Reference Number:
Date Released:
Consumer Price Index in Surigao del Sur: January 2022 (2018=100)
Reference Number: SR-1668-2022-001
Release Date: March 02, 2022
Price of a basket of goods in January 2022
For January 2022, Surigao del Sur’s Consumer Price Index (CPI) is 112.7, which means that the price of a basket of goods is 12.7 percent higher than its price in based year 2018. The 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 base year. (See Figure 1)
Source: Survey of Retail Prices of Commodity for the Generation of CPI, PSA
Surigao del Sur January 2022 CPI by Commodity Group
Alcoholic Beverages and Tobacco had the highest CPI among the commodity groups in January 2022 at 140.8, followed by Transport at 129.7. On the other hand, the three (3) commodity groups with the lowest CPI reported in January 2022 were Education at 101.8, Communication at 101.9 and Clothing and Footwear at 103.2. (See Figure 2)
Source: Survey of Retail Prices of Commodity for the Generation of CPI, PSA
On the selected Transport items, the highest transport retail price is recorded in purchase of vehicles with an average increase of 51.20 percentage points and followed by Operation of Personal Transport Equipment 27.7 percentage points. (See Table 1)
Table 1. Consumer Price Index (CPI) by Transport Items (2018=100) |
|
Commodity Group |
CPI January 2022 |
TRANSPORT |
129.7 |
Purchase of Vehicles |
151.2 |
Operation of Personal Transport Equipment |
127.7 |
Passenger Transport Services |
100.7 |
Transport Services of Goods |
104.4 |
Source: Survey of Retail Prices of Commodity for the Generation of CPI, PSA
Purchasing Power of Peso (PPP)
Surigao del Sur’s PPP in January 2022 is estimated at 0.89. This implies that the Php1.00 in 2018, as the base year, values 89 centavos in January 2022. To make an example, the Php 100 worth of basket goods in year 2018 is now only value of Php 89. (See Table 2)
Table 2. Year on Year Purchasing Power of Peso (2018=100) |
||
Reference Period |
CPI January 2022 |
Purchasing Power of Peso (PPP) |
January 2022 |
112.7 |
0.89 |
December 2021 |
110.7 |
0.90 |
January 2021 |
107.8 |
0.93 |
Source: Survey of Retail Prices of Commodity for the Generation of CPI, PSA
Inflation Rate in January 2022 Continue to Rise
In Surigao del Sur, January 2022 inflation rate continued to accelerate at 4.5 percent based on the computed price indices at constant 2018 prices. It is higher by 0.8 percentage points compared to the registered rate of 3.7 percent in December 2021. Further, it is higher by 1.6 percentage points compared to the posted rate of 2.9 percent in January 2021. (See Figure 3)
Source: Survey of Retail Prices of Commodity for the Generation of CPI, PSA
Figure 3 shows the trend of the province inflation rate from January 2021 to January 2022. The highest inflation was noticed in January 2022 while October 2021 was the lowest inflation in the province.
