CPI Releases

The headline inflation rate at the regional level maintained at 7.1 percent in
August 2022. In the same reference month of the previous year, it posted at 4.1 percent. The 7.1 percent inflation in August 2022 was mainly contributed by selected commodity groups such as (1) food and non-alcoholic beverages, with 7.9 percent inflation, (2) housing, water, electricity, gas, and other fuels, with 6.1 percent inflation, and (3) transport, with 13.0 percent inflation. The inflation of financial services was recorded at 0.0 percent, the only commodity group which retained its index.

The headline inflation rate at the regional level accelerated for the seventh consecutive month, to 7.1 percent in July 2022, or a 1.2-percentage point increase from the inflation rate in the previous month. In July 2021, it posted at 4.5 percent. The uptrend of inflation in July 2022 was mainly driven by the combined acceleration in the indices of food and non-alcoholic beverages at 7.4 percent; housing, water, electricity, gas and other fuels at 6.0 percent; and alcoholic beverages and tobacco at 7.9 percent. The only deceleration among the commodity groups were recorded for transport at 16.7 percent and information and communication at 1.1 percent.

The headline inflation rate at the regional level quickened for the sixth consecutive month, to 5.9 percent in June 2022, or a 0.6-percentage point increase from the inflation rate in the previous month. In the same reference month of the previous year, it posted at 4.2 percent. The uptrend of inflation in June 2022 was mainly driven by the combined acceleration in the indices for selected commodity groups such as food and non-alcoholic beverages at 5.9 percent, transport at 17.1 percent, and clothing and footwear at 4.7 percent. The inflation of health was recorded at 1.4 percent, the only deceleration among the commodity groups.

The headline inflation rate at the regional level continues to exhibit a faster growth, to 4.1 percent in April 2022, or a change of 0.7 percentage point from the inflation rate in the previous month. In the same reference month of the previous year, it posted at 6.2 percent. The uptrend of inflation in April 2022 was mainly driven by the combined acceleration in the indices for selected commodity groups such as food and non-alcoholic beverages at 3.1 percent, transport at 13.7 percent, and housing, water, electricity, gas and other fuels at 3.4 percent.

The headline inflation rate at the regional level jumped to 5.3 percent in May 2022, or a 1.2-percentage point increase from the inflation rate in the previous month. In the same reference month of the previous year, it posted at 5.4 percent. The uptrend of inflation in May 2022 was mainly driven by the combined acceleration in the indices for selected commodity groups such as food and non-alcoholic beverages at 4.9 percent, transport at 15.6 percent, and housing, water, electricity, gas and other fuels at 4.0 percent. The inflation of health was recorded at 1.5 percent, the only deceleration among the commodity groups.

Table 1. Year-on-Year Inflation Rates (%) in the Philippines and MIMAROPA Region, by Province
(2012=100)