Bicol region records highest inflation rate of 5.5%

Region V or Bicol Region recorded the highest rate nationwide at 5.5% since Super Typhoon Rolly and Typhoon Ulysses heavily damaged the area.

“Relative to their annual growth rates in October 2020, inflation rates during the month for AONCR were higher in all regions in Luzon, Region VI (Western Visayas), and Bangsamoro Autonomous Region in Muslim Mindanao (BARMM),” the PSA said.

Region VII or recorded the lowest inflation rate at 1.1%.

Meanwhile, the inflation felt by the bottom 30% income families in the Philippines increased further to 3.6% last month from 2.9% in October.

This rate is the highest inflation recorded for the bottom 30% income households since March last year.

The higher annual increase in the index of the heavily-weighted food and non-alcoholic beverages at 2.8% largely contributed to the group’s increase in inflation. The index for housing, water, electricity, gas, and other fuels’ higher annual rate of 1.9% last month also added to the increase.

Meanwhile, the National Capital Region () inflation also increased to 3.5% in November from 2.5% in October.

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Inflation rate

It is also higher compared to the 1.5% rate in November 2019 for Metro Manila.

“Uptrend in the November 2020 inflation in NCR was mainly driven by the 6.2% annual growth rate in food and non-alcoholic beverages. Higher annual increases in the indices of alcoholic beverages and tobacco at 8.5%, and communication at 0.3%, also contributed to the higher inflation in the during the month,” according to the PSA.

Prices of commodities also increase to 3.3% in November from 2.5% in October in areas outside NCR.

“Higher inflation in AONCR was mainly brought about by the 3.8% yearly growth recorded in the index for food and non-alcoholic beverages during the month. Annual increases were also higher in the indices of alcoholic beverages and tobacco at 13.0%; and housing, water, electricity, gas, and other fuels at 1.2%,” the PSA said.

“Ang pangunahing dahilan ng pag-angat ng inflation sa buwan ng Nobyembre 2020 ay ang mas mabilis na pagtaas ng presyo ng Food and Non-Alcoholic Beverages,” National Statistician Claire Dennis Mapa said in a virtual press conference on Friday.