The February 2022 Consumer Price Index (CPI) for all items in Caraga reached 113.8 index points. This shows that the average retail prices of commodities in the market basket were higher by 13.8 percent compared to its prices in 2018 as a reference base year. This month’s CPI for all goods and services was higher by 3.7 index points than the 110.1 CPI in February 2021. (Table 1)

All commodity groups posted increases in CPI compared to their previous year’s CPI (February 2021) except for Education Services. Among these commodity groups, Alcoholic Beverages and Tobacco had the highest CPI in the region with 146.4 index points. Financial Services followed it with 144.8 index points. (Table 1)

In February 2022, Financial Services had the highest inflation rate among the commodity groups with 44.8 percent. This was identical with its inflation rate of 44.8 percent in January 2022. On the contrary, Education Services had the lowest inflation rate at 0.0 percent.

The inflation rate for all items in the region was recorded at 3.4 percent in February 2022. This means that the average prices of goods and services had increased by 3.4 percent compared to its average retail prices in February 2021. (Figure 2)

From February 2021 to February 2022, the lowest inflation rate was recorded in September 2021 at 3.3 percent. The highest inflation rate was in February 2021 at 4.9 percent.

Among the five provinces of Caraga, Dinagat Islands posted the highest inflation rate of 5.4 percent in February 2022. It was followed by Butuan City and Agusan del Norte with 4.6 and 4.0 percent, respectively. Agusan del Sur had the lowest with 1.7 percent. 

Caraga’s CPI for the month of February 2022 increased to 113.8 from 110.1 in February 2021. This translated into a 3.4 percent inflation rate. The region’s monthly purchasing power of peso was pegged at eighty-eight centavos.

Agusan del Norte’s CPI for the month of February 2022 was recorded at 112.4. This translated to an inflation rate 4.0 percent. The month’s purchasing power of peso was pegged at eighty-nine centavos. 

In Agusan del Sur, the CPI for the month of February 2022 was recorded at 112.4. This translated to an inflation rate of 1.7 percent. The month’s purchasing power of peso was pegged at eighty-nine centavos.

In Dinagat Islands, the CPI in February 2022 was 119.9. This translated to an inflation rate of 5.4 percent. The month’s purchasing power of peso was pegged at eighty-three centavos.

Surigao del Norte’s CPI in February 2022 was 116.2. This translated to an inflation rate of 3.0 percent. The month’s purchasing power of peso was pegged at eighty-six centavos. 

Surigao del Sur’s CPI in February 2022 was 113.1. This translated to an inflation rate of 3.8 percent. The month’s purchasing power of peso was pegged at eighty-eight centavos. 

Butuan City’s CPI in February 2022 was 113.3. This translated to an inflation rate of 4.6 percent. The month’s purchasing power of peso was pegged at eighty-eight centavos. 

TECHNICAL NOTES

The Philippine Statistics Authority generates and announces the monthly 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.ph