The Consumer Price Index (CPI) is an indicator of the change in the average retail prices of goods and services commonly purchased by the households for their day-to-day consumption. Specifically, CPI is not only used to compute and determine the inflation rate and purchasing power of the currency (peso), but it is also being used as a basis in adjusting wages and taxes, economic analysis, and monitoring the effects of government’s economic policy. This issue presents the June 2019 price situation in Quezon province based on the results of the 2012-Based CPI survey which comprises eleven major commodity groups namely Food and Non-Alcoholic Beverages; Alcoholic Beverages and Tobacco; Clothing and Footwear; Housing, Water, Electricity, Gas & other Fuels; Furnishings, Household Equipment and Routine Maintenance of the House; Health; Transport; Communication; Recreation and Culture; Education; and Restaurants & Miscellaneous Goods and Services. Data are being collected from the sample outlets/establishments where prices of commodities or services are quoted. The survey is done twice a month in the provincial capital and once a month in selected municipalities. The first phase of the survey operation is being conducted every first week of the month while the second phase is carried out during third week of the same reference month.
The Consumer Price Index (CPI) in Quezon province for the month of June 2019 was posted at 120.8 index points. The CPI increased by 1.8 index points from last year’s figure of 119.0.
CPI by commodity group, Year-on-Year
Alcoholic beverages and tobacco showed the highest CPI (266.2 index points) among the commodity groups. The group of education followed with 125.7 index points. Transport registered the least CPI of 101.1 index points followed by communication with 102.5 index points.
Inflation Rate, Year-on-Year
The inflation rate (IR) in the province was recorded at 1.5 percent during the reference month. It decreased by 0.1 percentage point from the previous month’s figure of 1.6 percent and by 4.1 percentage points from the rate a year ago at 5.6 percent.
Inflation Rate by Commodity Group, Year-on-Year
By commodity group, IR was highest for alcoholic beverages and tobacco, posted at 14.8 percent during the month. Recreation and culture (3.6 percent) exhibited the second highest IR, followed by commodity group of furnishings, household equipment and routine maintenance of the house (2.5 percent). There was no change in the prices of commodities under the commodity group of housing, water, electricity, gas and other fuels. The rest of the commodity groups had IR ranging from 0.2 percent (health) to 1.6 percent (clothing and footwear).
See more at ISSN 430 Data Herald 2019 June CPI