The Consumer Price Index (CPI) in Misamis Occidental for the month of January 2023 increased at 123.6 from 120.1 in the month of December 2022. This implies that the same basket of goods and services worth 100 pesos in 2018 has increased by 23.6 percent in January 2023. 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 year. In comparison to the CPI recorded in the months of December 2021 and January 2022, it has increased from 111.4 and 114.1 to 120.1 and 123.6 in December 2022 and January 2023 respectively.

(see Figure 1)

Among the commodity groups, Alcoholic Beverages and Tobacco posted the highest CPI in January 2023 at 159.6, followed by Financial Services at 146.0 and Transport at 140.1. On the other hand, Information and Communication at 110.7, Education Services at 105.1 and Recreation, Sport, and Culture at 103.9 were the bottom three commodity groups with the lowest CPI recorded in the month of January 2023. (see Figure 2)

January 2023 Inflation Rate (IR) in the Province Rose by 0.5

Provincial inflation in January 2023 rose to 8.3 from 7.8 percent in December 2022. This has been the highest recorded inflation ever. On the other hand, the year-on-year provincial inflation increased from 5.6 percent in January 2022.

(Figure 3)

Purchasing Power of Peso (PPP)

The Purchasing Power of Peso (PPP) shows the real value of peso relative to the base period. The PPP in Misamis Occidental in January 2023 dropped to 0.81 from 0.83 in December 2022 and is lower by 0.07 compared to 0.88 last January 2022. This means that a consumer’s PhP100.00 in 2018 can only purchase PhP81.00 worth of goods and services in January 2023. (Figure 4)

Prepared by:

(SGD) MARK LESTHER P. PATIC

Statistical Analyst (COSW)

Approved by:

(SGD) JULIETA M. NACARIO

Supervising Statistical Specialist

Officer-In-Charge

PSA – Misamis Occidental

(SGD) RJDG