PRESS RELEASE: Summary Inflation Report Consumer Price Index (2018=100) May 2022

Release Date: 

Thursday, June 9, 2022

Reference Number: 

PSA-CAR2022-06-01
Table A: Year-on-Year Inflation Rates for All Items in CAR
In Percent
 (2018=100)
 
                                                                   Note: *-Year-on-year change of average CPI for January to May, 2022 vs 2021
                                                                   Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index
                                                                   Philippine Statistics Authority

 

 

 

Figure 1: Inflation Rates in Cordillera Administrative Region, All Items
(2018=100)
 
                                                                                         Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index
                                                                           Philippine Statistics Authority

 

1. Cordillera Administrative Region (CAR)
 
The average increase in the prices of goods and services in the region was 6.9 percent in May 2022, higher by 4.1 percentage points compared with the inflation of 2.8 percent in May 2021. (Table A and Figure 1)
 
Overall, all provinces in CAR recorded a higher inflation rate for May 2022 compared to May 2021 using 2018 as base year.
 
The acceleration in the region’s inflation rate in May 2022 was primarily due to the higher annual growths in the transport index at 24.0 percent, and food and non-alcoholic beverages index at 6.4 percent. The following commodity groups also contributed to the upward trend of the inflation during the month:
 
a. Alcoholic beverages and tobacco, 6.9 percent;
b. Clothing and footwear, 2.9 percent;
c. Personal care, and miscellaneous goods and services, 3.1 percent;
d. Furnishing, household equipment and routine household maintenance, 2.2 percent;
e. Housing, water, electricity, gas and other fuels; 6.5 percent;
f. Health; 2.0 percent;
g. Restaurants and accommodation services, 6.4 percent;
h. Recreation, sport and culture, 2.3 percent; and
i. Information and communication, 0.5 percent.
 
The rest of the commodity groups retained their previous month’s inflation rates. (Table 4)
 
2. Provinces in CAR
 
Benguet posted the highest inflation rate in May 2022 with 9.6 percent. This is followed by Mt. Province and Apayao with 7.0 percent and 6.9 percent, respectively. Abra incurred the lowest inflation rate in the Cordillera region with 4.5 percent. (Table A)
 
The uptrend of inflation in Benguet in May 2022 was also mainly brought about by the higher inflation for transport with 35.3 percent, from 34.1 percent in the previous month. This was followed by clothing and footwear with an inflation of 5.0 percent during the month, from 4.2 percent in April 2022.
 
In addition, the following commodity groups contributed to the increase of inflation rate in Benguet:
 
a. Alcoholic beverages and tobacco, 7.2 percent;
b. Health, 2.9 percent;
c. Furnishing, household equipment and routine household maintenance, 2.1 percent;
d. Personal care, and miscellaneous goods and services, 5.6 percent; and
e. Recreation, sport and culture, 3.3 percent.
 
On the contrary, annual increases slowed down in the indices of housing, water, electricity, gas, and other fuels at 5.9 percent.
 
The indices of the rest of the commodity groups either retained their previous month’s rates or had zero percent annual growth during the month. (Table 4)
 
 

Note: CPI and inflation rates by province and selected city are posted at the PSA website (http://openstat.psa.gov.ph).

 

 

VILLAFE P. ALIBUYOG
Regional Director
 
 
 
 

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