Statistical Tables |
|
Consumer Price Index, Inflation Rate, Monthly Percent Change |
|
and Purchasing Power of Peso in SURIGAO DEL SUR |
|
(2018 = 100) |
|
Year/Month |
C P I |
Inflation Rate |
Monthly |
Purchasing |
|||||
% Change |
Power of Peso |
||||||||
|
|
|
|
|
|
|
|
|
|
2022 |
|
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|
|
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|
January |
112.7 |
4.5 |
1.8 |
0.89 |
|
|||
|
|
||||||||
2021 |
109.3 |
3.3 |
0.92 |
|
|||||
|
|
||||||||
|
January |
107.8 |
2.9 |
1.0 |
0.93 |
|
|||
|
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 |
|
|||
|
|
||||||||
2020 |
105.8 |
3.8 |
0.95 |
|
|||||
|
|
||||||||
|
January |
104.8 |
3.9 |
1.0 |
0.95 |
|
|||
|
February |
105.1 |
4.2 |
0.3 |
0.95 |
|
|||
|
March |
104.4 |
3.6 |
-0.7 |
0.96 |
|
|||
|
April |
105.6 |
4.0 |
1.1 |
0.95 |
|
|||
|
May |
105.4 |
3.6 |
-0.2 |
0.95 |
|
|||
|
June |
106.0 |
4.4 |
0.6 |
0.94 |
|
|||
|
July |
106.0 |
3.8 |
0.0 |
0.94 |
|
|||
|
August |
106.0 |
3.7 |
0.0 |
0.94 |
|
|||
|
September |
106.4 |
3.9 |
0.4 |
0.94 |
|
|||
|
October |
106.7 |
4.2 |
0.3 |
0.94 |
|
|||
|
November |
106.5 |
2.9 |
-0.2 |
0.94 |
|
|||
|
December |
106.7 |
2.8 |
0.2 |
0.94 |
|
|||
|
|
||||||||
2019 |
102.0 |
2.0 |
0.98 |
|
|||||
|
|
||||||||
|
January |
100.9 |
3.0 |
0.7 |
0.99 |
|
|||
|
February |
100.9 |
2.6 |
0.0 |
0.99 |
|
|||
|
March |
100.8 |
2.2 |
-0.1 |
0.99 |
|
|||
|
April |
101.5 |
2.2 |
0.7 |
0.99 |
|
|||
|
May |
101.7 |
2.4 |
0.2 |
0.98 |
|
|||
|
June |
101.5 |
2.0 |
-0.2 |
0.99 |
|
|||
|
July |
102.1 |
2.6 |
0.6 |
0.98 |
|
|||
|
August |
102.2 |
1.7 |
0.1 |
0.98 |
|
|||
|
September |
102.4 |
0.0 |
0.2 |
0.98 |
|
|||
|
October |
102.4 |
-0.2 |
0.0 |
0.98 |
|
|||
|
November |
103.5 |
1.6 |
1.1 |
0.97 |
|
|||
|
December |
103.8 |
3.6 |
0.3 |
0.96 |
|
|||
|
|
||||||||
2018 |
100.0 |
1.00 |
|
||||||
|
|
||||||||
|
January |
98.0 |
1.02 |
|
|||||
|
February |
98.3 |
0.3 |
1.02 |
|
||||
|
March |
98.6 |
0.3 |
1.01 |
|
||||
|
April |
99.3 |
0.7 |
1.01 |
|
||||
|
May |
99.3 |
0.0 |
1.01 |
|
||||
|
June |
99.5 |
0.2 |
1.01 |
|
||||
|
July |
99.5 |
0.0 |
1.01 |
|
||||
|
August |
100.5 |
1.0 |
1.00 |
|
||||
|
September |
102.4 |
1.9 |
0.98 |
|
||||
|
October |
102.6 |
0.2 |
0.97 |
|
||||
|
November |
101.9 |
-0.7 |
0.98 |
|
||||
|
December |
100.2 |
|
|
|
-1.7 |
|
1.00 |
|
TECHNICAL NOTES
Consumer Price index (CPI) – The CPI is an indicator of the changes in the average retail prices of a fixed basket of goods and services commonly purchased by households relative to a base year.
Used of CPI – The computation of the CPI involves consideration of the following important points:
a. Base Period – The reference data or base period is the benchmark or reference date or period at which the index is taken as equal to 100.
b. Market Basket - A sample of the thousands of varieties of goods purchased for consumption and services availed by the households in the country selected to represent the composite price behavior of all goods and services purchased by consumers.
c. Weighing System – The weighing pattern uses the expenditures on various consumer items purchased by households as a proportion to total expenditure.
d. Formula – The formula used in computing the CPI is the weighted arithmetic mean of price relatives, the Laspeyre’s formula with a fixed base year period (2018) weights.
e. Geographic Coverage – CPI values are computed at the national, regional, and provincial levels, and for selected cities.
Inflation Rate (IR) – is the rate of change of the CPI expressed in percent. Inflation is interpreted in terms of declining purchasing power of peso.
Purchasing Power of Peso (PPP) – shows how much the peso in the base period is worth in the current period. It is computed as the reciprocal of the CPI for the period under review multiplied by 100.
Approved for released:
(SGD) RUEL L. DRES
Chief Statistical Specialist