1. Caraga 

The headline inflation in Caraga increased further to 7.1 percent in July 2022, from 6.5 percent in June 2022 and 3.9 percent in July 2021. This is the highest recorded inflation since January 2019 in the region. Average inflation from January to July 2022 was posted at 5.0 percent. (Table A and B and Figure 1) 

The increase in the region’s inflation was mainly brought by the higher increase in the index for food and non-alcoholic beverage at 8.3 percent, from 6.8 percent in the previous month. Also contributing to the uptrend in the overall inflation during the period were the higher increments in the indices of the following commodity groups as compared with their previous month’s inflation rates: 

   a. Alcoholic Beverages and Tobacco, 8.2 percent; 

   b. Furnishing, Household Equipment and Routine Household Maintenance, 1.5 percent;

    c. Recreation, sport and culture, 2.1 percent; 

   d. Restaurants and accommodation services, 4.7 percent; and 

   e. Personal care, and miscellaneous goods and services, 1.7 percent. 

On the other hand, the annual mark-up in the indices of transport and health decreased to 14.8 percent and 0.8 percent, respectively. Further, the same inflation rates from their previous month’s rates were recorded in the indices of clothing and footwear, housing, water, electricity, gas and other fuels, information and communication, education services, and financial services. (Tables C)

For food index, it increased further by 8.7 percent in July 2022, from 7.2 percent in June 2022 and 4.5 percent in June 2021. (Table D)

The acceleration in the food inflation was primarily influenced by the higher annual growth in the meat and other parts of slaughtered land animals index at 17.7 percent, from 11.7 percent in the previous month. Also contributing to the uptrend in the food inflation were fish and other seafood index at 10.0 percent, from 6.5 percent in June 2022. Further, the following food groups have higher increments during the month:

   a. Corn, 4.0 percent; 

   b. Flour, bread and other bakery products, pasta products, and other cereals, 5.0 percent; 

   c. Oils and fats, 11.6 percent; 

   d. Fruits and nuts, 8.9 percent; 

   e. Sugar, confectionery, and desserts, 21.7 percent; and 

   f. Ready-made food and other food products n.e.c., 6.9 percent;

On the other hand, rice and vegetables, tubers, plantains, cooking bananas and pulses registered a lower annual upticks at 2.0 percent and 16.9 percent, respectively. (Table D)

2. Provinces and HUC

In comparison with their annual growth rates in June 2022, four provinces and one highly urbanized city in the region registered an acceleration in inflation rates during the reference month. On the contrary, Surigao del Norte’s inflation rate slowed down at 5.9 percent, from 7.2 percent in the previous month. 

In Caraga, the Province of Dinagat Islands registered the highest inflation rate at 11.0 percent while Agusan del Sur registered the lowest inflation rate at 5.4 percent in July 2022. (Table E)

Note:

     CPIs and inflation rates by province and selected city are posted at the PSA website (http://openstat.psa.gov.ph/).

(Sgd.)ROSALINDA C. APURA, D.M. 

Regional Director 

PSA RSSO XIII (Caraga)