Monday, January 11, 2021
- 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 November 2020 was 122.8. This was higher by 2.8 index points from the 120.0 CPI of November 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:
November 2020 (2012=100)
- Among the CAR provinces, Kalinga posted the highest CPI for November 2020 at 128.4, followed by Apayao at 127.2, and Ifugao at 122.6 while Mountain Province posted the lowest CPI at 119.9.
CPI by Commodity Groups
- Among the commodity groups, Alcoholic Beverages and Tobacco had the highest CPI in the region with 248.9 index points. The province of Apayao incurred the highest CPI on this commodity with 429.9 index points, followed by Abra, Kalinga, and Ifugao at 343.3, 324.1, and 258.1 index points, respectively.
- Clothing and Footwear ranked second among the commodity groups in the region for November 2020 at 130.1 index points. Among the provinces, Kalinga had the highest index on clothing and footwear at 139.2, while Abra had the lowest at 125.0 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 November 2020 with 102.3 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 128.4, while Mountain Province garnered the lowest index at 119.9 in November 2020.
Figure 2. Consumer Price Index by Commodity Group and by Province,
CAR: November 2020 (2012=100)
- By index point change, Alcoholic Beverages and Tobacco recorded the highest increase at 22.5 index points. Increases were also incurred in Restaurant (4.5 points), Clothing and Footwear (4.1 points), and Food and Non-alcoholic Beverages (3.7 points). The rest of the commodity groups reported minimal annual increases.
Figure 3. Year-on-Year Consumer Price Index by Commodity Group,
CAR: November 2019 and 2020 (2012=100)
- The average increase in the prices of goods and services in the region increased to 2.3% in November 2020 from the 1.7% in November 2019.
- Abra posted the highest inflation rate in November 2020 with 3.1%, followed by Apayao and Ifugao with 3.1%. Mountain Province incurred the least inflation with 1.6% among all provinces.
- Only the province of Mountain Province had lower inflation rate for November 2020 compared to November 2019. All remaining provinces incurred higher inflation rate for November 2020 compared November 2019.
Figure 4. Year-on-Year Inflation Rates by Province,
CAR: November 2019 and 2020 (2012=100)
By Commodity Group
- Inflation rate of the heavily-weighted Food and Non-Alcoholic Beverages index in the region increased by 1.6 percentage point from the October 2020 rate of 1.5 to 3.1 in November 2020.
- Alcoholic Beverages and Tobacco remained to have the highest inflation in November 2020 among other commodities in the region with 9.9%, followed by Restaurant and Miscellaneous Goods & Services with 3.8% and Clothing and Footwear with 3.3%.
Figure 5. Inflation Rates by Commodity Groups, CAR: November 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 November 2020 with 176.3. This was followed by Fruits, Fish, and Meat with 146.5, 139.9, and 133.3 index points, respectively.
- By index point change, Fish recorded the highest by 11.3. Meat followed with 9.9 index point increase followed by Corn with 9.8.
Figure 6. Year-on-Year CPI and Inflation Rates of Selected Food Items,
CAR: November, Year 2019 and 2020 (2012=100)
Purchasing Power of the Peso (PPP)
- The value of 1 peso in the region was 81 centavos in November 2020. It dropped by two centavos from 83 centavos in November 2019. This can be translated that hundred pesos in 2012 was worth 81 pesos in November 2020.
- Also, a basket of goods that can be bought with 100 pesos in December 2012 is worth 122.8 pesos in November 2020.
- The PPP in all the provinces generally weakened in November 2020 compared to the same month of the previous year.
- Abra and Mountain Province had the highest peso value both with 83 centavos, followed by Benguet and Ifugao with 82 centavos. Meanwhile, Kalinga had the lowest peso value with 78 centavos.
Figure 7. Worth of a Hundred Pesos by Province, CAR:
November 2019 and November 2020 (2012=₱100)