Consumer Price Index

The Consumer Price Index (CPI) of Ilocos Region in November 2020 was recorded at 124.4. This means that on the average, prices of goods and services in the region have increased by 24.4 percent from the base year 2012.

The region’s CPI was recorded at 119.9 in November 2019 and 122.9 in October 2020

By Province

Among the provinces, Ilocos Norte posted the highest price index in November 2020 at 127.3, followed by Pangasinan at 126.9, and Ilocos Sur at 120.5. However, La Union recorded the lowest at 116.6 in the same period. 

In November 2019, Ilocos Norte had the highest price index at 122.5. It was followed by Pangasinan at 121.8, by Ilocos Sur at 116.9, and La Union at 113.8.

By Commodity Group

The top three commodity groups that recorded high price indices in the region in November 2020 were alcoholic beverages and tobacco (224.3), food and non-alcoholic beverages (134.0), and furnishings, household equipment and routine maintenance of the house (124.9).  On the other hand, the bottom three commodity groups with low price indices were communication (101.7), transport (104.8), and recreatio  and culture (110.7). (see Table 1)

Inflation Rate of the Region

Headline inflation in Ilocos Region settled to 3.8 percent in November 2020. Its inflation rate in the previous month was 2.7 percent while 0.5 percent in November 2019.  

Figure 3 shows that for the past year the highest inflation rate in the region was recorded this month – November 2020 at 3.8 percent. Meanwhile, the lowest inflation rate was noted in the same month in 2019 at 0.5 percent. The inflation rate of the region increased by 1.1 percentage points  from October 2020 to November 2020. Moreover, the inflation rate in November 2020 had increased by 3.3 percentage points compared  to the inflation rate in November 2019.

Inflation Rate by Province

Among the provinces in the region, Pangasinan posted the highest at 4.2 percent in November 2020. This was followed by Ilocos Norte at 3.9 percent and Ilocos Sur at 3.1 percent. The lowest inflation rate was recorded in La Union at 2.5 percent.

All provinces posted an increase in their inflation rate from October 2020 to November 2020. Moreover, La Union posted the highest increase in inflation rate with 1.3 percentage points.

Inflation Rate by Commodity Group

By commodity group, alcoholic beverages and tobacco recorded the highest inflation rate in Ilocos Norte, La Union, and Pangasinan. In Ilocos Sur, the highest inflation rate was recorded in transport commodity. However, Ilocos Norte and La Union recorded transport commodity to have the lowest inflation rate. Meanwhile, Pangasinan and Ilocos Sur recorded the lowest in Recreation and Culture and Housing, Water, Electricity, Gas and Other Fuels, respectively.

Purchasing Power of Peso

The Purchasing Power of the Peso (PPP) in Ilocos Region  was posted at Php0.80 in November 2020.  This means  that the purchasing capability of Php1.00 in 2012 decreased by 20 centavos in November 2020.

Among the provinces, La Union posted the highest PPP in November 2020 with PhP0.86. This was followed by Ilocos Sur with Php0.83 PPP.  Meanwhile, the least was recorded both in Ilocos Norte and Pangasinan with PhP0.79. (see Figure 5)

It can also be observed in Figure 5 that PPPs in all the provinces went down from November 2019 to November 2020. Ilocos Norte, Ilocos Sur,  and Pangasinan posted a decrease of PhP0.03 PPP while La Union recorded a decrease of PhP0.02 PPP.

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