Summary Inflation Report Consumer Price Index (2018-100) June 2022

Reference Number: 

2022-022

Date Released: 

July 6, 2022

 

Table A. Year-on-Year Inflation Rates, All Items In Percent (2018=100)

 

 

Figure 1. Headline Inflation Rates in Caraga, All Items In Percent (2018=100)

Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority

 

 

 

1.     Caraga

 

The headline inflation in Caraga increased further to 6.5 percent in June 2022, from 5.1 percent in May 2022 and 3.5 percent in June 2021. This is the highest recorded inflation since January 2019 in the region. Average inflation for the first half of the year was posted at 4.6 percent. (Table A and B and Figure 1)

 

The increase in the region’s inflation was mainly brought by the higher increase in the indices for food and non-alcoholic beverage at 6.8 percent; transport index, 15.1 percent; and housing, water, electricity, gas, and other fuels, 6.7 percent. Also contributing to the uptrend in the overall inflation during the period were the higher increments in the indices of the following commodity groups as compared with their previous month’s inflation rates:   

 

a.    Alcoholic Beverages and Tobacco, 7.6 percent;

                   b.    Furnishing, Household Equipment and Routine Household Maintenance, 1.4 percent;

c.    Health, 0.9 percent;

d.    Recreation, sport and culture, 2.0 percent;

e.    Restaurants and accommodation services, 3.8 percent; and

f.     Personal care, and miscellaneous goods and services, 1.6 percent.

 

The rest of the commodity groups either retained their previous month’s inflation rates or had zero percent annual growth rates. (Tables C)

 

 

Table B. Year-on-Year Inflation Rates in Caraga, All Items In Percent January 2019 – June 2022 (2018=100)

 

 

Table C. Year-on-Year Inflation Rates, by Commodity Group, Caraga: May and June 2022 In Percent (2018=100)

 

 

For food index, it increased further by 6.8 percent in June 2022, from 4.8 percent in May 2022 and 3.5 percent in June 2021. (Table D)

 

The acceleration in the food inflation was primarily influenced by the higher annual growth in the vegetables, tubers, cooking bananas and pulses index at 24.3 percent, from 18.9 percent in the previous month. Also contributing to the uptrend in the food inflation were meat and other parts of slaughtered land animals index at 11.7 percent, and fish and other seafood index at 6.5 percent. Further, the following food groups have higher increments during the month:

 

a.    Rice, 2.1 percent;

b.    Flour, bread and other bakery products, pasta products, and other cereals, 4.1 percent;

c.    Milk, other dairy products, and eggs, 2.9 percent;

d.    Oils and fats, 10.6 percent;

e.    Fruits and nuts, 5.8 percent;

f.     Sugar, confectionery, and desserts,14.0 percent; and

g.    Ready-made food and other food products n.e.c., 6.2 percent;

 

On the other hand, corn registered a lower annual uptick at 2.9 percent, (Table D)

 

 

Table D. Year-on-Year Inflation Rates, Food Commodity Group, Caraga: June 2021, May and June 2022 In Percent (2018=100)

 

1.        Provinces and HUC

 

In comparison with their annual growth rates in May 2022, all provinces and one highly urbanized city in the region registered an acceleration in inflation rates during the reference month. The Province of Dinagat Islands registered the highest inflation rate at 8.7 percent.  On the other hand, Agusan del Sur registered the lowest inflation rate at 4.4 percent in June 2022. (Table E)

 

 

Table E. Year-on-Year Inflation Rates, by Province/HUC, Caraga: June 2021, May and June 2022 In Percent (2018=100)

 

 

Note:

CPIs and inflation rates by province and selected city are posted at the PSA website (http://openstat.psa.gov.ph/).

 

 

 

(Sgd)ROSALINDA C. APURA, D.M.
Regional Director

PSA RSSO XIII (Caraga)

 

Tags: 

Attachments: