CAMIGUIN (PIA)–The sustained uptrend behavior of the annual inflation rate was observed in the Province of Camiguin as the June 2022 figure registered a 6.4 percent increase.
It accelerated by 1.1 percentage points compared with the posted rate of 5.3 percent in May 2022. Further, it is much higher by 1.7 percentage points compared with the annual inflation rate registered in June 2021.
Camiguin remained the province with the highest annual inflation rate among the five provinces in the region. The next highest inflation rate was posted by Misamis Occidental at 5.7 percent in June 2022, higher than the registered rate of 5.0 percent in May 2022.
Meanwhile, Lanao del Norte continued to register the lowest inflation rate in the region for the month of June 2022 at 3.1 percent, higher than its registered rate of 2.7 percent in May 2022.
The regional annual inflation rate also accelerated at a rate of 5.5 percent in June 2022, higher than the posted rate of 4.6 percent in May 2022 by 0.9 percentage points. Moreover, the national annual inflation rate in June 2022 also posted an increase of 0.7 percentage points from its registered 4.6 percent rate in May 2022.
The heavily weighted food and non-alcoholic beverages accelerated at a much faster rate of 7.3 percent in June 2022 from its registered rate of 5.7 percent in May 2022. Accelerated rates were also posted in the indices of alcoholic beverages and tobacco (7.7%), clothing and footwear (3.1%), furnishings, household equipment and routine maintenance of the house (3.3%), transport (17.1%), recreation, sports and culture (4.8%), restaurant and accommodation services (4.1%), and personal care and miscellaneous goods and services (3.7%).
On the other hand, only heath registered a slowdown at a slower rate of 3.4 percent in June 2022. Meanwhile, the same rates as the previous month were posted in the indices of housing, water, electricity, gas and other fuels at 2.7 percent and education services at 18.1 percent. Meanwhile, information and communication and financial services posted no increase in its June 2022 inflation rates.
The provincial food index posted an increase of 1.7 percentage points from the 5.8 percent rate registered in May 2022. Supporting this increase were the faster rate of increments posted in the indices of flour, bread and other bakery products, pasta products and other cereals (1.9%), meat and other parts of slaughtered animals (8.1%), oils and fats (8.1%), fruits and nuts (23.1%), vegetables, tubers, cooking bananas and pulses (1.3%), sugar, confectionery and desserts (10.7%), and ready-made foods and other food products not elsewhere classified (5.2%).
Moreover, a slower rate of increase was posted in the index of fish and other seafood (18.1%). Furthermore, a slower rate of decline was posted in the index of rice at -1.8 percent. (PIA Camiguin/PIA-10/Camiguin)
