Date of Release: 07 July 2022
Reference No. 2022-SR12-004
The headline inflation in Bohol increased to 5.2 percent in June 2022, from 4.8 percent in May 2022. Inflation in June 2021 was lower at 1.6 percent. The average inflation for the first five months of the year stood at 4.3 percent. (Table A and Figure 1)
In comparison to national and regional figures, Bohol’s inflation rate (IR) in June is lower by 0.9 percentage points than the national IR and by 0.5 than the regional IR.
The increase in the province’s inflation was mainly brought about by the higher annual increase in the index for Food and Non-alcoholic Beverages at 3.2 percent; Housing, Water, Electricity, Gas, and Other Fuels, 9.2 percent; and Transport, 14.1 percent. Also contributing to the uptrend in the overall inflation during the period were the high annual increments in the indices of the following commodity:
- Alcoholic Beverages and Tobacco, 3.5 percent;
- Restaurants and Accommodation Services, 2.0 percent; and
- Housing, Water, Electricity, Gas and Other Fuels, 1.1 percent.
The commodity groups Non-alcoholic Beverages; Clothing and Footwear; Furnishings, Household Equipment and Routine Household Maintenance; Information and Communication; Recreation, Sports, and Culture; Education Services; Financial Services; and Personal Care, and Miscellaneous Goods and Services either retained their previous month’s inflation rates or had zero percent annual growths.
For food index, it decreased to 3.3 percent in June 2022, from 3.8 percent in the previous month. In June 2021, food index had -1.8 percent inflation rate.
Double-digit growth rates were observed in Oils and Fats index at 23.9 percent; and Sugar, Confectionery, and Desserts at 18.8 percent. The following food groups had higher annual increments during the month in comparison with the previous month:
- Meat and Other Parts of Slaughtered Land Animals, 1.3 percent;
- Milk, Other Dairy Products, and Eggs, 1.1;
- Vegetables, Tubers, Cooking Bananas and Pulses, -1.8; and
- Ready-Made Food and Other Food Products N.E.C., -0.8 percent.
On the other hand, Cereals and Cereal Products (which covers Rice; Corn; Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals); Fish and Other Seafood; and Fruits and Nuts had lower annual upticks during the month.
JESSAMYN ANNE C. ALCAZAREN (SGD.)
Chief Statistical Specialist