Monday, May 27, 2019
The Davao del Norte headline inflation rate remained at 2.0 percent in April 2019. This figure is lower than the 5.1 percent rate recorded on the same month of the previous year.
Increase in the average retail price of the fixed basket of consumer goods and services were observed in the reference month, moving to 120.7 from 118.3 in April 2018. Indices of all commodity groups exhibited annual upticks, excluding education.
The increase in the consumer price index in the province can be attributed to the annual gain in the indices of health and alcoholic beverages and tobacco, which increased by 8.8 percent (117.1 to 127.4) and 5.7 percent (161.9 to 171.2), respectively. Increments were also recorded in the indices of transport (102.7 to 106.6), restaurant and miscellaneous goods and services (122.1 to 126.7), recreation and culture (117.6 to 121.9), clothing and footwear (126.1 to 130.2), furnishings, household equipment and routine maintenance of the house (116.3 to 119.8), housing, water, electricity, gas and other fuels (121.7 to 124.4), food and non-alcoholic beverages (117.5 to 118.1), and communication (101.4 to 101.8)
Meanwhile, a decrease of 7.0 percent was posted in the index of education (127.2 to 118.3).
The change in the consumer price index resulted to a 0.7 percent increase from the 119.9 percent rate in March 2019 to the 120.7 record in April 2019.
The index of transport registered this biggest increase of 1.0 percent (105.5 to 106.6), followed by food and non-alcoholic beverages with 0.8 percent (117.2 to 118.1). Likewise, gains were exhibited in the indices of housing, water, electricity, gas and other fuels (123.6 to 124.4), restaurant and miscellaneous goods and services (126.0 to 126.7), furnishings, household equipment and routine maintenance of the house (119.5 to 119.8), and clothing and footwear (130.1 to 130.2).
All the other commodity groups retained the indices from the previous month.
Consequently, the purchasing power of peso in Davao del Norte remained at 0.83 in April 2019.
Consumer Price Index (CPI)
An indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by households relative to a base year.
Components of the CPI
A sample of the the variety of goods and services commonly consumed by an average Filipino household to represent the price behavior of all goods and services brought by consumer.
A value attached to a commodity or group of commodities depending on the magnitude of its contribution to the index.
A reference date at which the index is equal to 100. Base year is 2012.
Establishments where prices of commodities are quoted.
The Philippines by region and province and for NCR.
Laspeyre’s formula: fixed base year and weights.
The annual rate of change or the year-on-year changes in the average retail prices expressed in percent.
Purchasing Power of the Peso (PPP)
The measure of how much the peso in the base period is worth in the current period.
PEPITO D. AMOYEN
Chief Statistical Specialist