CPI Releases

October 2020 Price Situation in the Cordillera (Base Year: 2012)

Reference Number: SR 2020-51
Release Date: December 2020

Consumer Price Index

  • Consumer Price Index (CPI) is the general measure of the change in the average retail prices of a market basket or collection of goods and services commonly purchased by the average Filipino household.
  • The CPI of the Cordillera Administrative Region (CAR) in October 2020 was 121.7. This was higher by 0.4 index points from the 121.3 CPI of October 2019 using 2012 as base year.
  • In general, the CPI increased reflecting the rise in the average prices of goods and services in all the six provinces of CAR.
Figure 1. Consumer Price Index by Province,
CAR: October 2020 (2012=100)
 
  • Among the CAR provinces, Apayao posted the highest CPI for October 2020 at 127.2, followed by Kalinga at 126.5, and Benguet and Ifugao at 121.3 while Mountain Province posted the lowest CPI at 119.1.

CPI by Commodity Groups

  • Among the commodity groups, Alcoholic Beverages and Tobacco had the highest CPI in the region with 246.4 index points. The province of Apayao incurred the highest CPI on this commodity with 424.0 index points, followed by Abra, Kalinga, and Ifugao at 342.6, 315.9, and 255.3 index points, respectively.
  • Clothing and Footwear ranked second among the commodity groups in the region for October 2020 at 129.8 index points. Among the provinces, Kalinga had the highest index on clothing and footwear at 138.5, while Abra had the lowest at 124.5 index points.
  • Education registered the third highest CPI at 128.9 index points. Kalinga recorded the highest index on education at 193.9, followed by Mountain Province and Benguet at 129.4 and 128.5 index points, respectively.
  • Communication incurred the lowest CPI among the commodity groups in the region during the month of October 2020 with 102.4 index points. The province of Abra incurred the highest index on communication with 105.0 index points, while Mountain Province had the lowest with 98.0 index points.
  • Among the CAR provinces, Kalinga incurred the highest CPI for all items with 126.4, while Mountain Province garnered the lowest index at 119.2 in October 2020.
Figure 2. Consumer Price Index by Commodity Group and by Province,
CAR: October 2020 (2012=100)
 
  • By index point change, Alcoholic Beverages and Tobacco recorded the highest increase at 21.0 index points. Increases were also incurred in Restaurant (5.1 points), Clothing and Footwear (4.4 points), and Furnishing, Household Equipment and Routine Maintenance of the House (2.7 points). The rest of the commodity groups reported minimal annual increases.
Figure 3. Year-on-Year Consumer Price Index by Commodity Group,
CAR: October 2019 and 2020 (2012=100)
 
Inflation Rate
 
  • The average increase in the prices of goods and services in the region increased to 1.5% in October 2020 from the 1.2% in October 2019.
  • Apayao posted the highest inflation rate in October 2020 with 3.8%, followed by Abra with 2.6%. Mountain Province incurred the least inflation with 0.8% among all provinces.
  • Only the province of Mountain Province had lower inflation rate for October 2020 compared to October 2019. All remaining provinces incurred higher inflation rate for October 2020 compared October 2020.
Figure 4. Year-on-Year Inflation Rates by Province,
CAR: October 2019 and 2020 (2012=100)
 
 
By Commodity Group
 
  • Inflation rate of the heavily-weighted Food and Non-Alcoholic Beverages index in the region decreased by 0.5 percentage point from the September 2020 rate of 1.9 to 1.4 in October 2020.
  • Alcoholic Beverages and Tobacco remained to have the highest inflation in October 2020 among other commodities in the region with 9.3%, followed by Restaurant and Miscellaneous Goods & Services with 4.3% and Clothing and Footwear with 3.5%.

Figure 5. Inflation Rates by Commodity Groups, CAR: October 2020 (2012=100)

  • Among all other commodities, Transport incurred the lowest inflation rate with negative 1.8%.

By Food Items, Year-on-Year

  • Among the food items, Corn recorded the highest CPI in the region in October 2020 with 174.0. This was followed by Fruits, Fish, and Meat with 146.3, 136.5, and 128.2 index points, respectively.
  • By index point change, Vegetables recorded the highest by negative 16.2. Corn followed with 9.7 index point increase followed by Fish with 8.5.
Figure 6. Year-on-Year CPI and Inflation Rates of Selected Food Items,
CAR: October, Year 2019 and 2020 (2012=100)
Purchasing Power of the Peso (PPP)
  • The value of 1 peso in the region was 82 centavos in October 2020. It dropped by one centavo from 83 centavos in October 2019. This can be translated that hundred pesos in 2012 was worth 82 pesos in October 2020.
  • Also, a basket of goods that can be bought with 100 pesos in December 2012 is worth 121.7 pesos in October 2020.
  • The PPP in all the provinces generally weakened in October 2020 compared to the same month of the previous year.
  • Mountain Province had the highest peso value with 84 centavos, followed by Abra with 82 centavos. Meanwhile, Kalinga and Apayao had the lowest peso value with 79 centavos.
Figure 7. Worth of a Hundred Pesos by Province,
CAR: October 2019 and October 2020 (2012=₱100)
 

Archive

February 2021 CPI Table

CPI Inflation PPP
CAR 125.70 4.10 80.00
Abra 122.40 3.80 82.00
Apayao 128.20 3.60 78.00
Benguet 125.70 4.10 80.00
Ifugao 126.50 5.60 79.00
Kalinga 133.80 6.00 75.00
Mt. Province 122.20 2.90 82.00

CPI Infographics

Technical Notes

Consumer Price Index (CPI) is a general measure of the change in the average retail prices of a market basket or collection of goods and services commonly purchased by the average Filipino household.
 
Inflation Rate (IR) is the rate of change in the average price level between two periods (yearon year/month-on-month as measured by the CPI).
 
Purchasing Power of the Peso (PPP) measures how much the peso in the reference year is worth in another year.
 
Base Year (BY) is the reference point of the index number series, at which the index number is set to 100. It is the reference point of the index number series.
 
The CPI is now rebased to 2012 base year from the current 2006 base year. The year 2012 was chosen as the next base year because it was the latest year when the Family Income and Expenditure Survey (FIES) results were made available. It is also the synchronized rebasing of the price indices to base year 2006 and every six years thereafter.
 
Rebasing CPI is necessary to ensure that this barometer of economic phenomena is truly reflective of current situation. Consumer taste, fashion and technology change over time causing the fixed market basket of goods and services to become outmoded. To capture such changes for a more meaningful price comparison, revision or updating of the fixed market basket, sample outlets, weights, and base year had to be done periodically. The CPI is an indicator that derives its usefulness in its representation of how much a typical market basket behaves over a specific period.
 
Market Basket (MB) is a sample of goods and services used to represent all goods and services produced or bought.