Figure 1: Consumer Price Index, All Items: Mountain Province and Cordillera Administrative Region, 
April 2023 - April 2024
(2018 = 100)

Consumer Price Index in Mountain Province increased to 127.8 percent

The Consumer Price Index for all items in Mountain Province was recorded at 127.8 index points this April 2024. It increased from the previous month's record at 127.6 index points. 

On a year-on-year basis, the CPI increased by 2.3 percentage points during the month from 125.5 percent in April 2023. The CPI in Mountain Province consistently remains above the Cordillera Administrative Regions' record settling at 123.9 percentage points.

The CPI of 127.8 percent in April 2024 means that using the year 2018 as the base year, there was an increase of 27.8 index points on the average retail prices of a fixed basket of goods and services commonly purchased by households in the province (Figure 1).

Figure 2: Inflation Rates in Mountain Province and Cordillera Administrative Region, All Items, 
April 2023 - April 2024
(2018 = 100)

Inflation Rate in Mountain Province Increased to 1.8 Percent

The inflation rate in Mountain Province increased to 1.8 percent in April 2024, up by 0.4 percentage points from 1.4 percent in March 2024. In April 2023, the inflation rate was higher at 6.4 percent. The inflation rate of the province was lower compared to the overall inflation rate of the Region at 4.6 percent.

Transport is the Main Contributory to the upward trend of the April 2024 Inflation Rate

The main contributory to the upward trend of the inflation rate was primarily due to the faster inflation of Transport which increased to -1.3 percent from its -2.9 percent inflation rate in March 2024. Also, an increase in the inflation rates was noted in the following commodity groups during the month:

• Housing, Water, Electricity, Gas, and Other Fuels, -3.7 percent
• Food and Non-Alcoholic Beverages, 4.2 percent;
• Clothing and Footwear, 3.1 percent;
• Furnishing, Household Equipment and Routine Household Maintenance, -2.1 percent;

However, Health; Alcoholic Beverages and Tobacco; Recreation, Sport and Culture; Personal Care, and Miscellaneous Goods and Services; and Information and Communication recorded a decrease in their inflation rates at 0.6, 1.4, 1.7, 3, and -0.1, in that order.

Moreover, inflation rates of the commodity groups Restaurants and Accommodation Services; Education Services; and Financial Services remained at 4.4, 2.0; and -25 percent respectively when compared to their previous months’ data (Table 1).

Table 1: Inflation Rate for All Income Households by Commodity Group,Mountain Province: 
March 2024 – Apr 2024 
(2018 = 100)

Purchasing Power of Peso (PPP) remains at 0.78

The PPP in Mountain Province remained at 0.78 in April 2024 from the recorded PPP in March at 0.78. This means that a peso in 2018 was worth 78 centavos in April 2024. The PPP in April 2023 was at 0.80 (Figure 3).

Figure 3: Purchasing Power of Peso (PPP) by Month,
Mountain Province: April 2023 – April 2024
(2018=100)