Consumer Price lndex

The Consumer Price lndex (CPl) of llocos Region in November 2021 was posted at 129.1 . This means that on the average, prices of goods and servaces in the region increased by 29.1 percent from the base year 2012.

The region's CPI in November 2021 increased by 3.8 percent from November 2020.

Among the provinces, llocos Norte posted the highest price index in November 2021 al l 31 .6. Pangasinan followed at 1 31 .5 and llocos Sur at 127.1. Meanwhile, La Union recorded the lowest price index of 120.4 during the period.

Compared from the November 2020 levels, all provinces marked increases in price index. llocos Sur recorded the highest increase of 5.48 percent. Pangasinan registered a price index of 3.62 percent, llocos Norte with 3.38 percent and La Union with 3.26 percent.

By Commodity Group

The top three commodity groups that recorded high price indices in November 2021 CPI were. alcoholic beverages and tobacco (2a3.8); food and non-alcoholic beverages (138.4); and furnishings, household equipment and routine maintenance of the house (129.3). On the other hand, the bottom three commodity groups with low price indices were: communication (101.9); education (111.3): and recreation and culture (112.7).

As shown in Figure 3, the inflation rate in the llocos Region settled at 3.8 percent in November 2021. The region's annual rate in the previous month was 4.7 percent, while 3.8 percent in November 2020.

The highest inflation rate was observed in the months of August and September 2021 at 5.0 percent. Meanwhile, the lowest inflation rate was noted in the month of December 2O2O at 3.6 percent.

The inflation rate in November 2021 is Iower by 0.9 percentage point from October 2021, but the same with November 2020.

By Province

Among the provinces in the region, llocos Sur posted the highest inflation rate at 5.5 percent in November 2021, followed by Pangasinan at 3.6 percent. lnflation rates in llocos Norte and La Union were pegged at 3.4 and 3.3 percent, respectively.

Compared to their respective levels in November 2020, llocos Sur and La Union recorded higher inflation rates. llocos Sur recorded the highest increase of 2.4 percentage points while La Union has increased by 0.8 percentage point. Meanwhile, Pangasinan and llocos Norte recorded lower inflation rates with 0.6 and 0.5 percentage points, respectively.

The alcoholic beverages and tobacco recorded the highest inflation rate among the commodity groups in the region with 19.4. lt was followed by the food and non-alcoholic beverages with 4.8, and restaurant and miscellaneous goods and services with 3.7. Meanwhile, recreation and culture, and communication have the lowest inflation rates of -0.4 and 0.1, respectively.

Purchasing Power of Peso

The Purchasing Power of the Peso (PPP) in the llocos Region in November 2021 was posted at Php0.77. This means that the purchasing capability of Php1.00 in 2012 decreased by 23 centavos.

Among the provinces, La Union posted the highest PPP in November 2021 with Php0.83. lt was followed by llocos Sur with Php0.79 PPP. Meanwhile, llocos Norte and Pangasinan both recorded Php0.76 PPP.

It can be gleaned in Figure 5 that PPPs in all the provinces in November 2021 were lower than their respective levels in November 2020. The PPPs in llocos Norte, La Union and Pangasinan went down by Php0.03 while llocos Sur decreased by Php0.04.

SGD. ATTY. SHEILA O. DE GUZMAN, CPA

Regional Director, RSSO I