Summary Inflation Report Consumer Price Index (2018=100) October 2022

Release Date :

 

 

 

 

  1. Caraga

 

The headline inflation in Caraga decreased to 7.8 percent in October 2022, from 8.2 percent in September 2022 but increased from 3.4 percent in October 2021. The average inflation from January to October 2022 was posted at 5.8 percent. (Table A and B and Figure 1)

 

The decline in the region’s inflation was mainly brought by the lower index for transport at 6.9 percent, from 10.5 percent in September 2022. (Table C)

 

Further, the same inflation rate from its previous month’s rate was recorded in the indices of the following commodity groups:

 

  1. Food and non-alcoholic beverages, 9.7 percent;

  2. Housing, water, electricity, gas and other fuels, 9.4 percent; 

  3. Furnishings, household equipment and routine household maintenance, 1.6 percent;

  4. Information and communication, 0.6 percent;

  5. Education services, 3.5 percent;

  6. Financial services, 0.0 percent; and 

  7. Personal care, and miscellaneous goods and services, 2.4 percent.

 

On the other hand, an increase in the indices of the following commodity groups was noted during the reference month:

 

  1. Alcoholic beverages and tobacco, 10.2 percent;

  2. Clothing and footwear, 1.9 percent;

  3. Health, 1.7 percent;

  4. Recreation, sport and culture, 3.5 percent; and

Restaurant and accommodation services, 7.8 percent.

 

 

For food index, it decreased to 10.2 percent in October 2022, from 10.3 percent in September 2022 but increased from 3.3 percent in October 2021. (Table D)

 

The deceleration in the food inflation was primarily influenced by the lower annual growth in the fish and other seafood index at 8.8 percent, from 11.4 percent in the previous month. (Table D)

 

Further, the following food groups have lower increments during the month: 

 

  1.        Rice, 3.3 percent;

  2.        Corn, 10.5 percent;

  3.        Oils and fats, 12.2 percent; and

  4.        Ready-made food and other food products n.e.c, 7.8 percent.

 

On the contrary, the following food groups registered a higher annual uptick compared to its previous month’s inflation:

 

  1.      Flour, bread and other bakery products, pasta products, and other cereals, 7.5 percent;

  2.      Meat and other parts of slaughtered land animals, 18.7 percent;

  3.      Milk, other dairy products and eggs, 5.0 percent;

  4.      Fruits and nuts, 16.7 percent;

  5.      Vegetables, tubers, plantains, cooking bananas and pulses, 15.0 percent; and

  6.      Sugar, confectionary and desserts, 44.4 percent. 

 

                           2. Provinces and HUC

 

 

In comparison with their annual growth rates in September 2022, the provinces of Agusan del Norte, Surigao del Norte and Surigao del Sur, and the City of Butuan (HUC) registered a deceleration in its inflation rates during the reference month. On the other hand, Agusan del Sur and Dinagat Islands’ inflation rates in October 2022 accelerated to 8.2 percent and 9.6 percent, respectively. 

 

In Caraga, the Province of Dinagat Islands registered the highest inflation rate at 9.6 percent while Surigao del Norte registered the lowest inflation rate at 5.9 percent in October 2022. (Table A)

Note:

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

 

 

(Sgd.)ROSALINDA C. APURA, D.M.
Regional Director

PSA RSSO XIII (Caraga)