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 2018 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 2018 was posted at 119.0 index points.The CPI increased by 6.3 index points from last year’s figure of 112.7.
CPI by commodity group, Year-on-Year
Alcoholic beverages and tobacco showed the highest CPI (231.8 index points) among the commodity groups. The group of education followed with 123.9 index points. Transport items registered the least CPI of 100.0 index points followed by communication with 102.1 index points.
Inflation Rate (IR) indicates how fast or slow price (CPI) changes over two time periods.
Inflation Rate, Year-on-Year
The inflation rate (IR) in the province was recorded at 5.6 percent during the reference month. It decreased by 0.7 percentage points from the previous month’s figure of 6.3 percent but increased by 1.8 percentage points from the rate a year ago 3.8 percent.
Inflation Rate by Commodity Group, Year-onYear
By commodity group, IR was highest for alcoholic beverages and tobacco, posted at 23.6 percent during the month. Housing, water, electricity, gas and other fuels (10.9 percent) exhibited the second highest IR, followed by commodity groups of food and non-alcoholic beverages and transport (both with 5.6 percent). The rest of the commodity groups had IR ranging from 0.6 percent (both health and education) to 5.5 percent (restaurant and miscellaneous goods and services).
See more at ISSN 378 Data Herald 2018 June CPI