Aklan’s Peso Value Is P0.70 In 2014
The average Purchasing Power of Peso (PPP) in Aklan in 2014 was pegged at P0.70 or a dropped by three centavos compared to 2013 with P0.73, according to the Philippine Statistics Authority-Aklan.
This means that one peso in 2006 is worth seventy (P0.70) centavos only in 2014. Interpreted in another way, this means that the same basket of goods and services worth P70.00 in 2006 was purchased at P100.00 in 2014.
The highest PPP for the year was noted in March to May with P0.71 but dropped to P0.70 in June and became erratic until September. It started to picked up in October with 0.70 and lodged at 0.71 on the last two months of the reference year.
The rise in prices of goods and services, especially Food and Non-Alcoholic Beverages as well as costs of Alcoholic Beverages and Tobacco depreciated the peso’s real value.
The purchasing power of peso shows how much the peso in the base period is worth in another period. It gives an indication of the real value of the peso in a given period relative to the peso value in the base period.
Base period or base year, on the other hand, is the period at which the index number is set to 100. It is the reference point of the index number series. /MP