Philippines Inflation rate reached 6.1 percent in June 2022

The country’s inflation rate has increased from 5.4 percent in May 2022 to 6.1 percent in June 2022. This was the highest recorded inflation since December 2018. In the previous year of the same month, the inflation was lower at 3.7 percent. (Table A)

Table A. Year-on-Year Inflation Rates, All Items In Percent

(2018=100)

Northern Mindanao recorded 5.5 percent Inflation Rate in June 2022

The inflation rate in Northern Mindanao has increased from 4.6 percent in the previous month to 5.5 percent in June 2022. Current inflation rate is also higher than the 4.2 percent inflation rate in June 2021 (Table A)

Misamis Occidental's Inflation rate was recorded at 5.7 percent

The province’s inflation rate in June 2022 started an upward trend at 5.7 percent from 5.0 percent in the previous month. This is higher than the recorded rate in the previous year of the same month at 5.4 percent. This is also the highest inflation recorded from June 2021 to June 2022. (Table A and Figure 1)

The increase in the province’s inflation was attributed to the increase of all commodity groups except for Financial Services which retained its previous year’s inflation rate or had zero percent annual growth.

In comparison to the previous year’s prices, the biggest increase was observed in the index of Transportation at 20.20%, followed by Information and Communication (8.04%), Alcoholic Beverages and Tobacco (7.8%), Housing, Water, Electricity, Gas and Other Fuels (4.94%), and Food and Non-alcoholic Beverages (4.29%) in a month to month basis. (Figure 2)