Mountain Province CPI Geared Up in September 2022
The Consumer Price Index of Mountain Province for the month of September 2022 is 122.9 using 2018 as base year. This is 1.5 index points higher compared to its preceding month with CPI=121.4 and 10.3 index points higher as compared to the same month of 2021 with 112.6 price index.
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Table 1: Monthly CPI for All Income Households by Commodity Group,
Mountain Province: September 2022
(2018 = 100)
| Commodity Group | September 2021 | September 2022 |
|---|---|---|
| All Items | 112.6 | 122.9 |
| Food and Non-alcoholic Beverages | 109.8 | 116.8 |
| Alcoholic Beverages and Tobacco | 149.9 | 164.2 |
| Clothing and Footwear | 111.6 | 127.3 |
| Housing, water, electricity, gas and other fuels | 115.7 | 137.7 |
| Furnishings, Household Equipment and Routine Maintenance | 120.9 | 124.8 |
| Health | 107.9 | 108.4 |
| Transport | 109.8 | 135.6 |
| Information and Communication | 99.2 | 99.8 |
| Recreation, Sport and Culture | 105.1 | 106.6 |
| Education Services | 105.3 | 104.8 |
| Restaurant and Accommodation Services | 135.4 | 152.5 |
| Financial Services | 100.0 | 100.0 |
| Personal Care, and Miscellaneous Goods and Services | 112.8 | 116.8 |
Alcoholic Beverages and Tobacco Top the Index
By commodity group, Figure 1 shows that Alcoholic Beverages and Tobacco had the highest among the thirteen major commodity groups with consumer price index of 164.2 for the month of September 2022. Among its subgroups, tobacco had the highest price index with 216.3 index points while other vegetable-based tobacco products had a price index of 160.9 for the month of September 2022.
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Figure 1: Consumer Price Index for All Income Households in Mountain Province:
September 2022
(2018 = 100)
Restaurant and Accommodation Services ranked second among the commodity groups with 152.5 index points. Food and Beverage Serving Services had the highest index points with 163.0 among its subgroups followed by Accommodation Services with 111.9 index points.
Housing, water, electricity, gas, and other fuels ranked third with index points of 137.7 Among its subgroups, electricity, gas and other fuels had the highest index points of 160.3 while the water supply and miscellaneous services relating to the dwelling retained the previous months index points.
Transportation with index points of 135.6 while Information and Communication incurred the lowest CPI in the province during the month with index point of 99.8.
CPI for All Items Shows an Upward Trend
Figure 2 shows the consumer price index for All Items in the province for the month of September 2021 and 2022. The indices for All Items showed an increasing trend for the said month with index points 112.6, and 122.9 in that order.
By index point change, All Items had an increase of 10.3 from 112.6 index points in September 2021 to 122.9 in the same month of 2022.
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Figure 2: Consumer Price Index by Commodity Group, Mountain Province: September 2021 and September 2022
(2018 = 100)
Transport recorded the highest increase with 25.8 points followed by Housing, water, electricity, gas and other fuels; Restaurants and Accommodation Services, and Alcoholic Beverages and Tobacco which increased by 22.0, 17.1 and 14.3 index points respectively.
Financial Services did not show changes in index points while Education Services decreased by 0.5 index points.
Inflation Rate by Month
Inflation in Mountain Province increased further from 8.9 percent in August 2022 to 9.1 percent in September 2022. In September of the previous year, inflation was lower at 5.0 percent. (Figure 3)
The acceleration in the inflation rate in September 2022 was primarily due to the higher annual growths in the Housing, water, electricity, gas and other fuels at 19.0; recreation, sport and culture with index at 1.4 and transport with index at 23.5 percent respectively.
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Figure 3: Inflation Rate by Month,
Mountain Province: September 2021 – September 2022
(2018 = 100)
On the contrary, inflation rates were lower for restuarants and accommodation services at 12.6 percent followed by alcoholic beverages and tobacco at 9.5 percent and food and non-alcoholic beverages at 6.4 percent respectively. The rest of the commodity groups change in a minimal rate.
Purchasing Power of Peso (PPP) Slides
The Purchasing Power of the Peso (PPP) in the province for the month of September 2022 decreased to 0.81 centavos compared to its preceding month with 0.82 centavos and decreased by 8 centavos compared to the same month of the previous year. Thus, hundred pesos in 2018 is worth 81 pesos for the month of September 2022. (Figure 4)
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Figure 4: Purchasing Power of Peso,
Mountain Province: September 2021 – September 2022
(2018 = 100)
