Summary Inflation Report Consumer Price Index in Caraga (2018=100) February 2022

Reference Number: 

2022-010

Date Released: 

April 25, 2022

 

The February 2022 Consumer Price Index (CPI) for all items in Caraga reached 113.8 index points. This shows that the average retail prices of commodities in the market basket were higher by 13.8 percent compared to its prices in 2018 as a reference base year. This month’s CPI for all goods and services was higher by 3.7 index points than the 110.1 CPI in February 2021. (Table 1)

 

All commodity groups posted increases in CPI compared to their previous year’s CPI (February 2021) except for Education Services. Among these commodity groups, Alcoholic Beverages and Tobacco had the highest CPI in the region with 146.4 index points. Financial Services followed it with 144.8 index points. (Table 1)

 

Table 1. Consumer Price Index by Commodity Group, Caraga: February 2021, January 2022, and February 2022 (2018=100)

Commodity Group

Feb 2021

Jan 2022

Feb 2022

All Items

110.1

113.3

113.8

Food and Non-Alcoholic Beverages

107.6

110.5

111.1

Alcoholic Beverages and Tobacco

143.2

145.9

146.4

Clothing and Footwear

103.9

105.2

105.2

Housing, Water, Electricity, Gas and Other Fuels

111.4

115.3

115.5

Furnishing, Household Equipment and Routine Household Maintenance

110.5

111.8

111.8

Health

115.7

117.4

117.4

Transport

112.5

119.9

121.2

Information and Communication

102.3

102.7

102.7

Recreation, Sport and Culture

111.3

113.0

113.0

Education Services

116.6

116.6

116.6

Restaurants and Accommodation Services

116.0

117.9

118.0

Financial Services

100.0

144.8

144.8

Personal Care, and Miscellaneous Goods and Services

109.0

110.8

110.8

Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index

 

In February 2022, Financial Services had the highest inflation rate among the commodity groups with 44.8 percent. This was identical with its inflation rate of 44.8 percent in January 2022. On the contrary, Education Services had the lowest inflation rate at 0.0 percent.

 

Figure 1. Inflation Rates by Commodity Group, Caraga: January 2022 and February 2022 (2018=100) 

Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index

 

The inflation rate for all items in the region was recorded at 3.4 percent in February 2022. This means that the average prices of goods and services had increased by 3.4 percent compared to its average retail prices in February 2021. (Figure 2)From February 2021 to February 2022, the lowest inflation rate was recorded in September 2021 at 3.3 percent. The highest inflation rate was in February 2021 at 4.9 percent.

 

Figure 2. Inflation Rates for All Items, Caraga: February 2021 to February 2022 (2018=100) 

Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index

 

Among the five provinces of Caraga, Dinagat Islands posted the highest inflation rate of 5.4 percent in February 2022. It was followed by Butuan City and Agusan del Norte with 4.6 and 4.0 percent, respectively. Agusan del Sur had the lowest with 1.7 percent.

 

Figure 3. Inflation Rates in Percent for All Items by Province/Highly Urbanized City, Caraga: February 2022 (2018=100) 

   Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index

 

Table 2.  Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Caraga: February 2021 to February 2022 (2018=100) 

Year/Month

C P I

Inflation Rate

Monthly

% Change

Purchasing

Power of Peso

2021

 

 

 

 

February

110.1

4.9

1.4

0.91

March

110.2

4.7

0.1

0.91

April

110.2

4.5

0.0

0.91

May

110.3

4.7

0.1

0.91

June

109.9

3.5

-0.4

0.91

July

110.0

3.9

0.1

0.91

August

110.0

3.8

0.0

0.91

September

109.7

3.3

-0.3

0.91

October

110.0

3.4

0.3

0.91

November

111.0

4.2

0.9

0.90

December

111.6

4.5

0.5

0.90

2022

 

 

 

 

January

113.3

4.3

1.5

0.88

February

113.8

3.4

0.4

0.88

Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index

 

Caraga’s CPI for the month of February 2022 increased to 113.8 from 110.1 in February 2021. This translated into a 3.4 percent inflation rate. The region’s monthly purchasing power of peso was pegged at eighty-eight centavos.

