ARMM Consumer Price Index (As of June 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 179.5 as of June 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 Php179.5 as of June 2018. This is 6.7 percent higher than in June 2017 with CPI = 167.5 and 1.36 percent higher than in May 2018 with CPI = 177.1.
|All Items||179.5||167.5||177.1 r||167.1|
|Food and Non-Alcoholic Beverages||207.2||190.8||203.7 r||189.9|
|Alcoholic Beverages and Tobacco||234.1||201.5||228.9||200.6|
|Clothing and Footwear||141.9||135.8||141.2 r||135.7|
|Housing, Water, Electricity, Gas, and Other Fuels||137.2||133.1||135.4 r||133.4|
|Furnishing, Household Equipment and Routine Maintenance of the House||137.1||133.5||136.9 r||133.5|
|Recreation and Culture||139.4||135.7||138.7 r||135.6|
|Restaurant and Miscellaneous Goods and Services||155.4||146||154.7||145.8|
Commodities under the groups of Alcoholic Beverages and Tobacco and Food and Non-Alcoholic Beverages had the highest corresponding CPIs of 234.1 and 207.2 in May 2018, respectively. These two commodity groups have CPIs higher than the total average CPI of all items in the region.
On the other hand, Communication with CPI 102.1 have the lowest CPI during the same period.
The year-on-year headline inflation rate in ARMM is at 7.2 percent as of June 2018 (2006=100). This implies that the average price of basket of goods and services in ARMM increased by 7.2 percent between June 2017 and June 2018. Moreover, average price of basket of goods and services in the region increased by approximately 0.2 percent in June 2018 compared with the average price in the previous month.
Commodity groups of Alcoholic Beverages and Tobacco and Restaurant and Miscellaneous Goods and Services have shown the most volatile annual prices in June 2018 with the inflation rates of 16.2 percent and 6.4 percent, respectively. The Housing, Water, Electricity, Gas, and Other Fuels, and Transport have the most rapidly changing average prices between June 2018 and May 2018 with an increase of 106.7 percent and 100.0 percent, respectively.
|June 2018||June 2017|
|Food and Non-Alcoholic Beverages||8.6||4.5|
|Alcoholic Beverages and Tobacco||16.2||4|
|Clothing and Footwear||4.5||0.2|
|Housing, Water, Electricity, Gas, and Other Fuels||3.1||1.3|
|Furnishing, Household Equipment and Routine Maintenance of the House||2.7||0.6|
|Recreation and Culture||2.7||0.5|
|Restaurant and Miscellaneous Goods and Services||6.4||0|
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 4.8 percent in 2017 and has been decreasing at an average rate of 5.2 percent annually between 1997 and 2017.
The PPP in 2017 is 0.6. This implies that the Php1.0 in 2006, as the base year, values only Php 0.6 in 2017 and was worth Php 1.7 in 1997.