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 July 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 129.6 increased by 7.8 points from last year's index of 121.8. Alcoholic Beverages Tobacco registered the highest index point change of 45.6, from 292.6 of previous year's month of July to 338.2 of this year's same month. Second in rank was "Food Non alcoholic Beverages" which rose from 127.6 to 138.7 index level. Moreover, index gains were also observed in "Restaurants and Miscellaneous Goods and Services" and “Transport” with 7.1 and 5.3 index point change, respectively. Similarly, the annual hike in "Housing, Water, Electricity, Gas and Other Fuels" was registered at 4.1 points; "Health" at 2.4 points; "Recreation and Culture" at 1.2 points, "Furnishings, Household Equipment and Routine Maintenance of the House" at 1.1 points; and "Education" at 1.0 point, Among the commodity groups, “Clothing and Footwear” posted the lowest increase of 0.9. 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 0.6, from 129.0 to 129.6 index points. For this month, "Housing, Water, Electricity, Gas and Other Fuels" increased by 2.1 points brought about by price hike in petroleum products. Likewise, price increase were also observed in "Food Non-alcoholic Beverages" and “Transport” both posted with 0.7 index difference. Meanwhile, "Alcoholic Beverages Tobacco" and "Restaurants and Miscellaneous Goods and Services" both leveled up by 0.4 point, while "Clothing and Footwear", “Health”, and “Recreation and Culture” all add-up 0.1 point to their respective indices. The rest of the commodity groups, specifically, “Furnishings, Household Equipment and Routine Maintenance of the House", “Communication" and "Education" retained their last month's indices, thus recorded zero growth rates. During this month (July 2021), index of corn increased by 6.5 points and was posted at 174.8, brought about by low supply in the market, while rice remained stable. “Vegetables”, “fruits”, and “oils and fats” had their indices stepped up by 14.6, 3.9 and 1.3 points,respectively. Meanwhile, CPI of “sugar, jam, honey, chocolate and confectionery”, “milk, cheese and eggs” and “bread and cereals” added 0.4, 0.3 and 0.2 point to their respective indices. On the other hand, “fish”, “meat” and “food products n.e.c.” all had downward trend, recording -1.1, -0.8, and -0.6 index difference. The index for non-food items moved up from 116.1 to 116.7, posting a 0.6 index difference. “Clothing” index increased by 0.1 while “footwear” remained stable. “Maintenance repair of the dwelling” and the energy resources “electricity, gas and other fuels” both increased by 0.5 and 4.5, respectively. Index of “furniture and furnishings,carpets other floor coverings”, “household textiles”, and “household appliances” moved up by 0.4, 0.1, and of 0.2 point, respectively. “Medical products, appliances equipment” had 0.3 index increment due to price increase of some medicines. The closely monitored prices of gasoline and diesel products hadupward movement, posting a 4.5 index difference to the “operation of personal transport equipment”, while transport services slightly moved by 0.1 point. Indices of both “other recreational items equipment” and “newspapers, books, and stationery” had 0.3 upward movement. “Catering services”, “personal care”, and “personal effects n.e.c” marked 0.5, 0.2, and 0.3 index adjustments, respectively. The rest of the commodity groups remained stable during the month.
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