EXPENSIVE. Chicken prices soar in August 2018. File photo by Darren Langit/Rappler
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.
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)
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.
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.
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%.
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%).