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Sunday, April 23, 2017
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KALIBO, Aklan – The province’ inflation rate continued to grow. It hits 2.3 percent in March, according to Philippine Statistics Authority (PSA) Aklan.
While inflation went up by two percent in February 2017, it was lower compared to -0.1 percent a year ago.
According to Provincial Statistics Officer Antonet Catubuan, inflation rate is the annual rate of change or the year-on-year 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.
Higher annual mark-ups were posted in the indices of the following commodity groups:
* alcoholic beverages and tobacco (6.4 percent)
* furnishing, household equipment and routine maintenance of the house (4.9 percent)
* food and non-alcoholic beverages (2.5 percent)
* housing, water, electricity, gas (HWEG) and other fuels (2.3 percent)
* transport (2 percent)
* recreation and culture (2 percent)
* clothing and footwear (1.3 percent), and
* restaurants and miscellaneous goods and services (0.7 percent).
The rest of the commodity groups had slower annual add-ons.
On a monthly basis, consumer prices in Aklan moved up at a slower pace of 0.1 percent in March brought by increments observed in clothing and footwear with 0.3 percent, HWEG and other fuels, recreation and culture, transport, restaurants and miscellaneous goods and services, and alcoholic beverages and tobacco with 0.2 percent, respectively.
The uptick in price index across heavily-weighted food items is attributed to higher price adjustments noted in meat (2.9 percent), fruit (2.1 percent), oils and fats (1.5 percent), food products NEC (1.5 percent), vegetables (0.3 percent), non-alcoholic beverages (0.2 percent), and other cereals, flour and related products (0.1 percent)./PN
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