Ifugao Consumer Price Iindex as of October 2019

Release Date: 

Tuesday, January 14, 2020

Reference Number: 

10SR–2019–010

Ifugao CPI at 118.4 in October 2019

Survey of Retail Prices of Commodities conducted by Philippine Statistics Authority (PSA) has generated a Consumer Price Index (CPI) of 118.4 for Ifugao as of October 2019, 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 increased during the reference month. This is 0.70 index points higher than September 2019 with CPI = 117.5 and 2.2 index points higher a year ago.  

Table 1. Monthly Consumer Price Index for All Income Households by Commodity Group,
Ifugao, CAR:  October 2019 and September 2019 (2012 = 100)

Commodity Group Oct 2019 Oct 2018 Sept 2019 Sept 2018
All Items 118.4 116.2 117.5 113.6

        Food and Non - Alcoholic
         Beverages

115.3 117.3 114.3 113.1

        Alcoholic Beverages and
        Tobaco

220.4 183.7 216.4 182.7
        Clothing and Footwear 128.4 120.3 128.0 120.1

         Housing, Water, Electricity,
         Gas and Other Fuels

125.7 122.4 124.2 121.6
          Furnishing, Household
          Equipment and Routine
          Maintainance of the House
113.2 121.4 113.0 121.4
         Health  129.3 106.0 128.3 106.0
         Transport 105.8 102.9 105.0 100.8
         Communication 101.0 101.0 101.0 101.4
         Recreation and Culture 108.3 106.1 108.0 106.1
         Education 107.1 100.0 107.1 100.0
         Restaurants and
          Miscellaneous Goods
          and Services
115.9 112.4 115.8 111.3
                  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 220.4, 129.3, 128.4 and 127.7 in October 2019, respectively. These four commodity groups have CPI’s higher than the total average CPI of all items in the province.

On the other hand, Transportation and Communication with CPI’s 105.8 and 101.0, respectively, have no significant changes across the months. These mean that price of Transportation increased by 5.8 percent since 2012 and cost of communication in the province slightly moved from the base year.

Figure 1. Consumer Price Index of All Income Households in 
 Ifugao, CAR: October 2019 (2012=100)

INFLATION RATE

The average headline Inflation Rate in Ifugao deccelarated at 1.9 percent as of October 2019 as compared to the same period in the previous year. As shown in Figure 2, the trend has been decreasing and the result for October 2019 posted significant decreased from the previous month.

As shown in Table 2, Health (22.0 percent), Recreation and culture (2.1 percent) and Communication were the commodity groups that posted the higher growth rates in October 2019, respectively. On the other hand, Alcoholic beverages and tobacco had the most rapidly changing average price between the month of October and September 2019 with an inecrease of 1.8 percentage points.

Figure 2. Year-on-Year Headline Inflation Rate, All Items by Commodity Group, Ifugao,
CAR: October 2018 - October 2019 (2012 = 100)

 

Table 2. Month-on- Month Headline Inflation Rate, All items by Commodity Group,
 Ifugao, CAR: October 2019 and  September 2019 (2012=100)

Commodity Group Oct 2019 Sept 2019
All Items 1.9 4.1

        Food and Non - Alcoholic
         Beverages

-1.7 1.7

        Alcoholic Beverages and
        Tobaco

20.0 20.3
        Clothing and Footwear 6.7 6.7

         Housing, Water, Electricity,
         Gas and Other Fuels

2.7 3.8
          Furnishing, Household
          Equipment and Routine
          Maintainance of the House
-6.8 1.1
         Health  22.0 20.3
         Transport 2.8 5.1
         Communication 0.0 (0.4)
         Recreation and Culture 2.1 1.6
         Education 7.1 7.1
         Restaurants and
          Miscellaneous Goods
          and Services
3.1 4.6
                  Source: Philippine Statistics Authority

 

PURCHASING POWER OF PESO (PPP)

Purchasing Power of Peso (PPP) is inversely related to inflation rate. Thus, as the inflation rate increases,  PPP declines. In Ifugao, PPP decreased by 4.6 percent in 2018 and has been decreasing at an average rate of 0.60 percent monthly in the year 2018.

The average PPP in Ifugao in 2018 is at 0.88. This implies that the Php 1.00 in 2012, as the base year, values only Php 0.88 in 2018.

As a result of the prices changes reflected in the CPI, the provincial Purchasing Power of the Peso slightly declined at 0.84 as shown in figure 3. 

 

Figure 3. Monthly Purchasing Power of Peso in Ifugao:
October 2018 – October 2019 (2012=100)

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