The Philippine Statistics Authority-Cordillera Administrative Region (PSA-CAR) recently conducted the Online Dissemination of the May 2023 Cordillera Inflation Rate (IR) and Consumer Price Index (CPI) last 27 June 2023 via Zoom. This was participated by Regional Line Agencies (RLAs), Local Government Units (LGUs), academe, and the media.

PSA-CAR Senior Statistical Specialist Ma. Gina V. De Guzman reported that the May 2023 inflation rate of the region was 0.4 percentage points lower than the previous month at 4.3 percent. The inflation rate in CAR decreased to 3.9 percent due to lower prices in Transport, Food and non-alcoholic beverages, and Housing, water, electricity, gas and other fuels.

The major contributors to the May 2023 Inflation of CAR were the Food and non-alcoholic beverages with a percent share of 66.2 percent, Restaurants and accommodation services with 6.9 percent, and Personal care and miscellaneous goods and services with 5.4 percent.

National Economic Development Authority (NEDA)-CAR OIC-Chief Economic Development Specialist Freda M. Toyoken was the discussant provided insightful discussion of the results of the latest price statistics during the dissemination forum. She prepared a presentation discussing the relationship of inflation and economic growth, relationship of inflation vis-à-vis savings and investment, and the development outlook for the region and the nation as a whole.

For more information and other inquiries about the Consumer Price Index and Inflation Rates, you may contact us at email address rssocarsocd@psa.gov.ph or phone number (074) 442-7449.

(SGD)
VILLAFE P. ALIBUYOG
Regional Director