May 2022 Price Situation in the Cordillera (Base Year 2018)

Release Date :
Reference Number :
SR 2022-25
Consumer Price Index
 
  • Consumer Price Index (CPI) is the general measure of the change in the average retail prices of a market basket or collection of goods and services commonly purchased by the average Filipino household.
  • In general, the CPI increased reflecting the rise in the average prices of goods and services in all the six provinces and the highly urbanized city (HUC) of CAR.
  • The CPI of the Cordillera Administrative Region (CAR) in May 2022 was 114.1 index points. This was higher by 7.4 index points from the 106.7 CPI index points of May 2021 using 2018 as base year.
 
Figure 1. Consumer Price Index by Province and HUC, CAR: May 2022
(2018=100)
 
                      Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index,
                                   Philippine Statistics Authority
  • Among the CAR provinces/HUC, Mt. Province posted the highest CPI for May 2022 with 118.8 index points, followed by Kalinga with 116.3 index points and Ifugao with 115.2 index points.
  • Meanwhile, Abra posted the lowest CPI with 112.3 index points.
 
CPI by Commodity Groups
 
  • Among the commodity groups, Financial Services had the highest CPI in the region with 139.2 index points. The province of Abra incurred the highest CPI on this commodity with 160.4 index points, followed by Apayao, Benguet, and Kalinga with 146.0 index points.      
  • Alcoholic Beverages and Tobacco ranked second among the commodity groups in the region for May 2022 with 136.7 index points. Among the provinces, Mountain Province had the highest CPI on this commodity with 159.3 index points while Benguet had the lowest with 122.1 index points.
  • Transport registered the third highest CPI commodity group in the Cordillera region with 126.0 index points. Benguet recorded the highest index for this commodity with 136.9 index points, followed by Ifugao and Apayao with 129.4 and 127.9 index points, respectively.  
  • Information and Communication incurred the lowest CPI among the commodity groups in the region during the month of May 2022 with 101.9 index points. The province of Benguet incurred the highest index on this commodity with 103.2 index points while Mountain Province had the lowest with 99.5 index points.
  • Among the CAR provinces, Mountain Province incurred the highest CPI for All Items with 118.8 index points while Abra garnered the lowest CPI with 112.3 index points in May 2022.
 
Figure 2. Consumer Price Index by Commodity Group and by Province and HUC,
 CAR: May 2022
(2018=100)

     Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index,
                  Philippine Statistics Authority
 
  • By index point change, all commodity groups in May 2022 incurred increases in index point using 2018 as the base year.  Transport recorded the highest increase with 24.4 index points. This was followed by Alcoholic Beverages and Tobacco and Restaurant and Accommodation Services with the point change of 8.8 and 7.3 index points, respectively.
  • Financial Services posted no changes on index points in May 2022.
Figure 3. Year-on-Year Consumer Price Index by Commodity Group,
CAR: May 2021 and 2022
(2018=100)
                                        Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index,
                                                     Philippine Statistics Authority
Inflation Rate
  • The average increase in the prices of goods and services in the region was 6.9 percent in May 2022, higher by 4.1 percentage points compared with the inflation of 2.8 percent in May 2021.
  • Benguet posted the highest inflation rate in May 2022 with 7.1 percent, followed by Apayao and Baguio City with 4.4 percent and 3.6 percent, respectively. Ifugao incurred the lowest inflation rate in the Cordillera region with 1.5 percent.
  • All the provinces recorded a higher inflation rate for May 2022 compared to May 2021 using 2018 as base year.
Figure 4. Year-on-Year Inflation Rates by Province and HUC,
CAR: May 2021 and 2022
 (2018=100)
                    Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index,
                                  Philippine Statistics Authority

 

Purchasing Power of the Peso (PPP)
  • The Purchasing Power of the Peso (PPP) in all the provinces generally weakened in May 2022 compared to the same month of the previous year.
  • The value of one (1) peso in the region was 88 centavos in May 2022. It dropped by six (6) centavos from 94 centavos in May 2021. Among the provinces, Abra and Baguio City had the highest peso value with 89 centavos, followed by Apayao with 88 centavos. Meanwhile, Mountain Province had the lowest peso value with 84 centavos.
  • Conversely, a basket of goods that can be bought with 100 pesos in December 2018 is worth 114.1 pesos in May 2022.
  • Also, one hundred pesos in 2018 was worth 88 pesos in May 2022.
Figure 7. Worth of a Hundred Pesos by Province/City,
CAR: May 2021 and May 2022
 (2018=₱100)
                       Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index,
                                     Philippine Statistics Authority

 

 

 
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2018 base year

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