SPECIAL RELEASE ON ANGELES CITY INFLATION RATE AS OF MAY 2022

Reference Number: 

2022-005

Release Date: 

Wednesday, June 8, 2022

Angeles City recorded 5.3 Inflation Rate
as of May 2022

INFLATION RATE

 

Angeles City rate (IR) of 5.3 percent inflation in May 2022. This was 0.4 percentage point higher compared to the inflation rate (IR) a month ago and a 0.9 percentage point higher compare in the same period last year which was registered at 4.4 percent. This high increase is due to the effect of high prices of Food Items and oil fuels this year..

 

PURCHASING POWER OF PESO

 

The Purchasing Power of Peso (PPP) in Angeles City for the month of May 2022 is 0.87. It was lowered compared to 0.92 in May 2021. From May 2021 to June 2021 PPP is equal to 0.92 and decreased to 0.90 from August 2021 to October 2021. PPP implies that 100 pesos in 2018 (base year) is now worth only 89 pesos in December 2021. December 2021 PPP retained from January to March 2022 and lowered down on April 2022 to 0.88, but it implies that 100 pesos in 2018 (base year) is now worth only 87 pesos in May 2022.

 

CONSUMER PRICE INDEX:

 

 

Among commodity groups, price index for Alcoholic Beverages and Tobacco shows an increased from 1160.6 in April 2022 to 162.9 in May 2022 followed by Transport which shows an increased from 124.2 in April 2022 to 126.1 in May 2022. Some commodity group price index only shows a slight increase like Health, Food and Non-Alcoholic Beverages, Housing, Water, Electricity, Gas, and Other Fuels, Furnishing, Household Equipment and Routine Household Maintenance, Recreation, Sport and Culture and Personal Care, and Miscellaneous Goods and Services.

 

On the other hand, other commodity group price index like Clothing and Footwear, Information and Communication, Education Services and Financial Services, retained its previous month rate. For All Items price index, it only shows a 0.7 increase compared last month.

 

CONCEPTS AND DEFINITIONS

 

Base Year - it identifies the base period with which the index relates. It is a period of time chosen as reference on which a price index is computed. The index for the base year is 100.

Consumer Price Index - a statistical measure of the change in average retail prices of a fixed basket of goods and services bought by a specific group of consumers in  given area in a given period of time.

 

Inflation Rate - the annual rate of change or the year-on-year change of the CPI. Inflation is interpreted in terms of declining purchasing power of money.

 

Market Basket - the total number of goods and services in constant amounts and qualities which are samples of the goods and services available in the market and included in the construction of the index. CPI market basket was selected to represent the composite price behavior of all goods and services purchased by consumers.

 

Percent Change - the percent point change expressed as percent of the index of the earliest date.

Purchasing Power of Peso (PPP) - a measure of the volume of goods and services which the currency can buy at any given period relative to that which it could
purchase during the base year. It is computed as the reciprocal of the CPI for the period under review multiplied by 100.

 

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