The headline inflation in the province of Agusan del Sur increased further to 6.0 percent in August 2023 from 5.8 percent in July 2023. This is 2.0 % higher as compared to previous month of this year. Inflation in August 2022 was higher at 6.2 percent. The average inflation for the whole year stood at 7.3 percent for the first eight months in the year.
The headline inflation in Caraga increased to 4.4 percent in August 2023, from 3.8 percent in July 2023. This brings the regional average inflation from January to August 2023 to 6.0 percent. In August 2022, the inflation rate was higher at 7.5 percent.
The headline inflation in Caraga slowed down further to 3.8 percent in July 2023, from 4.7 percent in June 2023. This is the fifth consecutive month of deceleration in headline inflation and the lowest since February 2022. The average inflation rate from January to July 2023 stood at 6.2 percent. In July 2022, the inflation rate was higher at 7.1 percent.
The number of constructions in the region posted a total of 959 in the second quarter of 2022. This represents a growth of 127.8 percent from the 421 total constructions in the same quarter of 2021.
Poverty incidence among the population is defined as the proportion of Filipinos whose per capita income cannot sufficiently meet their individual basic food and non-food needs. Based on the Preliminary Results of the Family Income and Expenditure Survey (FIES) in 2021, the poverty incidence among the population in Caraga was estimated at 33.2 percent. This means that 1 out of 3 Caraganon belonged to the poor population whose income was below the amount needed to buy their basic food and non-food needs.
The average income of Caraganon families from January to December 2021 was estimated at PhP 249.77 thousand. This was higher by 2.8 percent than the PhP 242.75 thousand average family income in the same period of 2018.
The headline inflation in Caraga slowed down further to 5.4 percent in May 2023, from
6.2 percent in April 2023. The inflation rate in May 2022 was lower at 5.1 percent. The average inflation for January to May 2023 stood at 7.1 percent.
The headline inflation in Caraga slowed down to 7.3 percent in March 2023, from 8.3 percent in February 2023. The inflation rate in March 2022 was lower at 3.9 percent. The average inflation for the first quarter of 2023 stood at 7.9 percent.
