The year-on-year headline inflation rate in Lanao del Norte decreased to 4.1 percent in April 2019, from 6.0 percent in the same period last year. April 2019 inflation, however, rose up, showing an upward trend from a series of decreases in the previous quarter. March 2019 inflation rate was posted at 3.7%.
The slowing down of the year-on-year headline inflation rate in the month of April
2019 was brought by reduced prices of Food and Non-Alcoholic Beverages; Furnishing, Household Equipment and Routine Maintenance of the House; Transport; Communication; and Restaurant and Miscellaneous Goods and Services indices.
The year-on-year headline inflation rate for Region X was 4.3 percent for the month of April 2019.
CPI AND PURCHASING POWER OF PESO
Consumer Price Index slightly down
Month-on-month, the Consumer Price Index in Lanao del Norte went up to 124.8 in the month of April 2019, from 124.3 in the month of March 2019. This implies that one needs the amount of P124.80 in April 2019 to purchase the same volume of goods and services worth P100.00 in 2012 in Lanao del Norte.
Purchasing Power of Peso maintained
The Purchasing Power of Peso (PPP) was maintained at P0.80 in the month of April 2019, the same value as it was in the month of March 2019. This indicates that a peso in 2012 is now worth 80 centavos in April 2019 in Lanao del Norte.
MONTH-ON-MONTH CPI AND INFLATION RATES
Lanao del Norte’s month-on-month inflation grew
The ALL ITEMS month-on-month inflation rate in the province of Lanao del Norte grew to 1.0 percent in the month of April 2019, from a fixed 0.0 percent in the month of March 2019. This was mainly attributed to the upward movements of consumer prices of Food and Non-Alcoholic Beverages; Alcoholic Beverages & Tobacco; Housing, Water, Electricity, Gas & Other Fuels; Furnishings, Household Equipment
& Routine Maintenance of the House; Transport; Communication; and Restaurant & Miscellaneous Goods & Services indices. The rest of the commodity groups were either flat or lower compared to their last month’s inflation rate. The following are the movements on different commodity groups on a monthly basis:
Food and Non-Alcoholic Beverages rose
• The Food and Non-alcoholic Beverages index month-on-month inflation rate rose to 0.6 percent in the month of April 2019, from -0.5 percent in the month of March 2019. The rise in the index was due to higher prices of Food products particularly Bread and Cereals such as Rice; Fish; Vegetables; Sugar, Jam, Honey, Chocolate and Confectionery; and Food Products not elsewhere classified.
Alcoholic Beverages and Tobacco increased
• The Alcoholic Beverages and Tobacco month-on-month inflation rate increased in the month of April 2019, to 1.1 percent from a flat 0.0 percent in the month of March 2019. The increase was due to elevated prices of Tobacco.
Clothing and Footwear levelled-off
• Clothing and Footwear month-on-month inflation rate leveled-off, registering 0.0 percent in the month of April 209, from 0.2 percent in the previous month of March 2019. The leveling-off in the inflation rate was caused by fixed prices of Footwear in April 2019 in comparison to the previous month.
Housing, Water, Electricity, Gas & Other Fuels surged
• The Housing, Water, Electricity, Gas and Other Fuels month-on- month inflation rate surged to 1.7 percent in the month of April 2019 from 0.1 percent in the month of March. The surge in the index was primarily attributed to the upswing prices of Actual Rentals for Housing; and Electricity, Gas and Other Fuels in April 2019 as compared to last month.
Furnishings, Household Equipment and Routine Maintenance of the
House soared
• The month-on-month inflation rate in Furnishings, Household
Equipment and Routine Maintenance of the House soared, revealing
0.1 percent in April 2019, from a smooth 0.0 percent in March 2019. This was triggered by higher prices of Household Textiles; and Goods and Services for Routine Household Maintenance in April 2019 relative to the previous month.
Health index remained flat
• The month-on-month inflation rate of Health index remained fixed at
0.0 percent in April 2019, from a flat 0.0 percent in March 2019. This was due to the smooth prices of Medical Products, Appliances and Equipment; Out-patient Services; and Hospital Services in April 2019.
Transport index fuelled
• Transport index month-on-month inflation rate fuelled, posting a 3.6 percent inflation in April 2019, from 3.4 percent in the previous month. This growth was triggered by raised prices of Transport Services in April 2019, as compared to the past month.
Communication index heightened
• The Communication index month-on-month inflation rate heightened, scoring 0.4 percent in April 2019, from 0.0 percent in the month of March 2019. This was ascribed to the heightened prices of Telephone and Telefax Services in April 2019 in contrast to the previous month.
Recreation and Culture index unchanged
• The Recreation and Culture commodity group’s month-on-month inflation rate remained unchanged, exposing 0.0 percent in the month of April 2019, the same rate as it was in the month of March 2019. This was due to the uniform prices of Audio-visual, Photographic and Information Processing Equipment; Other Recreational Items and Equipment, Gardens and Pets; Recreational and Cultural Services; and Newspapers, Books and Stationery in April 2019 relative to the previous month.
Education index unmoved
• Education index inflation rate month-on-month steadied to 0 percent in April 2019, the same stride as it was in the month of March 2019. All sub-indices such as Pre-primary and Primary Education; Secondary Education; and Tertiary Education showed steady prices in April 2019 as in the previous month.
Restaurant and Miscellaneous Goods and Services escalated
• Restaurant and Miscellaneous Goods and Services index month-on- month inflation rate escalated to 0.1 percent in April 2019, from 0.0 percent in the month of March 2019. This was mainly due to the upswing prices of Personal Care in April 2019 as compared to the previous month.
