Misamis Oriental Summary Inflation Report March 2023 (2018=100)

Release Date :
Reference Number :
PSA-MISOR-SR-2023-06

Table A. Year-on-Year Inflation Rates, All Items in Percent (2018=100)

Table A

Inflation rate of the Philippines has declined by 1.0 percent from 8.6 percent in February 2023 to 7.6 percent in March 2023. Meanwhile, the inflation rate in Northern Mindanao was posted at 7.4 percent for the month of March which is 0.6 percent points lower than the previous month. Furthermore, the inflation rate in the province of Misamis Oriental increased from 8.2 percent of previous month to 8.3 percent in March 2023 with a posted increment of 0.1 percentage point.

Consumer Price Index

Misamis Oriental posted a Consumer Price Index (CPI) of 124.1 for March 2023. This indicates that since 2018, the prices of commodities in Misamis Oriental have increased by as much as 24.1 percent.

In a years period the highest increase in the prices in the province are observed in the Food and Non-Alcoholic Beverages items at 127.4 Prices for the said commodity group had increased approximately by 13.0 percent.

Table B. Monthly Consumer Price Index for All Income Households in Misamis Oriental, by Commodity Group
March 2022 and March 2023
(2018=100)
Table B

Figure 1

Inflation Rate

The Inflation rate in Misamis Oriental increased to 8.3 percent in March 2023 from 8.2 percent in February 2023. Increased were observed in the indices of Food and Non-Alcoholic Beverages at 13 percent; Alcoholic Beverages and Tobacco at 4.5 percent; Clothing and Footwear at 6.3 percent; Restaurants and Accommodation Services at 5.8 percent; and Personal care, and Miscellaneous Goods and Services at 8.3 percent.

However, as shown in Table C., the following indices decreased: Housing, Water, Electricity, Gas and Other Fuels 5.2 percent; Health 3.2 percent; Transport 2.3 percent; Information and Communication 2.3; and Recreation Sport and Culture 2.2 percent. On the other hand, the month-on-month inflation remained in the indices of Furnishings, Household Equipment and Routine Household Maintenance at 4.3 percent; Financial Services at 0.0 percent; and Education Services at 1.8 percent.

Table C. Inflation Rate by Commodity Group for
All Income Households: Misamis Oriental
In Percent (2018=100)
Table C

Purchasing Power of Peso

The strength of the Philippine Peso in the current month in Misamis Oriental was observed at 81 centavos and the same Purchasing Power of Peso (PPP) was posted in the province of Misamis Occidental. This means that your 100 pesos in 2018 is only worth 81 pesos in the current month.

The highest PPP recorded among the provinces in Northern Mindanao was observed in the province of Lanao Del Norte at 84 centavos. Camiguin posted the lowest PPP at 80 centavos among other provinces in the region. While Iligan City and Cagayan de Oro City’s PPP is observed at 83 centavos.

(SGD.)MARIA LIZA M. BIGORNIA
(Chief Statistical Specialist)
Officer-In-Charge
Misamis Oriental Provincial Statistical Office
Regional Statistical Services Office 10
APS/EDA/NAG/CBD

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