 

Table 3.  Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Agusan del Norte: February 2021 to February 2022 (2018=100)

 

 

 

Year/Month

C P I

Inflation Rate

Monthly % Change

Purchasing Power of Peso

2021

 

 

 

 

February

108.1

4.4

2.7

0.93

March

108.4

4.6

0.3

0.92

April

108.4

4.3

0.0

0.92

May

108.3

4.1

-0.1

0.92

June

107.8

3.3

-0.5

0.93

July

107.5

3.4

-0.3

0.93

August

108.1

3.9

0.6

0.93

September

107.8

3.4

-0.3

0.93

 

Year/Month

C P I

Inflation Rate

Monthly % Change

Purchasing Power of Peso

2021

 

 

 

 

October

107.9

3.2

0.1

0.93

November

109.0

3.9

0.1

0.92

December

109.6

4.5

0.6

0.91

2022

 

 

 

 

January

112.1

6.5

2.3

0.89

February

112.4

4.0

0.3

0.89

 

Agusan del Norte’s CPI for the month of February 2022 was recorded at 112.4. This translated to an inflation rate 4.0 percent. The month’s purchasing power of peso was pegged at eighty-nine centavos.

 

Table 4. Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Agusan del Sur: February 2021 to February 2022 (2018=100)

Year/Month

C P I

Inflation Rate

Monthly % Change

Purchasing Power of Peso

2021

 

 

 

 

February

110.5

5.0

1.3

0.90

March

110.3

3.8

-0.2

0.91

April

110.7

4.5

0.4

0.90

May

110.5

4.2

-0.2

0.90

June

110.7

3.5

0.2

0.90

July

110.2

3.6

-0.5

0.91

August

110.0

3.4

-0.2

0.91

September

109.3

2.9

-0.6

0.91

October

109.3

2.7

0.0

0.91

November

110.1

3.2

0.7

0.91

December

110.2

3.0

0.1

0.91

2022

 

 

 

 

January

112.0

2.7

1.6

0.89

February

112.4

1.7

0.4

0.89

Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index

 

In Agusan del Sur, the CPI for the month of February 2022 was recorded at 112.4. This translated to an inflation rate of 1.7 percent. The month’s purchasing power of peso was pegged at eighty-nine centavos.

 

Table 5. Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Dinagat Islands: February 2021 to February 2022 (2018=100)

 

Year/Month

C P I

Inflation Rate

Monthly

% Change

Purchasing Power of Peso

2021

 

 

 

 

February

113.8

8.5

1.3

0.88

March

114.7

9.0

0.8

0.87

April

114.8

8.2

0.1

0.87

May

115.8

10.3

0.9

0.86

June

115.5

9.3

-0.3

0.87

July

115.0

8.7

-0.4

0.87

August

115.5

8.6

0.4

0.87

September

115.8

7.8

0.3

0.86

October

115.9

7.0

0.1

0.86

November

116.7

7.7

0.7

0.86

December

116.7

6.6

0.0

0.86

2022

 

 

 

 

January

118.7

5.7

1.7

0.84

February

119.9

5.4

1.0

0.83

Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index

 

In Dinagat Islands, the CPI in February 2022 was 119.9. This translated to an inflation rate of 5.4 percent. The month’s purchasing power of peso was pegged at eighty-three centavos.

