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

Reference Number: 

2022-017

Date Released: 

June 8, 2022

 

 

The May 2022 Consumer Price Index (CPI) for all items in Caraga reached 115.9 index points. This shows that the average retail prices of commodities in the market basket was higher by 15.9 percent compared to its prices in 2018, the reference base year. This month’s CPI for all goods and services was higher by 5.6 index points than the 110.3 CPI in May 2021. (Table 1)
 
 
 
All commodity groups posted an increase in CPI compared to their previous year’s CPI (May 2021) except for Education Services and Financial services. Among these commodity groups, Alcoholic Beverages and Tobacco had the highest CPI in the region with 152.4 index points. Financial Services followed with 144.8 index points. (Table 1)

 

 

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

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

 

 

In May 2022, Transport had the highest inflation rate among the commodity groups with 13.1 percent. This was higher than its inflation rate of 12.1 percent in April 2022. On the contrary, Education Services and Financial Services had the lowest inflation rate at 0.0 percent.

 

Figure 1. Inflation Rates by Commodity Group, Caraga: April 2022 and May 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 5.1 percent in May 2022. This means that the average prices of goods and services had increased by 5.1 percent compared to its average retail prices in May 2021. (Figure 2)
 
 
From May 2021 to May 2022, the lowest inflation rate was recorded in September 2021 at 3.3 percent. The highest inflation rate was in May 2022 at 5.1 percent.
 
 
Figure 2. Inflation Rates for All Items, Caraga: May 2021 to May 2022 (2018=100)
Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index
 
 
Among the five provinces and one highly urbanized city of Caraga, Butuan City posted the highest inflation rate of 6.6 percent in May 2022. It was followed by Dinagat Islands and Surigao del Norte with 6.3 and 5.5 percent, respectively. Agusan del Sur had the lowest with 3.6 percent.
 
Figure 3. Inflation Rates in Percent for All Items by Province/Highly Urbanized City, Caraga: May 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: May 2021 to May 2022 (2018=100)
Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index
 
 
Caraga’s CPI for the month of May 2022 increased to 115.9 from 110.3 in May 2021. This translated into a 5.1 percent inflation rate. The region’s monthly purchasing power of peso was pegged at eighty-six centavos.
 
 
Table 3. Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Agusan del Norte: May 2021 to May 2022 (2018=100)
 
 
Table 3. – Concluded
Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index
 
 
Agusan del Norte’s CPI for the month of May 2022 was recorded at 113.8. This translated to an inflation rate of 5.1 percent. The month’s purchasing power of peso was pegged at eighty-eight centavos.
 
 
Table 4. Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Agusan del Sur: May 2021 to May 2022 (2018=100)
Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index
 
 
In Agusan del Sur, the CPI for the month of May 2022 was recorded at 114.5. This translated to an inflation rate of 3.6 percent. The month’s purchasing power of peso was pegged at eighty-seven centavos.
 
 
Table 5. Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Dinagat Islands: May 2021 to May 2022 (2018=100)
Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index
 
 
In Dinagat Islands, the CPI in May 2022 was 123.1. This translated to an inflation rate of 6.3 percent. The month’s purchasing power of peso was pegged at eighty-one centavos.
 
 
Table 6. Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Surigao del Norte: May 2021 to May 2022 (2018=100)
 
 
Table 6. – Concluded
Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index
 
 
Surigao del Norte’s CPI in May 2022 was 118.4. This translated to an inflation rate of 5.5 percent. The month’s purchasing power of peso was pegged at eighty-four centavos.
 
 
Table 7. Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Surigao del Sur: May 2021 to May 2022 (2018=100)
 
 
Table 7. – Concluded
Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index
 
 
Surigao del Sur’s CPI in May 2022 was 115.1. This translated to an inflation rate of 5.0 percent. The month’s purchasing power of peso was pegged at eighty-seven centavos.
 
 
Table 8. Consumer Price Index, Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso, Butuan City: May 2021 to May 2022 (2018=100)
Source: Philippine Statistics Authority, Survey of Retail Prices of Commodities for Consumer Price Index
 
 
Butuan City’s CPI in May 2022 was 115.8. This translated to an inflation rate of 6.6 percent. The month’s purchasing power of peso was pegged at eighty-six 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

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