Consumer Price Index (CPI) in Butuan City (2018=100): May 2022 Report

Reference Number: 

SR22R1602-04

Date Released (mm/dd/yyyy): 

June 10, 2022

Body: 

 

Butuan City reports a price index of 115.8 for all times

In May 2022, Butuan City posted 115.8 Consumer Price Index (CPI) for all items. This means that the average retail prices of commodities in the market was higher by 15.8 percent compared to its prices in 2018, the reference year.

 

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

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

 

Butuan City’s CPI increases by 7.2 index points in May 2022 for all items

Butuan City exhibited a 7.2 index points increase in CPI for all items in May 2022, from 108.6 in May 2021 to 115.8 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 153.7 index points. Followed by Financial Services with 146.0 index points, Transport with 124.1 index points and Health with 123.8 index points.

 

Transport Commodity Group records the fastest hike in the year-to-year inflation rate

Transport commodity group recorded the fastest hike, from 104.9 CPI in May 2021 to 124.1 in May 2022. Followed by the Housing, Water, Electricity, Gas, and other Fuels with a reported CPI of 109.7 in May 2022 from 101.5 CPI in May 2021. On the other hand, CPI for Education Services and Financial Services remain constant with 111.6 and 146.0, respectively.

 

Table 1.  Monthly Consumer Price Index for All Income Households in Butuan City, by Commodity Group: May 2021 to May 2022 (2018 = 100)

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

 

Butuan City records its highest inflation rate in May 2022

The inflation rate in Butuan City accelerated by 6.4 percent in January 2022 and reached the highest inflation in May 2022 at 6.6 percent. The inflation rate is 2.3 percent higher compared to the recorded inflation in May 2021.

 

Figure 2. Inflation Rate in Percent for All Items: Butuan City, May 2021 to May 2022 (2018 = 100)

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

 

Butuan City records an Inflation rate of 6.6 percent for all items

The inflation rate for all items in Butuan City went up to 6.6 percent in May 2022 compared to the 4.3 percent in May 2021. The highest hike reported was 18.3 percent from the Transportation commodity group and seconded by the housing, water, electricity, gas, and other fuels which rated an increase of 8.1 percent. No inflation was noted for Education services and Financial Services.

 

Figure 3. Year-on-Year Inflation Rate in Percent by Commodity Group: Butuan City, May 2022 (2018 = 100)

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

 

Restaurants, and Accommodation Services records the highest increase in the month-on-month inflation rate

From April 2022 to May 2022, the inflation rate in Butuan City increased to 0.2 percent for all items. The highest increase reported was 3.9 percent for the restaurants, and accommodation services with a CPI of 116.7 in April and 121.2 in May, 2022. Next to it was the Transport commodity group with a reported inflation rate of 2.5 percent. However, a deflation was recorded in the indices of food and non-alcoholic beverages with -1.1 percent, and Information and Communication with -0.1 percent.

 

Figure 4. Month-on-Month Inflation Rate in Percent by Commodity Group: Butuan City, May 2022 (2018 = 100)

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

 

Butuan City’s purchasing power of peso at Php 0.86 in May 2022

Butuan City’s purchasing power of peso declined by Php 0.06, from Php 0.92 in May 2021 to Php 0.86 in May 2022.

 

Table 2. Consumer Price Index, Monthly Inflation Rates, Monthly Percent Changes and Purchasing Power of Peso in Butuan City (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, Monthly Inflation Rates, and Purchasing Power of Peso for All Income Household in Agusan del Norte and Butuan City:

May 2022 (2018=100)

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

 

 

Table 4. Month-on-Month and Year-on-Year Inflation Rate in Percent by Commodity Group: Butuan City (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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