1. Caraga

The headline inflation in Caraga increased to 7.4 percent in December 2022, from 7.3 percent in November 2022 and 4.5 percent in December 2021. The average inflation from January to December 2022 was posted at 6.1 percent. (Table A and B and    Figure 1)

The higher inflation in the region was mainly brought by the faster year-on-year growth rate in the index of housing, water, electricity, gas, and other fuels at 8.3 percent, from 7.9 percent in the previous month. This was followed by food and non-alcoholic beverages whose inflation rate accelerated to 9.6 percent, from 9.5 percent in the previous month, and clothing and footwear at 2.6 percent, from 2.1 percent in November 2022. 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:

1. Furnishings, household equipment, and routine household maintenance, 1.7 percent; and

2. Health, 1.7 percent.

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

1. Alcoholic beverages and tobacco, 9.8 percent;

2. Information and communication, 0.5 percent; 

3. Recreation, sport and culture, 3.4 percent;

4. Education services, 3.5 percent;

5. Restaurants and accommodation services, 7.5 percent;

6. Financial services, 0.0 percent; and

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

On the other hand, a lower year-on-year growth rate was noted in the index of transport at 5.6 percent, from 5.8 percent in November 2022.

Moreover, the same inflation rate as the previous month’s rate was observed in the food index at the regional level. In November and December 2022, it recorded 10.0 percent while 5.3 percent in December 2021. (Table D)

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

1.        Rice, 3.5 percent;

2.        Flour, bread and other bakery products, pasta products, and other cereals, 8.1 percent;

3.        Oils and fats, 11.8 percent; 

4.        Vegetables, tubers, plantains, cooking bananas and pulses, 20.6 percent; and

5.        Ready-made food and other food products n.e.c, 8.6 percent.

    d.   Corn, 12.1 percent;

On the contrary, the following food groups recorded a lower annual increase compared to its previous month’s inflation:

1.        Meat and other parts of slaughtered land animals, 18.0 percent;

2.        Fish and other seafood, 6.3 percent;

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

4.        Fruits and nuts, 9.9 percent; and

5.        Sugar, confectionary and desserts, 47.3 percent. 

2. Provinces and HUC

In comparison with their annual growth rates in November 2022, the provinces of Agusan del Norte, Dinagat Islands, and the City of Butuan (HUC) registered a deceleration in their inflation rates during the reference month. On the contrary, Agusan del Sur, Surigao del Norte, and Surigao del Sur’s inflation rates accelerated to 8.3 percent, 7.3 percent, and 7.0 percent, respectively. 

In Caraga, the Province of Dinagat Islands registered the highest inflation rate at 9.3 percent while Agusan del Norte registered the lowest inflation rate at 6.8 percent in December 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)