In May 2021, the Consumer Price Index (CPI) for all items in Caraga region was registered at 128.2 index points. This indicates that the average retail price of commodities that were included in the market basket for all goods and services during the month under review was higher by 28.2 percent compared to its prices in 2012 as reference base year. This month’s CPI was higher by 5.5 index points than the         122.7 CPI in May 2020. (Table 1) 

All commodity groups posted increases in CPI compared to its previous year’s CPI (May 2020). Among these commodity groups, Alcoholic Beverages and Tobacco had the highest CPI in the region with 219.7 index points. (Table 1)

The inflation rate for all items in the region was recorded at 4.5 percent in May 2021. This means that the average prices of goods and services during the month had increased by 4.5 percent compared to its average prices in May 2020. (Figure 1)

In May 2021, Alcoholic Beverages and Tobacco had the highest inflation rate among the commodity groups with 13.8 percent. This was lower by 1.2 percentage points compared to its inflation rate of 15.0 percent in April 2021. On the contrary, Communication had the lowest inflation rate at 0.6 percent. (Figure 1)

From May 2020 to May 2021, the lowest inflation rate was recorded in December 2020 at 2.2 percent. The highest inflation rate was in February 2021 at 4.7 percent (Fig. 2)

From May 2020 to May 2021, the lowest inflation rate was recorded in December 2020 at 2.2 percent. The highest inflation rate was in February 2021 at 4.7 percent (Fig. 2)

Surigao del Norte’s consumer price index in May 2021 was 131.6. This translated to an inflation rate of 5.5 percent. The month’s purchasing power of peso was pegged at seventy-six centavos. 

Surigao del Sur’s consumer price index in May 2021 was 131.3. This translated to an inflation rate of 3.1 percent. The month’s purchasing power of peso was pegged at seventy-six centavos. 

TECHNICAL NOTES

The Philippine Statistics Authority generates and announces the monthly Consumer Price Index (CPI) based on the nationwide survey of prices for a given basket of goods and services. Two important indicators, the inflation rate and purchasing power of the peso (PPP), are derived from the CPI which is important in monitoring price stability and the value of the country’s currency.

The Consumer Price Index (CPI) is an indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by an average Filipino household. It shows how much on the average, prices of goods and services have increased or decreased from a particular reference period known as base year.

Inflation rate is an indicator derived from the CPI. It refers to the annual rate of change or the year-on-year change of the CPI expressed in percent. Inflation is interpreted in terms of declining purchasing power of money. 

The Purchasing Power of the Peso (PPP) indicates the value of the peso in the period under review as compared to the value of the peso in the base period. It is computed as the reciprocal of the CPI for the period under review multiplied by 100.

Approved by:

(Sgd.)ROSALINDA CELESTE-APURA, D.M.

Regional Director

Philippine Statistics Authority - RSSO XIII

Tel. No.: (085) 225-5219/ Telefax No.: (085) 815-4935

Email add: psacaraga_rsso13@yahoo.com