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. Furthermore, Inflation Rate (IR) is the annual rate of change in the CPI. The CPI and IR series, among others, is being used for economic analysis, collective bargaining agreements, wage adjustments, and monitoring the effects of government economic policy.
The May 2022 issue presents the Price Situation in the province based on the results of the 2018-based CPI, which comprises eleven (13) major commodity groups.