Consumer Price Index

The Consumer Price Index (CPI) of Ilocos Region in October 2021 was posted at 128.7. This means that on the average, prices of goods and services in the region increased by 28.7 percent from the base year 2012.

The region’s CPI in October 2021 increased by 4.72 percent from October 2020.

By Province

Among the provinces, Pangasinan posted the highest price index in October 2021 at 131.4. Ilocos Norte followed at 130.8 and Ilocos Sur at 126.6. Meanwhile, La Union recorded the lowest price index of 119.4 during period.

Compared from the October 2020 levels, all provinces marked increases in price index. Ilocos Sur recorded the highest increase of 6.30 percent followed by Pangasinan with 4.95 percent, La Union with 3.92 percent and Ilocos Norte with 3.32 percent.

By Commodity Group

The top three commodity groups that recorded high price indices in the region during the October 2021 CPI were: alcoholic beverages and tobacco (241.5); food and non-alcoholic beverages (138.6); and furnishings, household equipment and routine maintenance of the house (129.2). On the other hand, the bottom three commodity groups with low price indices were: communication (101.9); education (111.3); and recreation and culture (112.6).

Inflation Rate

As shown in Figure 3, the inflation rate in the Ilocos Region settled at 4.7 percent in October 2021. The region’s annual rate in the previous month was 5.0 percent, while 2.7 percent in October 2020.

The highest inflation rate in the region was recorded in the months of August and September 2021 at 5.0 percent. Meanwhile, the lowest inflation rate was noted in the month of October 2020 at 2.7 percent.

The inflation rate of the region in October 2021 is lower by 0.3 percentage point from September 2021, but 2.0 percentage points higher compared to October 2020.

By Province

Among the provinces in the region, Ilocos Sur posted the highest inflation rate at 6.3 percent in October 2021, followed by Pangasinan at 5.0 percent. Inflation rates in La Union and Ilocos Norte were pegged at 3.9 and 3.3 percent, respectively.

Compared to their respective levels in October 2020, all provinces recorded higher inflation rates. Ilocos Sur recorded the highest increase of 4.3 percentage points. La Union and Pangasinan have increased by 2.7 and 1.9 percentage points, respectively. Meanwhile, Ilocos Norte has increased by 0.2 percentage point.

By Commodity Group

The alcoholic beverages and tobacco recorded the highest inflation rate among the commodity groups in the region with 11.4. It was followed by the transport with 9.5, and food and non-alcoholic beverages with 5.8. Meanwhile, education, and communication have the lowest inflation rates of 0.0 and 0.2, respectively.

Purchasing Power of Peso

The Purchasing Power of the Peso (PPP) in the Ilocos Region in October 2021 was posted at Php0.78. This means that the purchasing capability of Php1.00 in 2012 decreased by 22 centavos.

Among the provinces, La Union posted the highest PPP in October 2021 with Php0.84. It was followed by Ilocos Sur with Php0.79 PPP. Meanwhile, the least were recorded in Ilocos Norte and Pangasinan, both at Php0.76.

It can be gleaned in Figure 5 that PPPs in all the provinces in October 2021 were lower than their respective levels in October 2020. The PPPs in Ilocos Norte and La Union both went down by Php0.03. Pangasinan and Ilocos Sur likewise decreased by Php0.04 and Php0.05, respectively.