Table A. Year-on-Year Inflation Rates, All Items

In percent

(2018=100)

Table B. Year-on-Year Inflation Rates, All Items

In percent

(2018=100)

Table C. Year-on-Year Inflation Rates in CAR

By Commodity Groups

In percent

(2018=100)

Table C. Year-on-Year Inflation Rates in Baguio City

By Commodity Groups

In percent

(2018=100)

Figure 1. Inflation Rates in CAR, All Items

(2018=100)

Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority

Figure 2. Inflation Rates in Baguio City, All Items

(2018=100)

Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority

1. Philippines

The Philippine’s annual headline inflation continued its uptrend as it moved up further to 6.4 percent in July 2022, from 6.1 percent in June 2022. This is the highest recorded inflation since October 2018. With this month’s inflation, the Philippines’ average inflation from January to July 2022 stood at 4.7 percent. In July 2021, inflation rate was lower at 3.7 percent.

The main source of the upward trend of the July 2022 inflation was the higher annual growth rate in the index for food and non-alcoholic beverages at 6.9 percent, from 6.0 percent in the previous month. Transport index followed with 18.1 percent annual growth, from 17.1 percent in June 2022.

2. Cordillera Administrative Region (CAR)

Opposite from the trend at the national level, inflation in CAR declined from 7.5 percent in June 2022 to 7.3 percent in July of the same year.

Contributing largely to the inflation in the region was transport with an inflation rate of 28.7 percent in June 2022, from 26.7 percent in the previous month. The higher inflation in the area was also due to the higher annual increase in the alcoholic beverages and tobacco index at 9.6 percent.

Inflations of following commodity groups were also as follows:

1. Food and non-alcoholic beverages, 6.5 percent;
2. Housing, water, electricity, gas and other fuels, 5.0 percent;
3. Restaurants and accommodation services, 7.3 percent;
4. Personal care, and miscellaneous goods and services, 4.0 percent;
5. Clothing and footwear, 3.2 percent;
6. Recreation, sport and culture, 2.8 percent;
7. Health, 2.7 percent;
8. Furnishing, household equipment and routine household maintenance, 2.8 percent
9. Information and communication, 0.5 percent

Financial services had zero percent inflation rate during the month. On the other hand, education services had the same 0.6 percent inflation rate from January to July of this year.

3. Baguio City

Baguio City likewise declined to 6.0 percent in July 2022, from 6.2 percent in June 2022. In July of the previous year, inflation in the city was 2.8 percent.

Transport services posted the highest inflation rate among the commodity groups at 20.7 percent. It was followed by alcoholic beverages and tobacco at 13.0 percent and food and non-alcoholic beverages at 10.5 percent.

Inflation rate of the following commodity groups were also as follows:

1. Housing, water, electricity, gas, and other fuels, 2.1 percent;
2. Personal care, and miscellaneous goods and services, 4.0 percent;
3. Furnishing, household equipment and routine household maintenance, 2.4 percent
4. Education services, 1.3 percent
5. Clothing and footwear, 0.7 percent
6. Recreation, sport and culture, 1.8 percent;
7. Health, 1.0 percent
8. Restaurant and accommodation services, 0.7 percent

Meanwhile, information and communication, and financial services had 0 percent inflation for this month.

Note: CPIs and inflation rates by region, province and selected city are posted at the PSA website (https://openstat.psa.gov.ph/).