Ifugao Consumer Price Index as of February 2020

Reference Number: 

2SR–2020–002

Release Date: 

Thursday, March 12, 2020

Ifugao CPI at 119.8 in February 2020

Survey of Retail Prices of Commodities conducted by Philippine Statistics Authority (PSA) has generated a Consumer Price Index (CPI) of 119.8 for Ifugao as of February 2020, using 2012 as the base year. This indicates that the average cost of a basket of goods and services commonly purchased by a typical Filipino household in the different municipalities of Ifugao did not moved during the reference month. This is 0.0 index points compared in January 2020 with CPI = 119.8 and 2.10 index points higher a year ago.

Table 1. Monthly Consumer Price Index for All Income Households by Commodity Group,
Ifugao: February 2020 - January 2020 (2012 = 100)
 
Commodity Group February 2020 February 2019 January 20202 January 2019
All Items 119.8 117.9 119.8 117.7
Food and Non Alcoholic Beverages 115.8 116.5 116.2 116.9
Alcoholic Beverages and Tobacco 237.2 209.5 230.6 198.9
Clothing and Footwear 130.9 124.8 130.5 124.5
Housing, Water, Electricity, Gas and other fuels 128.2 124.9 127.1 124.3
Furnishing, Hosuehold Equipment and Routine Maintenance of the House 114.9 112.5 114.8 112.6
Health 131.4 125.6 131.4 125.0
Transport 105.3 104.0 106.1 102.7
Communication 101.5 101.0 101.5 101.0
Recreation and Culture 109.7 106.6 109.6 106.6
Education 107.1 100.0 107.1 100.0
Restaurant and Miscellaneous Goods and Services 119.0 114.1 118.8 113.9
Source: Philippine Statistics Authority
 
Figure 1 shows that commodity under the groups of the Alcoholic beverages and tobacco, Health, Clothing & footwear and Housing, water, electricity, gas and other fuel had the highest corresponding CPI’s of 237.2, 131.4, 130.9 and 128.2 in February 2020, respectively. These four commodity groups have CPI’s higher than the total average CPI of all items in the province.
 
On the other hand, Education and Communication with CPI’s 107.1 and 101.5, respectively, have no significant changes across the months. These mean that price of Education did not moved from the past month and cost of communication in the province slightly moved from the base year.
Figure 1. Consumer Price Index for All Income Households in
Ifugao: February 2020 (2012=100)
 
 
The average headline Inflation Rate (IR) in Ifugao deccelarated to 1.6 percent as of February 2020 as compared to the same period in the previous year. As shown in Figure 2, the trend has been decreasing and the result for February 2020 posted 0.2 percent decreased from the previous month.
 
As shown in Table 2, Alcoholic beverages and tobacco (2.9 percent) and Housing, water, electricity, gas, and other fuels (0.9 percent) were the commodity groups that posted the higher growth rates in
February 2020, respectively. On the other hand, Alcoholic beverages and tobacco had the most rapidly changing average price between the month of February 2020 and January 2020 with an increased of 2.7 percentage points.
 
Figure 2. Year-on-Year Headline Inflation Rate, All Items by Commodity Group, Ifugao,
February 2019 - February 2020 (2012 = 100)
 
 
 
Table 2. Month-on- Month Headline Inflation Rate, All items by Commodity Group,
Ifugao: February 2020 - January 2020 (2012=100)
 
Commodity Group February 2020 January 2020
All Items 0.0 0.3
Food and Non Alcoholic Beverages -0.4 0.2
Alcoholic Beverages and Tobacco 2.9 0.2
Clothing and Footwear 0.3 0.2
Housing, Water, Electricity, Gas and other fuels 0.9 0.6
Furnishing, Hosuehold Equipment and Routine Maintenance of the House 0.1 0.3
Health 0.0 0.4
Transport -0.8 0.3
Communication 0.0 -0.1
Recreation and Culture 0.1 0.6
Education 0.0 0.0
Restaurant and Miscellaneous Goods and Services 0.2 0.2
Source: Philippine Statistics Authority
 
PURCHASING POWER OF PESO (PPP)
 
Purchasing Power of the Peso (PPP) is inversely related to inflation rate. Hence, as the inflation rate increases, PPP declines. The average PPP in Ifugao in 2019 is at 0.85. This implies that Php 1.00 in 2012, as the base year, values only Php 0.85 in 2019. As a result of the price changes reflected in the CPI, the provincial Purchasing Power of the Peso slightly declined at 0.83 as shown in figure 3.
 
Figure 3. Monthly Purchasing Power of Peso in Ifugao:
February 2019 – February 2020 (2012=100)
 

Tags: 

Attachments: