Consumer Price Index

Misamis Oriental posted a Consumer Price Index (CPI) of 123.9 for April 2023. This indicates that since 2018, the prices of commodities in Misamis Oriental have increased by as much as 23.9 percent point.

In a year’s period the highest increase in the prices in the province is observed in the Food and Non-Alcoholic Beverages items at 126.7 Prices for the said commodity group had increased approximately by 13.6 percent points.

Inflation Rate

The Inflation rate in Misamis Oriental decreased to 7.5 percent in April 2023 from 8.3 percent in March 2023. Increased were observed in the indices of Clothing and Footwear at 7.0 percent; Restaurants and Accommodation Services at 6.1 percent; and Personal Care, and Miscellaneous Goods and Services at 8.4 percent.

However, as shown in Table C., the following indices decreased: Food and Non-Alcoholic Beverages at 12 percent; Housing, Water, Electricity, Gas and Other Fuels at 4.4 percent; Health at 2.9 percent; and Transport at -0.3 percent. On the other hand, the month-on-month inflation remained in the indices of Alcoholic Beverages and Tobacco at 4.5 percent; Furnishings, Household Equipment and Routine Household Maintenance at 4.3 percent; Information and Communication at 2.3 percent; Recreation, Sport and Culture at 2.2 percent; Financial Services at 0 percent; and Education Services at 1.8 percent.

Purchasing Power of Peso

The strength of the Philippine Peso in the current month in Misamis Oriental was observed at 81 centavos. 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.