The Consumer Price Index in Quezon (2012=100) 2018 Report
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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 January to December 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. CPI, Year-on-Year CPI, Year-on-Year The average Consumer Price Index (CPI) in Quezon for the year 2018 was estimated at 119.7 index points, higher by 6.7 index points from its year ago figure of 113.0. CPI by commodity group, Year-on-Year Alcoholic beverages and tobacco posted the highest CPI of 229.5 index points. The group of education followed with 124.0 index points. Transport items registered the least CPI of 100.5 index points followed by communication with 102.0 index points. All commodity groups recorded price index increments. Inflation Rate, Year-on-Year Average inflation rate (IR) in Quezon increased by 1.9 percentage points from 4.0 percent in 2017 to 5.9 percent in 2018. The highest IR noted in 2018 was in September at 7.6 percent. Compared to 2017, the highest IR recorded was in the month of March (5.0 percent). See more at ISSN 403 Data Herald 2018 January-December CPI
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