MANILA, Philippines – The country's inflation in August accelerated to 6.4%, a level which hasn't been seen in nearly a decade.
The numbers look much worse when broken down per region.
Bicol's inflation rate is the highest at 9%.
There are also 7 more regions with inflation rates higher than the national average – the Autonomous Region in Muslim Mindanao (ARMM), Soccsksargen, Western Visayas, Cagayan Valley, Davao Region, National Capital Region (NCR), and Ilocos Region.
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Despite the arrival of rice imports, prices remained high. Bicol once again topped the list with the highest rice inflation rate of 12.5%. (READ: Gov't 'did little or nothing' to stop 6.4% August inflation)
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The scatter plot below shows that regional inflation and rice prices are moderately related. Generally, regions with high inflation rates have high rice prices as well.
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As for vegetable prices, Cagayan Valley had the highest inflation rate – a whopping 35.6%.
Meanwhile, vegetable prices in ARMM, the Cordillera Administrative Region (CAR), Mimaropa, and Central Visayas generally slowed down in August compared to July.
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Fish prices have also jumped in most regions. Bicol once again topped the list with 20.2%.
Mimaropa experienced a slowdown in fish prices with 12.3%, compared to 13.7% recorded in July. NCR also saw a slowdown, at 10.6% from 11.2%, and Calabarzon, at 10.7% from 10.8%.
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Bicol also had the highest meat inflation in August, accelerating similarly as in July.
Notable increases in meat prices were observed in the Davao Region (9.4%), NCR (9.2%), ARMM (7%), Ilocos Region (7.3%), and Central Luzon (5.8%).
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– Rappler.com