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 Benguet

By Commodity Groups

In percent

(2018=100)

Figure 1. Inflation Rates in CAR, All Items

(2018=100)

Figure 2. Inflation Rates in Benguet, All Items

(2018=100)

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. Benguet

Similar to the trend at the regional level, inflation in Benguet declined from 9.8 percent in June 2022 to 9.5 percent in July of the same year. In July 2021, inflation in the province stood at 2.8 percent.

Transport services posted the highest inflation rate among the commodity groups at 39.2 percent. It was followed by food and non-alcoholic beverages at 8.9 percent inflation rate and restaurant and accommodation services still at 8.6 percent.

Meanwhile, only education services had recorded deflation among the commodity groups. Inflation rate for the said group is still at -0.7 percent.

Contributing also to the inflation in the province were the following commodity groups:

1. Alcoholic beverages and tobacco, 7.9 percent;
2. Housing, water, electricity, gas, and other fuels, 4.6 percent;
3. Personal care, and miscellaneous goods and services, 6.6 percent;
4. Clothing and footwear, 5.5 percent;
5. Recreation, sport and culture, 3.9 percent;
6. Health, 3.2 percent
7. Furnishing, household equipment and routine household, 2.4 percent
8. Information and communication, 1.4 percent
9. Financial services, 0 percent

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