Release Date :
Reference Number :
2020-51
Consumer Price Index
The Consumer Price Index (CPI) of Ilocos Region in August 2020 was posted at 122.4. This means that on the average, prices of goods and services in the region have increased by 22.4 percent from the base year 2012.
The region’s CPI was recorded at 119.3 in August 2019 and 122.2 in July 2020.
By Province
Among the provinces, Ilocos Norte posted the highest price index in August 2020 at 126.5, followed by Pangasinan at 124.5, and Ilocos Sur at 118.6. On the other hand, La Union recorded the lowest price index at 114.8 in the same period. (see Figure 2)
In August 2019, Ilocos Norte recorded the highest price index at 121.7, followed by Pangasinan at 121.3, Ilocos Sur at 115.7, and La Union at 113.6.
By commodity Group
The top three commodity groups that recorded high price indices in the region in August 2020 were: alcoholic beverages and tobacco (216.6); food and non-alcoholic beverages (130.1); and furnishings, household equipment and routine maintenance of the house (124.7). On the other hand, the bottom three commodity groups with low price indices were: communication (101.7); transport (102.3); and education (109.8).
Inflation Rate
Headline inflation in Ilocos Region settled to 2.6 percent in August 2020. Its annual rate in the previous month was 2.7 percent and 1.8 percent in August 2019.
Figure 3 shows that the highest inflation rate in the region was recorded in February and July 2020, both at 2.7 percent. Meanwhile, a negative inflation rate was noted in September and October 2019, both at 0.2 percent.
The inflation rate of the region decreased by 0.1 percentage point from July 2020 to August 2020. The inflation rate in August 2020 is higher by 0.8 percentage point compared to that of inflation rate in August 2019.
By Province
Among the provinces in the region, Ilocos Norte posted the highest inflation rate at 3.9 percent in August 2020. This was followed by Pangasinan at 2.6 percent and Ilocos Sur at 2.5 percent. Meanwhile, the lowest inflation rate was observed in La Union at 1.1 percent.
Ilocos Norte posted the highest increase in inflation rate with 1.6 percentage points from August 2019 to August 2020. Meanwhile, Ilocos Sur recorded a decrease of 0.8 percentage point from August 2019 to August 2020.
By Commodity Group
By commodity group, alcoholic beverages and tobacco recorded with the highest inflation rate in Ilocos Norte, La Union and Pangasinan. In Ilocos Sur, the highest inflation rate was registered in restaurant and miscellaneous goods and services. Meanwhile, the transport commodity recorded the lowest inflation rate in Ilocos Norte. Housing, water, electricity, gas, and other fuels recorded the lowest inflation rate in Ilocos Sur and La Union, while recreation and culture in Pangasinan.
Among the provinces, La Union posted the highest PPP in August 2020 with PhP0.87. This was followed by Ilocos Sur with Php0.84 PPP. Pangasinan registered a PPP of PhP0.80 while the least was recorded in Ilocos Norte with PhP0.79.
It can be gleaned in Figure 5 that PPPs in all the provinces went down from August 2019 to August 2020. Ilocos Norte posted the highest decrease at PhP0.03 PPP. La Union recorded a decrease of PhP0.01 PPP from August 2019 to August 2020.
SGD. ATTY. SHEILA O. DE GUZMAN
Officer-in-Charge, RSSO I
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