Consumer Price Index

The Consumer Price Index (CPI) of Ilocos Region in September 2021 was posted at 128.6. This means that on the average, prices of goods and services in the region increased by 28.6 percent from the base year 2012.    

The region’s CPI in September 2021 increased by 4.98 percent from September 2020 and 0.08 percent from August 2021.

By Province

Among the provinces, Pangasinan posted the highest price index in      September 2021 at 131.4. Ilocos Norte followed at 130.5 and Ilocos Sur at 126.7. Meanwhile, La union recorded the lowest price index of 119.1 during period.

Compared to September 2020 levels, all provinces marked increases in price indices. Ilocos Sur recorded the highest increase of 5.58 percent followed by Pangasinan with 5.54 percent, La Union with 4.02 percent and Ilocos Norte with 3.16 percent.

By Commodity Group

The top three commodity groups that recorded high price indices  in the region in September 2021 were: alcoholic beverages and tobacco (240.2); food and non-alcoholic beverages (139.0); and furnishings, household equipment and routine maintenance of the house (129.1).   On the other hand, the bottom three commodity groups with low price indices were: communication (101.9); education (111.3); and recreation and culture (112.5). 

Inflation Rate

As shown in Figure 3, the inflation rate in the Ilocos Region settled  at 5.0 percent in September 2021, the same with the region’s annual rate in the previous month. The inflation rate in September 2020 was recorded at 2.5 percent.

The highest inflation rate in the region was recorded in August  and September 2021 at 5.0 percent. Meanwhile, the lowest inflation rate of 2.5 percent was noted in September 2020.

The inflation rate of the region in September 2021 is the same with that  of August 2021 and higher by 2.5 percentage points compared  to September 2020.

By Province

Among the provinces in the region, Ilocos Sur posted the highest inflation rate at 5.6 percent in September 2021, followed by Pangasinan at 5.5 percent. Inflation rate in La Union was pegged at 4.0 percent. Ilocos Norte has the lowest inflation rate of 3.2 percent.

Compared to their respective levels in September 2020, all provinces, except Ilocos Norte, recorded higher inflation rates. Pangasinan posted the highest increase of 3.1 percentage points. Ilocos Sur and La Union both increased by 2.6 percentage points. Meanwhile, Ilocos Norte’s inflation rate decreased by 0.8 percentage points. 

By Commodity Group

Purchasing Power of Peso

The Purchasing Power of the Peso (PPP) in the Ilocos Region in September 2021 was posted at Php 0.78.  This means that the purchasing capability of Php1.00 in 2012 decreased by 22 centavos in September 2021.  

Among the provinces, La Union posted the highest PPP in September 2021 with Php0.84. It was followed by Ilocos Sur with Php0.79.  Meanwhile, the weakest PPP were recorded in Ilocos Norte and Pangasinan with Php0.77 and Php0.76, respectively. It can be gleaned in Figure 5 that PPP in all the provinces in September 2021 were lower than their respective levels in September 2020. The PPP in Ilocos Sur and Pangasinan went down by Php0.04 while PPP in La Union and Ilocos Norte went down by Php0.03 and Php0.02, respectively.