Release Date :
Reference Number :
2020-027
llocos Region's CPI posts at 122.2 in July 2020
The Consumer Price lndex (CPl) of llocos Region in July 2020 was posted al 122.2. This means that on the average, prices of goods and services in the region have increased by 22.2 percent from the base year 2012. The region's CPI was recorded al 121.6 in June 2020 and at 119.0 in July 2019.
The top three commodity groups that recorded high price indices were: alcoholic beverages and tobarco (216.2)', food and non-alcoholic beverages (129.7); 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: and education (109.8); transport (102.0); and communication (101.7).
Among the provinces, llocos Norte posted the highest price index at 125.6, followed by Pangasinan at 124.3, and llocos Sur at 119.0. On the other hand, La Union recorded the lowest price index at 1 15.0.
llocos Region's inflation rate stands at 2.7 percent in July 2020
Headline inflation in llocos Region settled to 2.7 percent in July 2020. Its annual rate in the previous month was 2.4 percent and 2.8 percent in July 2019.
Figure 1 shows that the highest inflation rate in the region was recorded in July 2019 at 2.8 percent. Meanwhile, a negative inflation rate was noted in September and October 2019. Both month recorded a rate of 0.2 percent.
Among the provinces in the region, llocos Sur posted the highest inflation rate at 3.6 percent in July 2020. This was followed by llocos Norte at 3.4 percent and Pangasinan at 2.7 percent. Meanwhile, the lowest inflation rate was observed in La Union at 1.6 percent.
By commodity group, alcoholic beverages and tobacco recorded the highest inflation rate in llocos Norte, La Union and Pangasinan. ln llocos Sur, the highest inflation rate was registered by both alcoholic beverages and tobacco and restaurant and miscellaneous goods and services. On the other end, the transport commodtty recorded the lowest inflation rate in llocos Norte and llocos Sur. Housing, water, electricity, gas, and other fuels recorded the lowest inflation rate in La Union, while communication and education has the lowest inflation rate in Pangasinan.
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
Officer-in-Charge, RSSO I
