TACLOBAN CITY- Leyte’s inflation rate continues to drop off from November 2014 to January 2015.
In January 2015, inflation rate in the province dropped to 2.4 percent, denoting a decline of 0.6 percentage point compared to the 3.0 percent inflation rate in December 2014.
The 2.4 percent inflation rate in January 2015 indicates that the general price levels of goods and services in Leyte were higher by 2.4 percent in January 2015 compared to the price levels during the same period in previous year. Almost all of the eleven major commodity groups contributed to the 2.4 percent overall inflation rate, however, the major commodity groups that considerably contributed to the overall provincial inflation rate were alcoholic beverages and tobacco (11.5 percent), and food and non-alcoholic beverages (3.9 percent). Meanwhile, overall inflation rate in the province went down to 2.4 percent in January 2015 from 3.0 percent in December 2014 because of the decrease of the inflation rate in most of the major commodity groups.
The biggest drop was on the year-on-year rate of price change of alcoholic beverages and tobacco by 7.7 percentage points due to the 14.1 percentage points plunge on the year-on-year rate of price change of alcoholic beverages. This was followed by the 1.6 percentage points reduction on the inflation rate of transport because of the 5.0 percentage points decline on the inflation rate of operation of personal transport equipment.
Year-on-year rate of price change of the following major commodity groups likewise went down in January 2015 from previous month’s rates: housing, water, electricity, gas and other fuels (-0.8 percentage point); food and non-alcoholic beverages (-0.3 percentage point); recreation and culture (-0.2 percentage point); clothing and footwear (-0.1 percentage point); furnishings, household equipment and routine maintenance of the house (-0.1 percentage point); and health (-0.1 percentage point).everages. This was followed by the 1.6 percentage points reduction on the inflation rate of operation of personal tranport equipment.
Purchasing power of the peso in Leyte was maintained at 66 centavos from October 2014 to January 2015. (PR)