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LEGAZPI CITY, May 10, 2008 (Asia Pulse Data Source via COMTEX) -- The annual inflation rate in the Bicol Region continued to accelerate in April as it surged by 1.1 percentage points, the National Statistical Coordination Board (NSCB) report said Friday.

Based on the latest statistics, the year-on-year change was placed at 7.8 percent, the highest sinceJanuary 2005 when inflation hit 8.5 percent. Compared to the same period last year, inflation rate for the month was higher by 4.6 percentage points but less benign compared to the 8.3-percent national average. Surging food and energy prices pushed the overall level of inflation at its 39-month high.

Food, Beverages and Tobacco still posted the biggest increase in inflation, rising by 2.0 percentage points.

Except for dairy products and fish, the rest of the Food items included in the region's market basket registered higher inflation rates with cereals and corn postingdouble-digit rates.

Rice alone saw a 25.6-percent price rise in April, pushing the overall level of the Food group, the biggest component of the region's market basket at its current level.

Other commodity groups posting increase were Miscellaneous (0.3 percentage point) and Clothing and Services commodity groups (0.1 percentage point apiece). Fuel, Light and Water managed to drop by 0.7 percentage point as well as Housing and Repairs by 0.1 percentage point.

The agency said in the report that the average monthly Consumer Price Index (CPI) rose by 1.6 points, settling at 149.8. Majority of the commodity groups registered increments led by the Food, Beverage and Tobacco (2.6 points), Services (0.8 point), Clothing and Miscellaneous commodity items (0.3 point apiece) and Housing and Repairs (0.2 point). Fuel, Light and Water dropped by 0.7 point.

On a month-on-month basis, Bicol Region's average inflation rate fell by 0.3 percentage point. Decline in inflation rates were observed in most of the commodity groups, resulting to the overall drop: Fuel, Light and Water (0.6 point), Food, Beverages and Tobacco (0.4 point) and Clothing (0.3 point). Housing and Repairs and Miscellaneous commodity groups remained unchanged from its previous month's level.

The purchasing power of the peso in Bicol Region remained at 67 centavos in April 2008 from P1.00 in 2000. (PNA)<br>LAP/LQ/MDR/1247

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