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

Consumer Price Index in Mountain Province decreased to 130.3 percent

The Consumer Price Index for all items in Mountain Province was recorded at 130.3 index points this September 2024. It decreased from the previous month's record at 130.9 index points. 

On a year-on-year basis, the CPI increased by 3.9 percentage points during the month from 126.4 percent in September 2023. The CPI in Mountain Province consistently remains above the Cordillera Administrative Region’s record settling at 124.5 percentage points.

The CPI of 130.3 percent in August 2024 means that using the year 2018 as the base year, there was an increase of 30.3 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, September 2023 – September 2024
(2018 = 100)

Inflation Rate in Mountain Province decreased to 3.1 percent

The inflation rate in Mountain Province decreased to 3.1 percent in September 2024, down by  1.8 percentage points from 4.9 percent in August 2024. In September 2023, the inflation rate was lower at 2.8 percent. The inflation rate of the province was higher compared to the overall inflation rate of the Region at 1.2 percent.

Commodity on Alcoholic Beverages and Tobacco is the main contributories to the upward trend of the September 2024 Inflation Rate

The main contributories to the upward trend of the inflation rate were primarily due to the faster inflation of Alcoholic Beverages and Tobacco which increased to 2.7 percent from its 1.4 percent inflation rate in September 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,  3.8 percent;

• Education Services; 0 percent

• Personal Care, Miscellaneous Goods and Services, 4.8 percent

• Health, 0.3 percent

• Furnishing Household Equipment and Routine Household Maintenance, 0.6 percent

• Recreation, Sport and Culture, 2.2 percent

In contrast the commodities, Restaurants and Accommodation Services; Transport; Food and Non-Alcoholic Beverages and Clothing and Footwear recorded a decrease in their inflation rates at 1.4, -3.7, 4.1 and 4.1 in that order.

Meanwhile, inflation rates of the commodities Information and Communication and Financial Services remained at -0.2 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: August 2024 – September 2024 
(2018 = 100)

Purchasing Power of Peso (PPP) increased to 0.77

The PPP in Mountain Province decreased to 0.77 in September 2024 from the recorded PPP in August at 0.76. This means that a peso in 2018 was worth 77 centavos in September 2024. The PPP in September 2023 was at 0.79 (Figure 3).

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