The Consumer Price Index (CPI) in Misamis Occidental for the month of February 2023 decreased at 123.2 from 123.6 in the month of Janaury 2023. This implies that the same basket of goods and services worth 100 pesos in 2018 has decreased by 23.2 percent in February 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 January 2022 and Febuary 2022, it has increased from 114.1 and 114.5 to 123.6 and 123.2 in January 2023 and Febuary 2023 respectively.

(Figure 1)

Among the commodity groups, Alcoholic Beverages and Tobacco posted the highest CPI in Febraury 2023 at 159.6, followed by Financial Services at 146.0 and Transport at 138.4. On the other hand, Information and Communication, Clothing and Footwear at 111.3, Education Services at 105.1 and Recreation, Sport, and Culture at 104.1 were the bottom three commodity groups with the lowest CPI recorded in the month of February 2023. (Figure 2)

February 2023 Inflation Rate (IR) in the Province Drop by 0.7

Provincial inflation in February 2023 drops by 7.6 from 8.3 percent in Janaury 2023. This is the first downward trend recorded since October 2022. On the other hand, the year-on-year provincial inflation increased from 4.7 percent in Februray 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 February 2023 remain the same with 0.81 but is lower by 0.07 compared to 0.87 last February 2022. This means that a consumer’s PhP100.00 in 2018 can only purchase PhP81.00 worth of goods and services in Februaury 2023. (Figure 4)

Prepared by:

(SGD) HERMAN JAY B. MAGSALAY III

INFORMATION SYTEMS ANALYST - I (COSW)

Approved by:

(SGD) JULIETA M. NACARIO

Supervising Statistical Specialist

Officer-In-Charge

PSA – Misamis Occidental