This report presents the Inflation Rate (IR), Consumer Price Index (CPI), and Purchasing Power of Peso (PPP) for all income households in the province of Cavite during the month of November 2022. Inflation Rate (IR) is the annual rate of change or the year-on-year change of the CPI expressed in percent. Inflation is interpreted in terms of declining purchasing power of money. Headline inflation in the Province of Cavite was reported at 6.2 percent this November 2022, the same as last month’s inflation rate. With this month’s inflation, the province’s average inflation from January to September 2022 stood at 4.3 percent. In November 2021, inflation rate was posted at 3.9 percent (see Table 1 and Figure 1). Despite the no change in the headline inflation of the province, higher annual growth rate in the index of the six (6) commodity groups were observed. Food and Non - Alcoholic Beverages rocketed to 10.4 percent, from 9.6 percent last October 2022. Also contributing to the uptrend in the overall inflation in October 2022 were the higher annual increases in the indices of the following commodity groups: Clothing and Footwear, 3.8 percent Furnishing, Household Equipment and Routine Household Maintenance, 5.4 percent Recreation, Sports and Culture, 5.4 percent Restaurant and Accommodation Services, 1.5 percent Personal Care, and Miscellaneous Goods and Services, 4.7 percent On the other hand, five (5) commodity groups showed lower annual increment in the indices compared to last month’s inflation: Alcoholic Beverages and Tobacco, 11.5 percent Housing, Water, Electricity, Gas, and Other Fuels, 3.4 percent Health, 2.2 percent Transport, 8.7 percent Information and Communication, 0.5 percent Meanwhile, Education Services (1.2 percent) and Financial Services (0.0 percent) was stable this month. For food inflation, it increased by 0.8 percent in November 2022, with 10.4 percent inflation compared to its previous month’s record of 9.6 percent (see Table 3). The annual growth rate of Vegetables, tubers, plantains, cooking bananas and pulses went up to 31.0 percent during November 2022, from 20.0 percent last October. In addition, food groups exhibited higher annual increments during the month are the following: Cereals and cereals products, 10.9 percent Fish and other seafoods, 9.1 percent Milk, other dairy products and eggs, 13.8 percent Oils and Fats, 12.6 percent Fruits and Nuts, 5.1 percent Sugar, Confectionery and Desserts, 26.8 percent Ready – made food and other food products, n. e. c., 7.4 percent Meanwhile, Meats and Other Parts of Slaughtered Land Animals dropped to 6.3 percent inflation this month. Lastly, Inflation for Rice and Corn accelerated to 4.8 percent and 18.9 percent during November 2022 compared to 4.6 percent and 6.7 percent last October respectively.
