The Headline Inflation rate in Kalinga goes up to 4.0 percent in December 2024, from 3.0 percent in November 2024. In December 2023, inflation rate was observed at 0.7 percent.

The increase in the province inflation was brought about by the higher monthly increase in the CPI for the following items:

a. Food and Non-alcoholic Beverages with 6.2 percentage point (December 2023-124.1 to December 2024 131.8);

b. Recreation and Culture with 4.6 percentage point (December 2023-115.0 to December 2024 120.3);

c. Clothing and Footwear with 3.8 percentage point (December 2023-125.9 to December 2024 130.7);

d. Personal Care Goods and Miscellaneous Services with 3.5 percentage point (December 2023-120.6 to December 2024 124.8);

e. Alcoholic Beverages and Tobacco at 3.4 percentage point (December 2023-179.4 to December 2024 185.5);

f. Furnishing, Household Equipment and Routine Household Maintenance with 2.9 percentage point (December 2023-132.6 to December 2024 136.5);

g. Restaurant, Misc. Goods and Services with 2.6 percentage point (December 2023-144.5 to December 2024 148.2);

h. Housing, Water, Electricity, Gas and Fuels at 2.5 percentage point (December 2023-110.4 to December 2024 113.2);

i. Information and Communication with 2.0 percentage point (December 2023-101.6 to December 2024 103.6);

j. Education with 1.9 percentage point (December 2023-127.7 to December 2024 130.1);

k. Health with 1.7 percentage point (December 2023-138.0 to December 2024 140.3);

On the other hand, there is a decrease in percentage of Transportation with -1.7 percent (December 2023-120.4 to December 2024 118.3).

Meanwhile, there is no change in the commodity group of Financial Services. 

PRICE SITUATION: Month-on-Month

In the month-on-month comparison, the Consumer Price Index (CPI) in All Items is posted at 0.6 percent from 128.0 to 128.8. 

The increasing changes in the monthly CPI of the month were the result of the increasing prices from the group of the following items;

a. Transport with 1.3 percent change from 116.8 to 118.3;

b. Housing, Water, Electricity, Gas and Fuels with 1.2 percent change from 111.9 to 113.2;

c. Alcoholic Beverages and Tobacco with 0.6 percent change with 184.4 to 185.5;

d. Food and Non-Alcoholic beverages with 0.5 percent change from 131.1 to 131.8;

e. Personal Care and Miscellaneous Goods and Services with 0.2 percent change from 124.5 to 124.8;

f. Clothing and Footwear with 0.2 percent change from 130.4 to 130.7.

Stable price with 0.0 percent change posted on the group of Information and Communication with 103.6, Education Services with 130.1, Restaurants and Accommodations Services with 148.2, Furnishings, Household equipment and Routine Household maintenance with 136.5 and Financial Services with 146.0.

Moreover, there is a slight decrease with -0.1 percent change from the group of Health from 140.5 to 140.3.

Purchasing Power of Peso

The Purchasing Power of Peso (PPP) in Kalinga was valued at 0.78 this

Technical Notes:

Price – is the amount or value paid in exchange for the commodity or a service rendered.

  Retail/Consumer Price – refers to the price at which a commodity is sold in small          quantities for consumption.

Weight – a value attached to a commodity or group of commodities to indicate the relative importance of that commodity or group of commodities in the market basket.

Market Basket – a term used to refer to a sample of goods and services that are commonly purchased and bought by an average Filipino household.

Consumer Price Index (CPI) – is a measure of the average change overtime in the prices paid by urban consumers for a market basket of consumer goods and services.

Inflation Rate - is the percentage increase or decrease in prices during a specified period, usually a month or a year and it is derived from CPI. It is interpreted in terms of declining purchasing power of money.

Unit of Measure -   refers to which a commodity is customarily traded in the market and it is the actual unit in which the associated values are measured. 

Commodity Specifications – refers to the detailed description of the commodity such as a brand packaging, size and unit of measure or other characteristics that will best describe the product/commodity and are important in the determination of prices.

Uses of the CPI

As an indicator, the CPI is the most widely used in the calculation of the inflation rate and purchasing power of the peso. It is a major statistical series used for economic analysis and as monitoring indicator of government economic p

The CPI is also used as a deflector to express value series in real terms, which is, measuring the change in actual volume of transaction by removing the effects of price changes. The CPI also serves as inputs in wage adjustments through the collective bargaining agreements.

sgd.
MARIBEL M. DALAYDAY