The price of a basket of goods in November 2020 is higher than its price in 2012 by 28.9 percent
The Consumer Price Index (CPI) in Northern Mindanao for the month of November 2020 registered at 128.9 which implies that the price of a basket of goods in November 2020 was 28.9 percent higher than its price in 2012. The CPI is an indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by households relative to a base. (Figure 1)
Among the commodity groups, Alcoholic Beverages and Tobacco posted the highest CPI in November 2020 at 242.8, followed by Housing, Water, Electricity, Gas, and Other Fuels at 143.5, and Health at 134.6. On the other hand, Transport at 115.1, Recreation and Culture at 114.1, and Communication at 106.5 were the three commodity groups with the lowest CPI recorded in the month of November 2020. (See Figure 2)
Misamis Occidental posted the highest inflation rate of 3.9 percent year-on-year
In terms of inflation rate in November 2020, Misamis Occidental registered the highest inflation rate of 3.9 percent. Bukidnon, on the other hand, posted the lowest inflation rate of 1.8 percent.
All provinces registered higher inflation rates in November 2020 as compared to the same month a year ago. This means that, in all provinces of Northern Mindanao, prices in November 2020 increased at a faster rate than prices in November 2019. (Figure 4)