Misamis Oriental

Inflation in the Province of Misamis Oriental continued its upsurge as it increased to 8.9 percent in January 2023. Compared to the same month in year 2022, year-on-year inflation has more than doubled as January 2022 inflation rate was recorded at 3.9 percent.

The Inflation rate by commodity group for all income households of the province was shown in the table below (Table B). The highest inflation rate of commodities that affected the province’s inflation rate in January 2022 was Food and Non-Alcoholic Beverages with 13.3 percent, followed by Personal Care and Miscellaneous Goods and Services with 9.6 percent, then Housing, Water, Electricity, Gas and Other Fuels at 6.2 percent. Other commodities such as Clothing and Footwear; Furnishings, Household Equipment and Routine Household Maintenance, Restaurants and Accommodation Services; Alcoholic Beverages and Tobacco; Health and Transport also contributed to the province’s inflation rate with 5.7 percent, 5.6 percent, 5.5 percent, 4.9 percent and 4.5 percent respectively.

The Financial Services and Educational commodity group showed a non-movement in its inflation rate. (Table B)

Cagayan de Oro City

The Inflation rate in Cagayan de Oro City slowed down a bit to 8.0 percent in January 2023 from 8.2 percent in December 2022. Slow down were observed in the indices of Food and Non-Alcoholic Beverages at 12.4 percent; Housing, water, electricity, Gas and other Fuels at 5.2 percent; Furnishing, Household Equipment and Routine Household Maintenance at 2.6 percent; Health at 1.6 percent and Transport at 8.5 percent.

As shown in Table C. The indices of Restaurants and accommodation services increased by 11.8 percent in January 2023 from 10.9 percent in the previous month posted at 0.7 percent. Inflation rates increased in the indices of Alcoholic Beverages and Tobacco at 5.7 percent; Clothing and Footwear at 3.5 percent; Information and communication at 0.5 percent and Personal care and Miscellaneous Goods and Services. at 6.6 percent.

Meanwhile, the month-on-month inflation remained in the indices of Recreation, Sport and Culture at 1.5 percent; Education Services at 2.4 percent and Financial Services at 0.0 percent.