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 November 2021 was 129.8. This was higher by 7.0 index points from the 122.8 CPI of November 2020 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 2021
(2012=100)
- Among the CAR provinces, Kalinga posted the highest CPI for November 2021 with 135.6, followed by Apayao with 130.2 and Benguet with 129.9 while Abra posted the lowest CPI with 125.0.
CPI by Commodity Groups
- Among the commodity groups, Alcoholic Beverages and Tobacco had the highest CPI in the region with 267.2 index points. The province of Apayao incurred the highest CPI on this commodity with 460.5 index points, followed by Abra, Kalinga, and Ifugao with 370.2, 359.3, and 275.9 index points, respectively.
- Clothing and Footwear ranked second among the commodity groups in the region for November 2021 with 133.8 index points. Among the provinces, Kalinga had the highest index on clothing and footwear with 143.2, while Apayao had the lowest with 127.7 index points.
- Food and Non-Alcoholic Beverages registered the third highest CPI with 132.8 index points. Benguet recorded the highest index on food and non-alcoholic beverages with 137.2, followed by Kalinga and Mountain Province with 136.0 and 127.2 index points, respectively.
- Communication continued to incur the lowest CPI among the commodity groups in the region during the month of November 2021 with 103.1 index points. The province of Kalinga incurred the highest index on communication with 105.1 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 135.6, while Abra garnered the lowest index with 125.1 in November 2021.
Figure 2. Consumer Price Index by Commodity Group and by Province,
CAR: November 2021
(2012=100)
- By index point change, Alcoholic Beverages and Tobacco recorded the highest increase with (18.3 points). Increases were also incurred in Food and Non-alcoholic Beverages (11.5 points), Transport (8.9 points), and Restaurant and Miscellaneous Goods and Services (7.5 points). The rest of the commodity groups reported minimal annual increases.
Figure 3. Year-on-Year Consumer Price Index by Commodity Group,
CAR: November 2020 and 2021
(2012=100)
Inflation Rate
- The average increase in the prices of goods and services in the region was 5.7% in November 2021, higher by 3.4 percentage points compared with the inflation of 2.3% in November 2020.
- Benguet posted the highest inflation rate in November 2021 with 6.6%, followed by Ifugao and Mountain Province both with 5.8%. Apayao incurred the lowest inflation among all CAR provinces with 2.0%.
- Only the province of Apayao recorded lower inflation rate for November 2021 compared to November 2020, all other provinces recorded higher inflation rate compared to the previous year.
Figure 4. Year-on-Year Inflation Rates by Province,
CAR: November 2020 and 2021
(2012=100)
By Commodity Group
- Inflation rate of the heavily-weighted Food and Non-Alcoholic Beverages decreased by 1.7 percentage points from the October 2021 rate of 9.5% to 7.8% in November 2021.
- Transport Services had the highest inflation rate among other commodities in the region with 8.6% in November 2021 followed by Food and Non-alcoholic Beverages with 7.8%, and Alcoholic Beverages & Tobacco with 7.4%.
Figure 5. Inflation Rates by Commodity Groups, CAR: November 2021 (2012=100)
- Among all other commodities, Education incurred the lowest inflation rate of 0.0%.
By Food Items, Year-on-Year
- Among the food items, Corn recorded the highest CPI in the region in November 2021 with 199.3 index points. This was followed by Vegetables, Fruits, and Meat with 155.9, 158.6, and 152.5 index points, respectively.
- By index point change, Vegetables recorded the highest with 30.3. Corn followed with 23.0 index point increase followed by Meat with 19.2 index point increase. Food products, N.E.C (not elsewhere classified) posted the lowest index point change with 0.2 points.
Figure 6. Year-on-Year CPI and Inflation Rates of Selected Food Items,
CAR: November, Year 2020 and 2021 (2012=100)
Purchasing Power of the Peso (PPP)
- The Purchasing Power of the Peso (PPP) in all the provinces generally weakened in November 2021 compared to the same month of the previous year.
- The value of 1 peso in the region was 77 centavos in November 2021. It dropped by four centavos from 81 centavos in November 2020. Abra had the highest peso value with 80 centavos, followed by Mountain Province 79 centavos. Meanwhile, Kalinga had the lowest peso value with 74 centavos.
- Conversely, a basket of goods that can be bought with 100 pesos in December 2012 is worth 129.8 pesos in November 2021.
- Also, the hundred pesos in 2012 was worth 77 pesos in November 2021.
Figure 7. Worth of a Hundred Pesos by Province,
CAR: November 2020 and November 2021
(2012=₱100)
