Report on Inflation in Northern Mindanao for the Month of May 2022 (2018=100)

Reference Number: 

PSA-SR-2022-16

Release Date: 

Thursday, June 9, 2022

 

Northern Mindanao registers the second lowest inflation rate nationwide

Inflation rate in Northern Mindanao remained at 4.6 percent in May 2022, the same rate recorded in April 2022. This was lower than the national average and second lowest among all regions nationwide. Northern Mindanao and Central Visayas were the only regions with lower or unchanged inflation in May 2022. The inflation rate in the region in May 2021 was higher at 5.1 percent.  (Table A and Figure 1)

 

Table A. Year-on-Year Inflation Rates for All Items, Northern Mindanao:
May 2021, April 2022, and May 2022
(In percent, 2018=100)

By Commodity Group

Month-on-month, inflation was higher in May 2022 in the following commodity groups: food and non-alcoholic beverages at 4.0 percent; transport
at 16.4 percent; personal care, and miscellaneous goods and services at 2.3 percent; health at 2.1 percent; and recreation, sport, and culture at 2.0 percent.  (Table B)

On the other hand, slowdowns were observed in the inflation of the following commodity groups:

       a.    Housing, water, electricity, gas and other fuels at 4.5 percent;
       b.    Furnishings, household equipment, and routine household maintenance
              at 4.6 percent;
       c.    Clothing and footwear at 3.3 percent;
       d.    Information and communication at 2.3 percent; and
              Restaurants and accommodation services at 0.9 percent.

The rest of the commodity groups had unchanged inflation rates.

Table B. Inflation Rate by Commodity Group for All Income Households,
Northern Mindanao: May 2021, April 2022, and May 2022
(In percent, 2018=100)

 

Food inflation accelerated to 4.2 percent, from 4.1 percent in the previous month.
In May 2021, food inflation was higher at 6.1 percent. (Table C)

Among food commodity groups, the inflation rates of the following sub-commodities in May 2022 increased compared to April 2022a.    Vegetables, tubers, plantains, cooking bananas and pulses, 9.4 percent;

       a.    Vegetables, tubers, plantains, cooking bananas and pulses, 9.4 percent;
       b.    Sugar, confectionery and desserts, 7.2 percent;
       c.    Oils and fats, 4.2 percent;
       d.    Flour, bread and other bakery products, pasta products, and
              other cereals, 3.3 percent;
       e.    Ready-made food and other food products N.E.C., 2.9 percent; and
       f.     Fruits and nuts, 2.1 percent.

On the other hand, rice deflation slowed down from -2.3 percent in April 2022 to -1.4 percent in May 2022.  Corn inflation also slowed down to 10.5 percent from 15.8 percent in the preceding month. The rest of the food commodity groups either registered lower or unchanged inflation rates compared to April 2022.

Table C. Inflation Rate of Food Items for All Income Households,
Northern Mindanao:  May 2021, April 2022, and May 2022
(In percent, 2018=100)

Provinces and HUCs in Region X

All Items

Among provinces in the region, Bukidnon (5.2%), Camiguin (5.3%), and Misamis Oriental (4.2%) posted higher inflation rates in May 2022 compared to April 2022 while Lanao del Norte (2.7%) and Misamis Occidental (5.0%) registered lower inflation rates.  Camiguin posted the highest inflation rate, followed by Bukidnon and Misamis Occidental. (Table A)

On the other hand, the City of Iligan (5.2%) and the City of Cagayan de Oro (4.8%) had higher inflation rates in May 2022 than the previous month. 

Year-on-year, inflation rates in Bukidnon, City of Iligan, and City of Cagayan de Oro accelerated in May 2022. (Table A)

Food Items

Food inflation in Bukidnon (4.6%), Camiguin (5.8%), and Misamis Oriental (4.1%) accelerated in May 2022 compared to the preceding month. The rest of the provinces posted lower food inflation rates: Lanao del Norte at 0.4 percent and Misamis Occidental at 4.4 percent. (Table D)

Food inflation in the City of Iligan (6.1%) and the City of Cagayan de Oro (5.2%) accelerated in May 2022 compared to the previous month.

Year-on-year, only the province of Camiguin and the City of Iligan posted higher food inflation rates in May 2022.  All the rest registered lower food inflation rates.

 

Table D.  Inflation Rate of Food Items for All Income Households
by Province/HUC, Northern Mindanao: May 2021, April 2022, and May 2022
(In percent, 2018=100)

 

(Sgd.) VIRGIE A. GAYLA
(Chief Administrative Officer)
Officer-in-Charge

 

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