Summary Inflation Report Consumer Price Index (2018=100) November 2023

Headline Inflation

The headline inflation in the province of Agusan del Sur increased to 5.3 percent in November 2023 from 4.9 percent in October 2023. This is 0.4 % higher as compared to previous month of this year. Inflation in November 2022 was higher at 7.9 percent. The average inflation for the whole year stood at 6.8 percent for the first eleven months in the year. (Table A and Figure 1)

The provincial headline inflation is higher compared to the regional headline inflation in November 2023 at 4.1 percent and similar with the country’s inflation for the same month at 4.1 percent.

Year-on-Year Changes of the Consumer Price Index

The increase in the inflation of the province was mainly brought about by the higher annual increase in the indices of housing, water, electricity, gas and other fuels, (3.2) percent; information and communication, (3.3) percent; personal care, miscellaneous goods and services, (6.7) percent and alcoholic beverages and tobacco, (10.4) percent.

On the other hand, annual indices in the commodity groups on food and non-alcoholic beverages, (8.3) percent; clothing and footwear, (7.4) percent; health (3.9) percent and recreation, sport and culture, (8.4) percent went down in comparison with its inflation rate in the previous month.

The rest of the commodity groups either retained their previous month’s inflation rates or had zero percent annual growth rate.

Food Index

For the food index, it decreased at 8.4 percent in November 2023 from 8.5 percent in October 2023. In November 2022, food index was higher at 10.4 percent.
The decrease was due to the lower annual indices of fruits and nuts, 9.8 percent; vegetables, tubers, plantains, cooking bananas and pulses at 4.9 percent; sugar, confectionary and desserts, (5.7) percent and cereal and cereal products, 17.7 percent.
Meanwhile, the indices of meat and other parts of slaughtered land animals; fish and other seafoods; oils and fats and ready-made food and other food products n.e.c registered higher annual increases.

Note: CPIs and inflation rates in the province are posted at the PSA website (http;//openstat.psa.gov.ph/)

(Sgd.)DEMETRIO T. DEJOLDE JR.
Supervising Statistical Specialist, OIC