Bohol

The headline inflation in Bohol increased to 8.0 percent in August 2022, from 7.6 percent in July 2022. This is the highest so far since January 2019. Inflation in August 2021 was lower at 2.2 percent. The average inflation for the first eight months of the year stood at 5.2 percent. (Table A and Figure 1)

In comparison to national and regional figures, Bohol’s inflation rate (IR) in August is higher by 1.7 percentage points than the national IR and by 0.6 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 7.5 percent and Restaurants and Accommodation Services at 13.1 percent. Also contributing to the uptrend in the overall inflation during the period were the increments in the indices of the following commodity:

1. Housing, Water, Electricity, Gas, and Other Fuels at 12.3; and

2. Education Services at 1.3 percent.

The commodity groups Health; Information and Communication; Financial Services; and Personal Care and Miscellaneous Goods and Services either retained their previous month’s inflation rates or had zero percent annual growths.

On the other hand, Alcoholic Beverages and Tobacco; Clothing and Footwear; Furnishings, Household Equipment and Routine Household Maintenance; Transport; and Recreation, Sports and Culture had lower annual upticks during the month.

For food index, it increased to 7.7 percent in August 2022, from 6.0 percent in the previous month. In August 2021, food index had 0.8 percent inflation rate.

Double-digit growth rates were observed in Sugar, Confectionery, and Desserts at 51.3 percent; Oils and Fats at 32.4; Fruits and Nuts at 11.2; and Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals at 10.3 percent. All food groups had higher annual increments during the month in comparison with the previous month except for:

1. Vegetables, tubers, plantains, cooking bananas and pulses that decreased from -0.5 percent to -1.7 percent; and

2. Ready-made food and other food products n.e.c. that retained its inflation rate of 1.5 percent.