Higher cost of goods and services, transport, food led to the increase in the inflation rate in Catanduanes last April 2022, the Philippine Statistics Authority (PSA) reported last week.
The Inflation Rate (IR) in the province for said month accelerated to 2.8 percent, which translates to a Purchasing Power of the Peso of P0.85.
It is higher than the registered IR of 2.6 percent in March 2022, the Catanduanes Provincial Statistical Office stated.
However, it added, comparing it to the same period last year, a lower annual mark-up of 4.1 points was noted on inflation rate of 6.9 in the same period last year.
The upsurge in inflation for April 2022 was attributed to the Inflation Rates of the following Commodity Groups: Transport (8.0%); Personal Care, and Miscellaneous Goods and Services (5.1%); Restaurants and Accommodation Services (4.1%); Alcoholic Beverages and Tobacco (3.8%); Clothing and Footwear (3.7%); Recreation, Sport and Culture (3.4%); Health (3.1%); Food and Non-Alcoholic Beverages (1.9%); Housing, Water, Electricity, Gas and Other Fuels (1.6%); Furnishings, Household Equipment and Routine Household Maintenance (1.1%); and Information and Communication (1.0%).
Education and Financial Services commodity group retained its price index points for April 2022.
The Consumer Price Index (CPI) for all Income Households in all items in Catanduanes for the month of April 2022 was recorded at 117.3 index points, which is higher compared to last month’s registered index of 117.1. A higher annual mark-up of 3.2 points was noted on CPI of 114.1 in the same period last year.
On a month-on-month basis, general prices of consumer items accelerated at 0.2 percent compared to last month, the PSA said.
The following Commodity Groups recorded an increase in inflation during the month: Transport (1.8%); Alcoholic Beverages, Tobacco (1.5%); Recreation, Sport and Culture (1.1%); Personal Care, and Miscellaneous Goods and Services (0.9%); Clothing and Footwear (0.6%); Housing, Water, Electricity, Gas and Other Fuels (0.3%); and Furnishings, Household Equipment and Routine Household Maintenance (0.1%).
Food and Non-Alcoholic Beverages recorded a decrease of 0.4% in inflation during the month.
Restaurant and Accommodation Services, Information and Communication, Health, Education and Financial Services commodity group retained its price indices during the month.