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Consumer Price Index (CPI) is defined as an indicator to the change in the average retail prices of a fixed basket of goods and services commonly purchased by households relative to a base year.
Inflation rate is defined as the annual rate of change or year on year change in the CPI.
Purchasing Power of Peso (PPP) - is a measure of the real value of peso in a giver period.
Market Basket is a term used to refer to a sample of goods and services that are commonly purchased and bought by an average Filipino household.
Retail Price is the actual price at which retailers sell a commodity on spot or earliest delivery, usually in small quantities for consumption and not for resale.
Index number is a device used to compare relative movement in the magnitude of a variable or group of distinct but relative variables between two or more points in time. It also shows the relative differences in the magnitude of a variable obtained at the same period of time in different areas.
The index number is expressed in percentage form and its unit of measure is percentage point.
Percent change is the percent point change expressed as percent of index in the earliest date.
Camarines Norte’s inflation for the month of July 2023 is recorded at 5.7 percent, notably
higher than the 4.4 percent posted in the same period a year ago. However, this month’s inflation
is lower by 1.0 percent than the 6.7 percent recorded in June 2023.
The year-on-year situation is registered at 5.71 percent in all items index as an effect of the
movement in prices in most commodities and service groups in July 2023 compared to the same
period last year. Most of the following commodity groups reflected an increase: Restaurant and
Accommodation Services with 23.0 percent change (127.3 to 155.6); Alcoholic Beverages and
Tobacco with 10.5 percent change (168.8 to 186.5); Recreation, Sport, and Culture with 7.8
percent change (111.9 to 120.6); Furnishings Household Equipment and Routine Maintenance of
the House with 6.7 percent change (112.9 to 120.5); Food and Non-alcoholic Beverages with 5.8
percent change (110.1 to 116.5); Personal Care, and Miscellaneous Goods and Services with 5.2
percent change (110.3 to 116.0); Clothing and Footwear with 4.4 percent change (107.9 to 112.6);
Health with 3.3 percent change (121.4 to 125.4); Information and Communication with 1.2 percent
change (100.4 to 101.6); Education Services with 0.4 percent change (109.0 to 109.4); and
Housing, Water, Electricity, Gas, and Other Fuels with 0.3 percent change (115.2 to 115.6). On
the contrary, a decrease was recorded in the price index of Transport with 1.6 percent change
(154.6 to 152.1). Meanwhile, the price index of Financial Services remained at 146.0.
MARIA DULCE C. PADAYAO
Chief Statistical Specialist
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