Release Date :
Reference Number :
23CAR32-150
The headline Inflation rate in Kalinga continued to uptrend as it moved further to 11.4 percent in January 2023, from 9.7 percent in December 2022. In January 2022, inflation rate was observed at 3.0 percent.
Most of the commodity groups in Kalinga exhibited increase in prices. Transportation recorded 20.6 percent, then followed by Alcoholic beverages and tobacco with a recorded price index of 16.1 percent this January 2023. Other commodities with huge increase in their CPI were Restaurants and Accommodation with 13.2 percent, Health with 8.3 percent, Housing, Water, Electricity, Gas and Other Fuels with 5.6 percent, Clothing and Footwear with 6.9 percent, Personal Care, and Miscellaneous Goods and Services with 7.3 percent, and Furnishings, Household Equipment and Repair Maintenance of the House with a percent of 6.7. Education services and Recreation, Sport and Culture displayed a slight increase in percent by 3.5 and 2.3 accordingly.
On the other hand, no change was recorded for the financial services
PRICE SITUATION: Month-on-Month
In the month-on-month comparison, the consumer price index in All Items is posted at 1.9 percent (123.0 to 125.3). That may be attributed to the continuous changes in prices of some commodities during the period.
Compared to the previous month, increase in the price index of commodities was observed in Transport with 0.7 percent change ( 124.8-125.7); Food and Alcoholic beverages with 4.0 percent change (121.3to 126.1), Personal Care, and Miscellaneous Goods with 1.2 percent change (116.7 to 118.7); Clothing and Footwear with 0.1 percent change (122.2 to 122.3); Health with 0.6 percent change (133.7 to 134.5); Furnishings Household Equipment and Routine Maintenance of the House with 2.1 percent change (125.4 to 128.0).
Moreover, there was a slight decrease to the items of Housing, Water, Electricity, and other Fuels with -0.5 percent change (114.6 to 114.0), and Recreation, Sport and Culture with -0.1 percent change (113.0 to 112.9).
Meanwhile, stable price index registered 0 percent change in the following items; Financial Services with 146.0; Restaurant and Accommodation Services with 144.5 and Information and Communication with 101.4.
With such price changes reflected in the CPI, the purchasing power of the peso (PPP) in the province for the month of January 2023 is posted at 0.83.
Purchasing Power of Peso
The Purchasing Power of Peso (PPP) in Kalinga was valued at 0.81 this January 2023, 9 centavos lower than the PPP of January 2022.
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.
MARIBEL M. DALAYDAY
Chief Statistical Specialist
| Attachment | Size |
|---|---|
 JANUARY 2023 INFLATION REPORT OF KALINGA (BASE YEAR:2018) |
887.95 KB |