The inflation rate in Camiguin slowed down to 2.6 percent in January 2025

The inflation rate in Camiguin has a slower rate of increase of 2.6 percent in January 2025 from the 3.4 percent posted in December 2024. In January 2024, inflation rate was higher at 3.5 percent. The province's year-to-date inflation rate is at 2.6 percent. (See Figure 1)

Source: Survey of Retail Prices of Commodities for the Generation of CPI, PSA
 

In January 2025, inflation rate in Misamis Oriental moved at a faster pace at 5.3 percent from 4.5 percent in December 2024. The province of Misamis Occidental registered 3.0 percent, up by 0.1 percentage point from 2.9 percent in December 2024.

On the other hand, inflation rate in Bukidnon decelerated to 1.9 percent in January 2025 from 2.2 percent in December 2024. Meanwhile, inflation in Lanao del Norte remained at 0.6 percent. (See Figure 2)

Figure 2 presents the annual inflation rates of the provinces in Region X in January 2025.

The slowing down in the province’s inflation in January 2025 was primarily caused by the decline in the index of food and non-alcoholic beverages at 0.1 percent. Also contributing to the slower rate were the lower annual increases in the indices of clothing and footwear with 5.3 percent from 8.0 percent, health with 4.4 percent from 5.9 percent, transport with 21.0 percent from 22.3 percent, recreation, sport, and culture with 2.8 percent from 3.5 percent, education services with 6.3 percent from 7.0 percent, and furnishings, household equipment and routine household maintenance with 3.4 percent from 3.6 percent.

On the contrary, the following commodity groups posted faster rate of increases:

• Alcoholic beverages and tobacco, 7.1 percent;

• Restaurants and accommodation services, 7.3 percent; and

• Personal care, and miscellaneous goods and services, 2.5 percent.

Furthermore, slower rate of decline was posted in the index of housing, water, electricity, gas and other fuels with 0.1 percent in January 2025. Meanwhile, financial services recorded a zero percent inflation rate in January 2025 from a 11.1 percent decline in December 2024. On the other hand, information and communication (1.1%) maintained the same inflation rate as in December 2024. (See Table 1)

Table 1. Year-on-Year Inflation Rates by Commodity Group,
Camiguin (2018 = 100)

Source, Survey of Retail Prices of Commodities for the Generation of CPI PSA

The deflation of food in January 2025 was primarily brought about by the decline of heavily weighted rice at 4.1 percent. Declines were also registered in cereals and cereals products (3.0%), meat and other parts of slaughtered land animals (8.7%), and sugar, confectionery, and desserts (3.8%).

Moreover, slower rate of increases was noted in the following food items:

• Fish and other seafood, 1.3 percent

• Oils and fats, 7.9 percent;

• Fruits and nuts, 6.2 percent; and

• Ready-made food and other food products n.e.c., 4.5 percent.

On the other hand, faster rate of increases was registered in the following food groups of:

• Flour, bread and other bakery products, pasta products, and other cereals, 2.0 percent;

• Milk, other dairy products, and eggs, 4.0 percent; and

• Vegetables, tubers, cooking bananas and pulses, 9.4 percent. (See Table B and Table 1A)

Table B. Year-on-Year Inflation Rates by Food Group:
Camiguin (2018=100)

(SGD.) FRANCISCO C. GALAGAR, JR.
Chief Statistical Specialist

Technical Notes

This Special Release presents the results of the Survey of Retail Prices of Commodities and Services for the Generation of Consumer Price Index (CPI) conducted in January 2025. 

CPI

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 for their day-to-day consumption relative to a base year.

Uses of the CPI

As an indicator, the CPI is most widely used in the calculation of the inflation rate and purchasing power of the peso. It is a major statistical series used for economic analysis and as a government economic policy monitoring indicator.

The CPI is also used as a deflator to express value series in real terms, which is, measuring the change in actual volume of transactions by removing the effects of price changes. Another major importance of the CPI is its use as a basis to adjust wages in labor-management contracts and pensions and retirement benefits. The CPI also inputs wage adjustments through collective bargaining agreements.

Components of the CPI

a. Base Period - This is a reference date or simply a convenient benchmark to which a continuous series of index numbers can be related. Since the CPI measures the average changes in the retail prices of a fixed basket of goods, it is necessary to compare the movement in previous years back to a reference date at which the index is taken as equal to 100.

The present series uses 2018 as the base year. The year 2018 was chosen as the base year because it is the year when the Family Income and Expenditure Survey (FIES) was conducted. The FIES is the basis of the CPI weights.

b. Market Basket - Market basket refers to a sample of thousands of varieties of goods purchased for consumption and services availed by households in the country. It was selected to represent the composite price behavior of all goods and services purchased by the consumers.

c. Weighting System - The weighting system is a desirable system that considers the relevance of the components of the index. For the CPI, the weighting pattern uses the expenditures on various consumer items purchased by households as a proportion to total expenditures.

d. Geographic Coverage - CPI values are computed at the national, regional, and provincial levels, and for selected cities. A separate CPI for NCR is also computed.

e. Classification Standards - The 2012-based CPI series is the first in the series that used the 1999 United Nations Classification of the Individual Consumption According to Purpose (COICOP) in determining the commodity groupings of the items and services included in the market basket. The 2018-based CPI also follows the 2015 Philippine Standard Geographic Classification codes.

Inflation Rate

The inflation rate (IR) is the annual or monthly rate of change of the CPI in percent. It is interpreted in terms of the declining purchasing power of money.

r – revised

Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority