welcomes 2022 with 5.2% inflation rate
February 28, 2022
TACLOBAN CITY –
Eastern Visayas welcomed 2022 with 5.2 percent Inflation Rate (IR)
in January. This IR is 1.0 percentage point higher compared with the
4.2 percent IR in December 2021. This January 2022 IR nearly doubled
the recorded 2.9 percent IR in January 2021.
In comparison with the
national average IR, the regional IR is higher by 2.2 percentage
points than the 3.0 percent national IR in January 2022.
Among the provinces, Leyte
posted the highest IR at 6.2 percent in January 2022. Southern
Leyte’s IR came next at 5.7 percent, then Eastern Samar at 5.2
percent. The lowest IR was noted in Samar at 4.1 percent. All
provinces exhibited higher IRs in January 2022 compared with their
figures in December 2021. Southern Leyte’s IR more than doubled,
from 2.8 percent in December 2021 to 5.7 percent in January 2022.
This is the biggest increase in IR among the provinces in the region
at 2.9 percentage points. The IR in Biliran posted at 4.6 percent in
January 2022 is 2.0 percentage points higher than its 2.6 percent IR
in December 2021.
Leyte and Northern Samar
both recorded 1.2 percentage points increase, pushing their January
2022 IRs to 6.2 percent and 4.2 percent, respectively. IR in Eastern
Samar picked up by 0.5 percentage point, registering 5.2 percent IR
in January 2022. Samar’s IR inched up by 0.1 percentage point in
January 2022, settling at 4.1 percent. Meanwhile, IR for Tacloban
City, the lone Highly Uranized City (HUC) in the region, was
recorded at 4.4 percent in January 2022, 0.8 percentage point higher
than its 3.6 percent IR in December 2021.
In January 2022, only the
commodity groups of food and non-alcoholic beverages, transport; and
housing, water, electricity, gas, and other fuels registered IRs
higher than their previous month’s levels by 2.3 percentage points,
0.2 percentage point, and 0.2 percentage point, respectively. All
other commodity groups have either lower or retained their December
The financial services
commodity group maintained its December 2021 IR at 47.0 percent,
registering the highest IR among commodity groups in January 2022.
This was followed by transport commodity group (7.4%); food and
non-alcoholic beverages commodity group (7.2%); and housing, water,
electricity, gas, and other fuels commodity groups (5.7%). All the
other commodity groups have IRs lower than the IR for all items
recorded at 5.2 percent.
The heavily weighted food
and non-alcoholic beverages commodity group registered the biggest
increase in IR with 2.3 percentage points, from 4.9 percent in
December 2021 to 7.2 percent in January 2022. Higher IRs were noted
in majority of the items under this commodity group. Fish and other
seafood index registered the highest increase of 4.7 percentage
points, posting an IR of 14.9 percent in January 2022 from 10.2
percent in December 2021. Meat and other parts of slaughtered land
animals index likewise posted higher double-digit IR in January 2022
at 17.3 percent from 12.7 percent in December 2021. Prices of corn
picked up by 0.6 percent in January 2022 after registering 4.0
percent deflation in December 2021.
The indices of vegetables,
tubers, cooking bananas and pulses (4.1%); non-alcoholic beverages
(0.5%); and flour, bread and other bakery products, pasta products,
and other cereals (0.5%) likewise registered annual price hikes
during the month in review after registering deflations in December
2021. The rest of the items under this commodity group recorded
increases in IRs ranging from 0.2 percent to 0.7 percent. Meanwhile,
IR for fruits and nuts index fell to 8.6 percent in January 2022
from its double-digit IR of 10.4 percent a month ago. Sugar,
confectionery, and desserts index retained its previous month’s IR
at 1.1 percent.
The IRs for transport
commodity group and housing, water, electricity, gas, and other
fuels commodity group both inched up by 0.2 percentage point
registering 7.4 percent and 5.7 percent, respectively, in January
On the other hand, IRs for
the commodity groups of clothing and footwear; information and
communication; and furnishings, household equipment, and routine
maintenance of the house managed to shed off 0.2 percentage point
from their IRs in December 2021, settling at 1.2 percent, 0.6
percent, and 0.4 percent, respectively, during the month in review.
The IRs for restaurants
and accommodation services commodity group (1.0%); personal care and
miscellaneous goods and services commodity group (0.5%); and
recreation, sport, and culture commodity group (0.5%) all eased by
0.1 percentage point in January 2022.
Meanwhile, the commodity
groups of financial services; alcoholic beverages and tobacco; and
health retained their previous month’s IRs at 47.0 percent, 2.5
percent, and 0.9 percent, respectively. Education services
registered zero IR during the month in review.
The Purchasing Power of
Peso (PPP) of the region weakened to P0.89 in January 2022 from
P0.91 in December 2021. This PPP implies that the goods and services
worth P89.00 in 2018 is now worth P100.00 in January 2022.
Compared with their levels
in December 2021, PPP in Biliran and Southern Leyte both weakened by
P0.03. PPP in Eastern Samar and Samar reduced by P0.02, while PPP in
Leyte and Northern Samar diminished by P0.01. Southern Leyte
recorded the strongest PPP at P0.91, while Samar posted the weakest
PPP during the reference month at P0.87.
The PPP in Tacloban City
was pegged at 0.89 in January 2022. This figure is P0.02 lower
compared with its P0.91 PPP in December 2021.
Note: The Philippine Statistics Authority (PSA) has rebased
the Consumer Price Index (CPI) for all income households to base
year 2018, from base year 2012. The methodology of rebasing the CPI
to base year 2018 was approved by PSA Board Resolution No. 15,
Series of 2021. Starting January 2022 (reference month), PSA will
release the 2018-based CPI series for the region, provinces, and
Highly Urbanized Cities (HUCs).