Release Date :
Reference Number :
2023-CARAP-SR06
Summary Inflation Report of the Consumer Price Index, Apayao Province, April 2023
Table 1. Year-on-Year Inflation Rates in Apayao Province, All Items in Percent April 2023 (2018=100)
The province’s inflation rate decreased to 7.5 percent in April 2023, higher by 2.3 percentage point compared in the same month in the previous year with 5.2 percent but 2.0 percentage point lower than the previous month with 9.5 percent. (Figure 1 and Table 1)
Figure 1. Year-on Year Inflation Rate, All Items in Percent April 2022 – April 2023 (2018=100)
Table 2. Year-on-Year Inflation Rates in Apayao, By Commodity Groups in Percent (2018=100)
The main driver in the decrease of the province’s inflation rate in April 2023 was primarily due to the decrease in the index of the ten (10) commodity groups which are: 1) Transport, by 12.4 percent with 37.5 % share in the downtrend; 2) Food and NonAlcoholic Beverages by 8.2 percent with 33.7 % share; 3) Housing, Water, Electricity, Gas and Other Fuels by 7.5 percent with 21.9 % share; 4) Furnishings, Household Equipment and Routine Household Maintenance by 1.3 percent with 2.4 % share; 5) Restaurants and Accommodation Services by 17 percent with 2.0 % share; 6) Recreation, Sport and Culture by 8.5 percent with 0.8 % share; 7) Personal Care, and Miscellaneous Goods and Services by 3.6 percent with 0.8 % share; 8) Health by 0.3 percent with 0.7 % share; 9) Information and Communication by 1.0 percent with 0.1 percent share; and 10) Alcoholic Beverages and Tobacco by 5.7 percent with 0.1 % share in the downtrend.
(Figure 2 and Table 2)
Moreover, the following commodity subgroups which had the highest percent share in the downtrend during the month of March are:
1. Gasoline (ND) by 16.5 percent;
2. Tomatoes, fresh or chilled by 12.2 percent;
3. Meat of poultry, fresh, chilled or frozen by 8.7 percent;
4. Diesel (ND) by 7.3 percent; and
5. Rentals actually paid by tenants/ subtenants occupying unfurnished/ furnished
premises as their main residence by 6.7 percent;
On the contrary, only one commodity group increased in its inflation rate: Clothing and
Footwear by 6.1 percent. (Figure 2 and Table 2)
Meanwhile, the remaining commodity groups with constant inflation rate are:
Education Services and Financial Services at 0.0 percent. (Figure 2 and Table 2)
Figure 2. Inflation Rate of All Items by Commodity Groups, Comparison Between March 2023 and April 2023
Purchasing Power of Peso (PPP) recorded at 0.83 in April 2023
Purchasing power of peso continue to weaken through the years and reached 0.83 in April 2023. The PPP of 0.83 implies that the Php1.00 in the base year 2018 values only Php 0.83 in April 2023. (Figure 3)
Figure 3. Purchasing Power of Peso in Apayao (2018=100): April 2018-April 2023
DEFINITION OF TERMS
Consumer Price Index (CPI) measures the overall change in consumer prices based
on a representative basket of goods and services over time.
Inflation refers to an overall increase in the Consumer Price Index (CPI), which is a
weighted average of prices for different goods.
Purchasing power of the peso shows how much the peso in the base period is worth
in the current period. It is computed as the reciprocal of the CPI for the period under
review multiplied by 100.
Commodity Groups are group of goods and services found in the market basket of
the province. There are thirteen (13) commodity groups which were arranged
according to the PCOICOP.
PCOICOP a detailed classification of individual consumption expenditures on goods
and services incurred by the three of the five (5) institutional sectors of the 1993 and
2008 System of National Accounts (SNA), namely: (a) households, (b) financial
corporations, (c) non-financial corporations, (d) general government, and (e) non-profit
institutions serving households. It stands for Philippine Classification of individual
Consumption According to Purpose.
FNAB stands for Food and Non-Alcoholic Beverages
ABT stands for Alcoholic Beverages and Tobacco
CF stands for Clothing and Footwear
HWEGO stands for Housing, Water, Electricity, Gas, and Other Fuels
FHERHM stands for Furnishings, Household Equipment and Routine Household
Maintenance
IC stands for Information and Communication
RSC stands for Recreation, Sport, and Culture
ES stands for Education Services
RAS stands for Restaurants and Accommodation Services
FS stands for Financial Services
PCMGS stands for Personal Care, Miscellaneous Goods and Services
Approved by:
GEOFFREY B. CALIMUHAYAN
Chief Statistical Specialist
/ LSBT
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 Summary Inflation Report of the Consumer Price Index |
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