Agusan del Sur posts 3.6 percent Inflation rate
Agusan del Sur concluded the month of May 2022 with 3.6 percent inflation rate. This is higher compared to its previous month’s inflation rate which was recorded at 2.3 percent. The same upward trend is observed in Caraga region’s inflation rate of 5.1 percent. This is higher than the previous month’s regional inflation rate of 4.4 percent.
Figure 1. Inflation Rates in Agusan del Sur: January to May 2021 and 2022
Table 1. Inflation Rates in Caraga Region by Province/HUC: April 2022 and May 2022
For the reference month, Agusan del Sur manifested a significant increase in its inflation rate. However, it has the lowest rate compared to four other provinces in the region.
Table 2. Year-on-Year Inflation Rates in Percent by Commodity Group: Agusan del Sur April & May 2022 (2018=100)
Among the different Commodity Groups, Transport and Alcoholic Beverages and Tobacco showed significant increases in inflation. For the reference month, transport got 13.7 percent from 13.0 percent and Alcoholic Beverages and Tobacco hit 5.8 percent from 3.5 percent in the previous month. On the other hand, the commodity group which registered the lowest inflation for this period is Health at -0.1 percent from 0.1 in May 2021 while the Education Services and Financial Services displayed no increases.
The inflation rate is an indicator derived from the Consumer Price Index. Decreasing inflation rate do not necessarily connote that prices are falling. Instead, it means that prices continue to increase at a slower rate.
May 2022 CPI climbs by 14.5 index points
The Consumer Price Index (CPI) for all items in all Income households in Agusan del Sur for May 2022 is 114.5. This is 4.0 percentage points higher than the CPI during the same month last year which was recorded at 110.5. Moreover, the current CPI in the province is higher by 1.3 percentage points as compared to the CPI of 113.2 in April 2022.
Agusan del Sur’s CPI for the reference period means that consumer prices, on the average, have increased by 14.5 index points from the same month of 2018 (base year).
Table 3. Consumer Price Index, All Income Household in Agusan del Sur: May 2022 (2018 = 100)