Summary Inflation Report Consumer Price Index (2018=100): Surigao del Norte, May 2022

Reference Number: 

2022-001

Date Released: 

June 8, 2022

Date of Release: June 8, 2022
Reference No. 2022-001

Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index
             
Philippine Statistics Authority
             
*Year-on-year change of average CPI for January to May, 2022 vs 2021

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

Headline Inflation

The headline inflation in the province of Surigao del Norte increased further to 5.5 percent in May 2022, from 4.9 percent in April 2022.  The inflation in May 2021 was higher at 5.6 percent.  The average inflation for the first five months of the year stood at 4.0 percent.  The headline inflation of the province is the second highest recorded inflation since April 2021. (Table A and Figure 1)

For comparison, the provincial headline inflation is higher than the regional headline inflation in May 2022 at 5.1 percent and close to the national headline inflation for the same month at 5.4 percent.

Year-on-Year Changes of the Consumer Price Index

The increase in the inflation of the province was mainly brought about by the higher annual increase in the index of the four commodity groups, namely, transport at 10.8 percent; housing, water, electricity, gas, and other fuels at 6.4 percent; food and non-alcoholic beverages at 6.2 percent; and alcoholic beverages and tobacco at 5.1 percent.

On the other hand, commodity groups that have annual upticks slowed down in comparison with the inflation rates of the previous month were in the indices of:

  1. restaurants and accommodation services at 0.8 percent;
  2. furnishing, household equipment, and routine household maintenance at 0.4 percent; and
  3. health at 0.4 percent.

The rest of the commodity groups either retained their previous month’s inflation rates or had zero percent annual growth rates. (Table 3)

Food Index

Looking at food index, it increased further by 6.6 percent in May 2022, from 6.3 percent in the previous month.  In May 2021, food index was lower at 3.4 percent.  (Table 7)

The annual growth rate of the vegetables, tubers, cooking bananas, and pulses index went up to 23.8 percent, from 20.5 percent in the previous month.  Similarly, another double-digit growth rate was recorded in fish and other seafood index at 13.8 percent.

The following food groups exhibited higher annual increments during the month in comparison with the previous month:

  1. meat and other parts of slaughtered land animals at 8.7 percent;
  2. sugar, confectionery and desserts at 5.0 percent;
  3. ready-made food and other food products N.E.C. at 4.1 percent;
  4. flour, bread and other bakery products, pasta products, and other cereals at 4.0 percent;
  5. fruits and nuts at 1.5 percent; and
  6. oils and fats at 0.7 percent.

Milk, other dairy products, and eggs remained at 0.4 percent.  In contrast, the corn index had a lower annual uptick at 4.5 percent while the rice index registered an annual decline at -2.6 percent. (Table 5)

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

 

 

Approved for release:

 

 

 

(SGD) GUILLERMO M. LIPIO, JR.
Provincial Statistics Officer
PSA Surigao del Norte

Provincial Release Tags: 

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