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Friday, September 22, 2023

Camiguin’s inflation rate continued to rise at 5.3%

CAMIGUIN (PIA)–The annual inflation rate of Camiguin continues to rise at a faster rate of 5.3 percent in May 2022 based on the computed price indices at constant 2018 prices. 

It is higher by 0.7 percentage points compared to the registered rate of 4.6 percent in April 2022. Moreover, comparing it with the posted rate in May 2021, this registered rate is lower by 0.1 percentage points.

The annual inflation rate of Camiguin had the highest ranking among the five provinces in the region. The next highest inflation rate was posted by Bukidnon at 5.2 percent in May 2022, higher than the registered rate of 5.0 percent in April 2022. 

On the other hand, the lowest inflation rate in the region for the month of May 2022 was posted by Lanao del Norte at 2.7 percent, lower than its registered rate of 3.2 percent in April 2022.
The regional annual inflation rate retained its rate of 4.6 percent in April 2022 for the month of May 2022. Meanwhile, the national annual inflation rate in May 2022 posted a 0.5 percentage points increase from its registered 4.9 percent rate in April 2022.
The heavily weighted food and non-alcoholic beverages accelerated at a faster rate of 5.3 percent in May 2022 from its registered rate of 3.8 percent in April 2022. 

Faster rate of increases was also posted in the indices of alcoholic beverages and tobacco (5.5%), health (4.4%), recreation, sports and culture (4.2%), education services (18.1%), and personal care and miscellaneous goods and services (3.5%).

Moreover, slowdown was registered in the indices of clothing and footwear at 2.8 percent, housing, water, electricity, gas and other fuels at 2.7 percent, furnishings, household equipment and routine maintenance of the house at 2.9 percent, information and communication at 0.0 percent and restaurants and accommodation services at 1.0 percent. 

Meanwhile, financial services posted no increase in its May 2022 inflation rate.
The regional food index posted an increase of 1.7 percentage points from the 4.1 percent rate registered in April 2022. The increase was primarily supported by increases posted in the indices of fish and other seafood (18.5%), milk, other dairy products and eggs (25.9%), oils and fats (6.5%), fruits and nuts (21.8%), sugar, confectionery and desserts (8.0%), and ready-made foods and other food products not elsewhere classified (4.9%). 
A slower rate of increases was posted in the indices of flour, bread and other bakery products, pasta products and other cereals (0.8%), and meat and other parts of slaughtered animals (4.3%).
Also, declines were posted in the indices of rice at -3.2 percent and vegetables, tubers, cooking bananas and pulses at -3.0 percent. (PSA Camiguin/PIA-10/Camiguin)

Photo release:
Members of Cabuan Sustainable Livelihood Program Association (SLPA) from Barangay Cabuan, Guinsiliban, Camiguin, undergo Skills Enhancement Training to improve their income. (DSWD-10)

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