ARMM Consumer Price Index (As of February 2018)
Consumer Price Index
Survey of Retail Prices of Commodities conducted by the Philippine Statistics Authority (PSA) has generated a Consumer Price Index (CPI) of 175.6, as of February 2018 using 2006 as the base year. This implies that the cost of a basket of goods and services commonly purchased by a typical Filipino household in ARMM was at an average of Php175.6, as of February 2018. This is 6.4 percent higher than in February 2017 with CPI = 165.1 and 0.8 percent higher than in January 2018 with CPI = 174.2.
|Food and Non-Alcoholic Beverages||202.2||187.2||200.2||186.4|
|Alcoholic Beverages and Tobacco||222.9||195.3||213.0||194.4|
|Clothing and Footwear||139.7||134.8||139.0||134.6|
|Housing, Water, Electricity, Gas, and Other Fuels||135.1||132.9||136.5||132.2|
|Furnishing, Household Equipment and Routine Maintenance of the House||135.9||132.8||135.4||132.6|
|Recreation and Culture||137.5||134.8||137.2||134.7|
|Restaurant and Miscellaneous Goods and Services||150.8||145.1||149.6||144.7|
Commodities under the groups of Alcoholic Beverages and Tobacco and Food and Non-Alcoholic Beverages had the highest corresponding CPIs of 222.9 and 202.2 in February 2018 respectively. These two commodity groups had CPIs higher than the total average CPI of all items in the region.
The year-on-year headline inflation rate in ARMM was at 6.4 percent in February 2018 (2006=100). This implies that the average price of basket of goods and services in ARMM increased by 6.4 percent between February 2017 and February 2018. Moreover, average price of basket of goods and services in the region increased by approximately 0.8 percent in February 2018 compared to the average price in the previous month.
Commodity groups of Alcoholic Beverages and Tobacco and Food and Non-Alcoholic Beverages have shown the most volatile annual prices in February 2018 with the inflation rates of 14.1 percent and 8.0 percent respectively. The Transport had the most rapidly changing average price between February 2018 and January 2018 with an increase of 166.7 percent.
|February 2018||January 2018||February 2018||January 2018|
|Food and Non-Alcoholic Beverages||8.0||4.4||1.0||1.2|
|Alcoholic Beverages and Tobacco||14.1||5.6||4.6||2.9|
|Clothing and Footwear||3.5||1.1||0.5||1.1|
|Housing, Water, Electricity, Gas, and Other Fuels||1.7||4.3||-1.0||1.0|
|Furnishing, Household Equipment and Routine Maintenance of the House||2.3||1.1||0.4||0.5|
|Recreation and Culture||2.0||1.7||0.2||0.3|
|Restaurant and Miscellaneous Goods and Services||1.9||1.5||0.0||0.9|
Purchasing Power of Peso
Purchasing Power of Peso (PPP) is inversely related to inflation rate. Thus, as the inflation rate increases, PPP declines. In ARMM, PPP decreased by 4.84 percent in 2017 and has been decreasing at an average rate of 5.18 percent annually between 1997 and 2017.
The PPP in 2017 was 0.59. This implies that the Php1.00 in 2006, as the base year, values only Php 0.59 in 2017 and was worth Php 1.72 in 1997.