Occidental Mindoro's Inflation accelerated to 6.5 percent in September 2022, from 5.4 percent in August 2022. Inflation in September 2021 was posted at 6.4 percent. The upward trend in the province's inflation was primarily due to the higher annual increment registered in ten (10) commodity groups. Similarly, Inflation in MIMAROPA accelerated to 7.6 percent in September 2022. In September 2()21 , inflation in the region was lower at 3.3 percent.

Inflation Rate by Commodity Group
    Monthly uptick was higher in the inflation rates of the following commodity groups, when compared with the annual figures from the previous month:

      Restaurants, and Accommodation Services, 2.5%    - (60.1% share to inflation trend)
      Food and non-Alcoholic Beverages, 5.2%    - (13.3% share to inflation trend)
      Information and Communication, 4.2% (4.7% share to inflation trend)

      Alcoholic Beverages and Tobacco, 9.2%
      Personal care, and Miscellaneous Goods and Services, 5.3%
      Housing, Water, Electricity, Gas and Other Fuels, 5.0%
      Furnishings, Household Equipment and Routine Household Maintenance, 3.5%   Health, 2.7%
      Clothing and Footwear, 2.9%
      Recreation, Sport, and Culture, 3.6%

Lower annual gains were observed in the inflation rates of the following commodity groups when compared with the annual figures from the previous month:
       Transport, 15.1%
Meanwhile, the indices Of Education Services, and Financial Services maintained their inflation rates for the month of September 2022. There was no significant change compared to the annual figure from the previous Retail Price Survey (RPS) of Selected Commodifies and Services for the Generation of Consumer Price Index (CPI):

Inflation Rate by Food Group

Inflation for food index in the province increased to 5.1 in September 2022 from 4.8 last August 2022. In  September 2021 , it was registered at 6.8 percent.
The annual indices of commodities with top contributions to the inflation rate of the province are the following:
 Rice, 3.6%, (21.6 percent contribution to inflation)
 Meat and other parts of slaughtered land animals, 7.9%, (256 percent contribution to inflation)
 Sugar, confectionery, and desserts, 39.7% (24.2 percent contribution to inflation) 
Additionally, Corn, Oils and fats, and Ready-made Food and Other Food Products have an upward trend when compared last month. While Meat and other parts of slaughtered land animals; Fish and other seafood; Milk, other dairy products, and eggs; Fruits and nuts; and Vegetables tubers, plantains, cooking bananas, and pulses have downward trends, resulting with the inflation rate of food group to increase at 5.2 percent.

 

Purchasing Power of the Peso (PPP)
• The purchasing power of the peso in Occidental Mindoro in September 2022 is at Php 0.81 peso. This figure means that a peso in 2018 is only worth 81 centavos in August 2022, while the PPP registered at 0.86 in September 2021. As a result, the amount of goods that can be presently purchased by consumers were fewer compared to when the PPP was higher. Fufthermore, the decrease in PPP was attributed to the higher inflation rate, given that they have an inverse relationship.