The Inflation Rate in the Province of Ilocos Norte increased from 7.6 percent in June 2022 to 8.3 percent in July 2022. This is the highest inflation recorded from January 2019 to June 2022. The recorded inflation rate in the Province of Ilocos Norte is higher than the recorded National Inflation Rate (6.4%).In addition, inflation in 2021 was lower at  3.1 percent as compar4ed last year.The average inflation for the first six month in 2022 was 6.2 percent (Table A and Figure 1). The recorded Inflation Rate of the province is higher than the recorded Inflation Rate of the Philippines (6.4%) and Ilocos Region (6.3%)

In July 2022, Ilocos Norte had the  highest Inflation Rate in Ilocos Region, next was Ilocos Sur with a recorded Inflation Rate of 7.6 percent. Pangasinan and La Union recorded 6.0 percent and 4.3 percent, respectively.

The increase in the province’s inflation was attributed to the increase of all commodity groups except for Financial Services, Education Services and Information and Communication which retained their previous year’s inflation rate or had zero percent annual growth.(Figure 2)

Shown in the above table, the biggest increase was observed in the index of transportation (23.1%) compared to last year’s prices. This was followed by Food and Non- alcoholic beverages (11.2 %), Housing, Water, Electricity, Gas and Other Fuel (5.9%) and Alcoholic Beverages and Tobacco (5.3%) in a month-to-month basis. (Table 3)

SGD. MARILYN P. VERGARA

Chief Statistical Specialist