Table A. Year-on-Year Inflation Rates, All Items in Percent (2018=100)
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 percentage points lower than the previous month. Furthermore, the inflation rate in the province of Cagayan de Oro City decreased from 7.5 percent in the previous month to 6.5 percent in March 2023 with a posted decrease of 1.0 percent.
Consumer Price Index
City of Cagayan de Oro recorded a Consumer Price Index (CPI) of 121.2 for the month of March 2023. This indicates that since 2018, the prices of the commodities in City had increased by as much as 21.2 percent.
The highest increase in the prices in the province is observed in the Food and Non- Alcoholic Beverages items at 124.7. In a year’s period, prices for the said commodity group had increased approximately by 10.7 percent.
Table B. Monthly Consumer Price Index for All Income Households in Cagayan de Oro City, by Commodity Group
March 2022 and March 2023
(2018=100)
Inflation Rate
The Inflation rate in Cagayan de Oro City decreased to 6.5 percent in March 2023 from 7.5 percent in February 2023. Decrease in the indices were observed in the following commodity group, Food and Non-Alcoholic Beverages at 10.7 percent; Alcoholic Beverages and Tobacco at 4.0 percent; Clothing and Footwear at 2.7 percent; Housing, Water, Electricity, Gas, and Other Fuels at 4.6 percent; Furnishings, Household Equipment and Routine Household Maintenance at 1.8 percent, Health at 1.3 percent; Transport at 3.1 percent;.
However, as shown in Table C., the following indices increased: Information and Communication at 0.7 percent; and Recreation, Sport and Culture at 2.1 percent. Meanwhile, a steady pace was observed in the commodity groups of Education services at 2.4 percent; Restaurants and Accommodation Services at 8.7 percent; Financial Services at 0.0 percent and Personal Care, and Miscellaneous Goods and Services at 6.4 percent.
Table C. Inflation Rate by Commodity Group for
All Income Households: Cagayan de Oro City
In Percent (2018=100)
Purchasing Power of Peso
The strength of the Philippine Peso in the current month in Cagayan de Oro City was observed at 83 centavos and the same Purchasing Power of Peso (PPP) was posted in the City of Iligan. This means that your 100 pesos in 2018 is only worth 83 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 Misamis Oriental’s PPP was observed at 81 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
