial Statistics Officer Antonet B. Catubuan said that the purchasing power of peso gives an indication of the real value of the peso in a given period relative to the peso value in the base period.
Meanwhile, the province annual inflation rate in 2016 eased to 0.6 percent.
Inflation was noted higher in January with 1.5 percent but lowest in March and May at -0.1 percent, respectively.
Nine out 11 commodity groups recorded higher annual average gains, namely: Alcoholic Beverages and Tobacco (3.9 percent), Furnishings, Household Equipment and House Maintenance (3.7 percent), Health (1.5 percent), Restaurant and Miscellaneous Goods and Services (1.3 percent), Recreation and Culture (0.8 percent), Clothing and Footwear (0.6 percent), and Food and Non-Alcoholic Beverages (0.4 percent).
On the other hand, slower annual average increments were noted in Education (-0.8 percent), and Housing, Water, Electricity, Gas and Other Fuels (-0.6), while Communication showed zero growth during the year.