Summary Inflation Report

Consumer Price Index,

Benguet:

June 2022

(2018=100)

Table A. Year-on-Year Inflation Rates, All Items

In percent

(2018=100)

Table B. Year-on-Year Inflation Rates, All Items

In percent

(2018=100)

Table C. Year-on-Year Inflation Rates in CAR

By Commodity Groups

In percent

(2018=100)

Table D. Year-on-Year Inflation Rates in Benguet

By Commodity Groups

In percent

(2018=100)

Figure 1. Inflation Rates in CAR, All Items

(2018=100)

Figure 2. Inflation Rates in Benguet, All Items

(2018=100)

1. Philippines

The Philippines’ annual headline inflation continued to move at a faster pace of 6.1 percent in June 2022. This is the highest recorded inflation since October 2018. Inflation in the previous month stood at 5.4 percent and in June 2021, 3.7 percent. Average inflation for the first half of the year was posted at 4.4 percent.

2. Cordillera Administrative Region (CAR)

Following the trend at the national level, inflation in CAR rose to 7.5 percent in June 2022, from 6.9 percent in the previous month. In June 2021, inflation in the region was observed at 2.9 percent.

Contributing largely to the uptrend of inflation in the region was transport with an inflation rate of 26.7 percent in June 2022, from 24.0 percent in the previous month and 5.2 percent in the month of the previous year. The higher inflation in the area was also due to the higher annual increase in the alcoholic beverages and tobacco index at 8.4 percent in June 2022.

Inflations of following commodity groups were also as follows:

1. Food and non-alcoholic beverages, 7.3 percent;
2. Housing, water, electricity, gas and other fuels, 6.1 percent;
3. Restaurants and accommodation services, 6.9 percent;
4. Personal care, and miscellaneous goods and services, 3.6 percent;
5. Clothing and footwear, 3.2 percent;
6. Recreation, sport and culture, 2.5 percent;
7. Health, 2.6 percent;
8. Furnishing, Household Equipment and Routine Household Maintenance, 2.5 percent

Financial services had zero percent inflation rate during the month. Education services had the most stable prices, evident by its 0.6 percent inflation rate from January to June of this year.

3. Benguet

Similar to the trend at the national level and at the regional level, inflation in Benguet increased to 9.8 percent in June 2022, from 9.6 percent in May 2022. In June 2021, inflation in the province stood at 2.5 percent.

Transport Services posted the highest inflation rate among the commodity groups at 37.2 percent. It was followed by Food and Non-Alcoholic Beverages at 10.6 percent inflation rate and Restaurant and Accommodation Services at 8.6 percent.

Meanwhile, only Education Services had recorded deflation among the commodity groups. Inflation rate for the said group is still at -0.7 percent.

Contributing also to the uptrend in the inflation in the province were the higher annual increments registered in the following commodity groups:

1. Alcoholic beverages and tobacco, 7.7 percent;
2. Housing, water, electricity, gas, and other fuels, 5.2 percent;
3. Personal care, and miscellaneous goods and services, 5.8 percent;
4. Clothing and footwear, 5.6 percent;
5. Recreation, sport and culture, 3.6 percent;
6. Health, 3.3 percent
7. Furnishing, Household Equipment and Routine Household, 2.2 percent
8. Maintenance, 2.1 percent
9. Information and Communication, 1.4 percent
    

The rest of the commodity groups had less than one percent inflation rate.

Note: CPIs and inflation rates by region, province and selected city are posted at the PSA website (https://openstat.psa.gov.ph/).