Consumer Price Index (CPI) in Agusan del Norte (2018=100): May 2022 Report

Reference Number: 

SR22R1602-03

Date Released (mm/dd/yyyy): 

June 9, 2022

Body: 

 

 

Agusan del Norte reports a consumer price index of 113.8 for all items

In May 2022, Caraga reported a Consumer Price Index (CPI) of 115.9 for all items. Agusan del Norte generated a CPI of 113.8 as of May 2022. This means that the average retail prices of commodities in the market was higher by 13.18 percent compared to its prices in 2018.

 

Figure 1. Consumer Price Index for All Income Household in Caraga by Province: May 2022 (2018=100)

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

 

Agusan del Norte’s CPI increases by 5.5 in May 2022

Agusan del Norte posted a 5.5 index points increase in CPI for all items in May 2022, which is from 108.3 in May 2021 to 113.8 in May 2022. Compared to the previous year’s CPI (May 2021), all commodity groups posted an increase except for education services and financial services. Among the commodity groups, Alcoholic Beverages and Tobacco recorded the highest CPI in the province with 163.4 index points. Followed by Financial Services with 146.0 index points, Transport with 121.8 index points and Health with 120.8 index points.

Transport commodity group noted the fastest hike, from 106.4 CPI on May 2021 to 121.8 in May 2022. Next was the Housing, Water, Electricity, Gas, and other Fuels with a reported CPI of 111.8 in May 2022 from 104.7 CPI in May 2021. In the other hand, CPI for Education Services and Financial Services remain constant with 111.3 and 146.0, respectively.

 

Table 1.  Monthly Consumer Price Index for All Income Households in Agusan del Norte, by Commodity Group:

May 2021, April 2022 and  May 2022 (2018 = 100)

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

 

Agusan del Norte records an Inflation rate of 5.1 percent for all items

The inflation rate in the province of Agusan del Norte went up to 5.1 percent in May 2022 compared to the 4.4 percent in April 2022. The highest hike reported was 14.5 percent for the Transportation commodity group and seconded by the housing, water, electricity, gas, and other fuels which rated an increase of 6.8 percent. No inflation was observed for Education services and Financial Services.

 

Figure 2. Year-on-Year Inflation Rate in Percent by Commodity Group: Agusan del Norte, May 2022 (2018 = 100)

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

 

Housing, Water, Electricity, Gas, and Other Fuels and transport posted the highest increase in inflation rate

From April 2022 and May 2022, the inflation rate in Agusan del Norte increased to 0.5 percent for all items. The highest increase reported was 2.2 percent under the housing, water, electricity, gas, and other fuels with a CPI of 109.4 in April and 111.8 in May, 2022 and Transportation commodity group with a CPI of 119.2 in April and 121.8 in May 2022. However, deflation was noted in the indices of health with -0.6 percent and food and non-alcoholic beverages with -0.4 percent.

 

Figure 3. Month-on-Month Inflation Rate in Percent by Commodity Group: Agusan del Norte, April 2022 to May 2022 (2018 = 100)

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

 

Agusan del Norte’s purchasing power of peso at Php 0.88 in May 2022

Agusan del Norte’s purchasing power of peso dropped by Php 0.04, from Php 0.92 In May 2021 to Php 0.88 in May 2022.

 

Table 2. Consumer Price Index, Monthly Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso in Agusan del Norte (2018=100):

January to December 2021 and January to May 2022

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

 

 

STATISTICAL TABLES

 

Table 3. Consumer Price Index for All Income Household in Caraga by Province: May 2022 (2018=100)

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

 

 

Table 4.  Monthly Consumer Price Index for All Income Households in Agusan del Norte, by Commodity Group: May 2021 & May 2022 (2018 = 100)

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

 

 

TECHNICAL NOTES

 

The Philippine Statistics Authority generates and announces the monthly Consumer Price   Index (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 are 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 households relative to a base year. 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.

The CPI is mostly used in the calculation of the rate and purchasing power of the peso. It is a major statistical series used for economic analysis and as monitoring indicator of government economic policy. It is also used to adjust other economic series for price changes.  Another major importance of the CPI is its use as basis to adjust wages in labor management contracts as well as pensions and retirement benefits.

Inflation Rate refers to the rate of change in the average prices of goods and services typically purchased by consumers. It 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) REYNELO S. MAGNO

Chief Statistical Specialist, PSO – Agusan del Norte

Telephone number: (085) 817-3193 / Telefax No.: (085) 225 – 2097

Email address: psa_agusandelnorte@yahoo.com.ph

 

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