 

Table 6. Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Surigao del Norte: February 2021 to February 2022 (2018=100)

Year/Month

C P I

Inflation Rate

Monthly % Change

Purchasing Power of Peso

2021

 

 

 

 

February

112.8

6.2

0.5

0.89

March

112.7

5.2

-0.1

0.89

April

111.6

4.5

-1.0

0.90

May

112.2

5.6

0.5

0.89

 
 
Table 6. – Concluded
 

Year/Month

C P I

Inflation Rate

Monthly % Change

Purchasing Power of Peso

2021

 

 

 

 

June

111.1

3.2

-1.0

0.90

July

112.6

4.7

1.4

0.89

August

112.7

4.3

0.1

0.89

September

112.8

4.3

0.1

0.89

October

112.9

4.7

0.1

0.89

November

113.6

5.0

0.6

0.88

December

114.4

5.2

0.7

0.87

2022

 

 

 

 

January

115.7

3.1

1.1

0.86

February

116.2

3.0

0.4

0.86

Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index

 

Surigao del Norte’s CPI in February 2022 was 116.2. This translated to an inflation rate of 3.0 percent. The month’s purchasing power of peso was pegged at eighty-six centavos.

 

 

Table 7. Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Surigao del Sur: February 2021 to February 2022 (2018=100)

Year/Month

C P I

Inflation Rate

Monthly % Change

Purchasing Power of Peso

2021

 

 

 

 

February

109.0

3.7

1.1

0.92

March

108.9

4.3

-0.1

0.92

April

109.6

3.8

0.6

0.91

May

109.6

4.0

0.0

0.91

June

109.4

3.2

-0.2

0.91

July

109.2

3.0

-0.2

0.92

August

109.2

3.0

0.0

0.92

September

108.7

2.2

-0.5

0.92

October

108.9

2.1

0.2

0.92

November

110.0

3.3

1.0

0.91

December

110.7

3.7

0.6

0.90

 

Table 7. – Concluded

Year/Month

C P I

Inflation Rate

Monthly % Change

Purchasing Power of Peso

2022

 

 

 

 

January

112.7

4.5

1.8

0.89

February

113.1

3.8

0.4

0.88

Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index

 

Surigao del Sur’s CPI in February 2022 was 113.1. This translated to an inflation rate of 3.8 percent. The month’s purchasing power of peso was pegged at eighty-eight centavos.

 

Table 8. Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Butuan City: February 2021 to February 2022 (2018=100)

Year/Month

C P I

Inflation Rate

Monthly

% Change

Purchasing Power of Peso

2021

 

 

 

 

February

108.3

4.1

2.3

0.92

March

108.7

4.4

0.4

0.92

April

108.7

4.4

0.0

0.92

May

108.6

4.3

-0.1

0.92

June

108.0

3.3

-0.6

0.93

July

107.8

3.4

-0.2

0.93

August

107.8

3.5

0.0

0.93

September

107.6

3.1

-0.2

0.93

October

109.1

4.1

1.4

0.92

November

110.2

5.0

1.0

0.91

December

111.4

6.0

1.1

0.90

2022

 

 

 

 

January

112.7

6.4

1.2

0.89

February

113.3

4.6

0.5

0.88

Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index

 

Butuan City’s CPI in February 2022 was 113.3. This translated to an inflation rate of 4.6 percent. The month’s purchasing power of peso was pegged at eighty-eight centavos.

 

TECHNICAL NOTES

 

The Philippine Statistics Authority generates and announces the monthly CPI based on the nationwide survey of prices for a given basket of goods and services. Two important indicators, the inflation rate and purchasing power of the peso (PPP), are derived from the CPI which is important in monitoring price stability and the value of the country’s currency.

 

The Consumer Price Index (CPI) is an indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by an average Filipino household. It shows how much on the average, prices of goods and services have increased or decreased from a particular reference period known as base year.

 

Inflation rate is an indicator derived from the CPI. It refers to the annual rate of change or the year-on-year change of the CPI expressed in percent. Inflation is interpreted in terms of declining purchasing power of money.

 

The Purchasing Power of the Peso (PPP) indicates the value of the peso in the period under review as compared to the value of the peso in the base period. It is computed as the reciprocal of the CPI for the period under review multiplied by 100.

 

 

 

Approved by:

 

 

 

(Sgd)ROSALINDA CELESTE-APURA, D.M.

Regional Director

Philippine Statistics Authority - RSSO XIII

Tel. No.: (085) 225-5219/ Telefax No.: (085) 815-4935

Email add: psacaraga_rsso13@yahoo.com.ph              

 

 

 

 

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