June 2021 Price Situation in Rizal

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Friday, July 30, 2021
June 2021 Price Situation in Rizal 
The Consumer Price Index (CPI) measures the changes in the price level of goods and services that most people buy for their day-to-day consumption. It is most widely used in the calculation of the inflation rate and purchasing power of the peso. The CPI series, among others, is being used for economic analysis, collective bargaining agreements, wage adjustments, and monitoring the effects of government economic policy.
The June 2021 issue presents the Price Situation in the province based on the results of the 2012-based CPI, which comprises eleven (11) major commodity groups.
The CPI of Rizal for all items was 129 increased by 7.3 points from last year's index of 121.7.
Alcoholic Beverages & Tobacco registered the highest index point change of 46.7, from 291.1 of previous year's month of June to 337.8 of this year's same month. Second in rank was "Food & Non alcoholic Beverages" which rose from 128.2 to 138.0 index level. Moreover, index gains were also observed in "Transport" and "Restaurants and Miscellaneous Goods and Services" with 6.9 and 6.8 index point change, respectively.
Similarly, the annual hike in "Health" was registered at 3.2 points; "Housing, Water, Electricity, Gas and Other Fuels" at 2.1 points; "Furnishings, Household Equipment and Routine Maintenance of the House" and "Recreation and Culture" both at 1.2 points; and "Education" at 1.0 point,
Among the commodity groups, “Clothing and Footwear” posted the lowest increase of 0.5. Declining trend was noticed in “Communication” with -0.3 index point change.
The price situation in Rizal on the month-on-month basis went up by 0.7, from 128.3 to 129.0 index points.
For this month, "Alcoholic Beverages & Tobacco" increased by 1.8 points brought about by price hike in liquor. Likewise, price increase was observed in "Restaurants and Miscellaneous Goods and Services" with 2.1 points.
"Food & Non-alcoholic Beverages" augmented by 0.5 point, while upward movement were also observed at "Housing, Water, Electricity, Gas and Other Fuels" with 0.8 point change, "Clothing and Footwear" by 0.7 point, "Transport" by 0.4 point, "Recreation and Culture" by 0.2 point same with the "Furnishings, Household Equipment and Routine Maintenance of the House" commodity group.
On the other hand, "Health" posted a -0.4 index difference.
The rest of the commodity groups, specifically, "Communication" and "Education" retained their last month's indices, thus recorded zero growth rates.
Figure 3 showed that the heavily weighted Food item shared the 2nd least portion among foodstuff categories with 138.7 index points. This was higher by 0.5 point compared last month.
Between the two types of beverages, Alcoholic shared larger portion (18%) than the Non- alcoholic (15%). The first marked a 4.9  increase, while the latter augmented by 0.8 point.
Tobacco didn’t show any index movement..
During this month (May 2021), index of corn decreased by 8.6 points and was posted at 168.3, brought about by high supply in the market, while rice remained stable.
“Meat”, “fish”, and “milk, cheese and eggs” all had their indices decreased by 0.6, 2.4 and 0.2, respectively. Meanwhile, “oil and fats” had stable index.
The “fruits” decreased by 1.3 points while the “vegetables” increased substantially by 19.9 points.
Both the sweet products (Sugar, Jam, Honey, Chocolate and Confectionery) and Food Products N.E.C. decreased by 2.4 and 0.9, respectively.
The index for non-food items moved up from 115.3 to 116.1, posting a 0.8 index difference.
“Clothing” index points increased by 1.0 while the “footwear” remained stable.
“Maintenance & repair of the dwelling” and the energy resources “electricity, gas and other fuels” both increased by 1.8 and 1.4, respectively. Index of “furniture and furnishings, carpets & other floor coverings”, “household textiles”, “household appliances”, “glassware, tableware, and household utensils”, and “tools & equipment for house” moved up by 1.2, 0.5, 1.2, 0.8 and of 0.1 point, respectively.
“Medical products, appliances & equipment” had 1.2 index decrement, while the “out-patient services” leveled up by 2.1 points.
The closely monitored prices of gasoline and diesel products had upward movement, posting a 2.8 index difference to the “operation of personal transport equipment”.
“Newspapers, books, and stationery” had 0.9 upward movement, while “other recreational items & equipment” posted -0.1 index change.
“Catering services”, “personal care”, and “personal effects n.e.c” marked 2.9, 0.4, and 0.7 index adjustments, respectively.
The rest of the commodity groups remained stable during the month.