The inflation rate of the region increased by 0.3 percentage point lrom 2.4 percent in June 2O2A b 2.7 percnnl in July 2020 as shown in Figure 2. The inflation rate in July 2020 is lower by 0.1 percentage point at 2.7 percent compared to the inflation rbte in July 2019.
llocos Norte posted the highest increase in inflation rate from 2.7 percent in July 2019 to 3.4 percent in July 2020 while Pangasinan registered a 0.2 percentage point decrease in inflation rate from 2.9 percent in July 2019 to 2.7 percent in July 2020.
PPP in Ilocos Region remains at PhP 0.82 in July 2020
The Purchasing Power of the Peso (PPP) in llocos Region was posted at PhP0.82 in July 2020. This means that the purchasing capability of PhP1.00 in 2012 decreased by 18 centavos in July 2020.
Among the provinces, La Union posted the highest PPP in July 2O2O with PhP0.87. This was followed by llocos Sur with PhP0.84 PPP. llocos Norte and Pangasinan registered the same PPP with PhP0.80.
It can be gleaned in Figure 3 that PPPs in all the provinces went down from July 2019 to July 2020, llocos Sur and Pangasinan posted the highest decrease both at PhP0.03 PPP. La Union recorded only a decrease of PhP0.01 PPP in July 2019 to July 2020.
SGD. ATTY. SHEILA O. DE GUZMAN