1. Philippines

The headline inflation in the Philippines accelerated to 6.9 percent in September 2022, from 6.3 percent in August 2022. This is the highest recorded inflation since October 2018. With this month’s inflation, the Philippines’ average inflation rate from January to September 2022 stood at 5.1 percent. In September 2021, inflation rate was observed at 4.2 percent.

The acceleration in the country’s inflation rate in September 2022 was primarily due to the higher annual growth rate in the index for food and non-alcoholic beverages at 7.4 percent, from 6.3 percent in August 2022. This was followed by housing, water, electricity, gas, and other fuels with 7.3 percent annual growth, from 6.8 percent in August 2022.

2. Cordillera Administrative Region (CAR)

Following the trend at the national level, inflation in CAR accelerated from 6.5 percent in August 2022 to 6.6 percent in September of the same year.

The top 3 commodity groups in terms of inflation in September 2022 was transport with an inflation rate of 25.7 percent, alcoholic beverages and tobacco index at 9.1 percent, and restaurants and accommodation services at 7.7 percent.

Inflations of following commodity groups were also as follows:

1. Food and non-alcoholic beverages, 4.7 percent;
2. Housing, water, electricity, gas and other fuels, 5.4 percent;
3. Personal care, and miscellaneous goods and services, 4.3 percent;
4. Clothing and footwear, 3.4 percent;
5. Recreation, sport and culture, 3.8 percent;
6. Health, 3.0 percent;
7. Furnishing, household equipment and routine household maintenance, 2.5 percent
8. Education services, 1.6 percent
9. Information and communication, 0.1 percent

Financial services had zero percent inflation rate during the month.

3. Baguio City

Contrary to the trend of national and provincial inflation rate, Baguio City slightly decreased to 4.6 percent in September 2022 from 4.7 percent in August.

Transport services posted the highest inflation rate among the commodity groups at 17.5 percent. It was followed by alcoholic beverages and tobacco at 11.0 percent, and food and non-alcoholic beverages at 6.5 percent.

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

1. Housing, water, electricity, gas, and other fuels, 1.8 percent;
2. Personal care, and miscellaneous goods and services, 4.7 percent;
3. Furnishing, household equipment and routine household maintenance, 1.3 percent
4. Education services, 1.5 percent
5. Clothing and footwear, 1.0 percent
6. Recreation, sport and culture, 1.8 percent;
7. Health, 1.4 percent
8. Restaurant and accommodation services, 3.1 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/).