In Bohol, inflation rate (IR) continues its upward trend for the 6th consecutive month. It climbed to 8.7 percent in November 2022 from 8.4 percent in October 2022. This is again the peak of the trend since January 2019. Inflation rate in November 2021 was lower at 4.8 percent. The average inflation for the first 11 months of the year stood at 6.1 percent. (Table A and Figure 1)

In comparison to national and regional figures, Bohol’s IR in November is higher by 0.7 percentage points than the national IR and by 0.4 percentage points than the regional IR.

The increase in the province’s inflation was mainly brought about by the higher double-digit annual increase in the index for Housing, Water, Electricity, Gas and Other Fuels at 14.4 percent; Education Services at 20.0 percent; and Restaurants and Accommodation Services at 19.2 percent. Also contributing to the uptrend in the overall inflation during the period were the increments in the indices of the following commodities:

a. Furnishings, Household Equipment and Routine Household Maintenance at 4.9 percent;

b. Health at 2.9 percent;

c. Recreation, Sports, and Culture at 1.3 percent; and

d. Personal Care, Miscellaneous Goods and Services at 3.0 percent;

Commodity groups Alcoholic Beverages and Tobacco; Information and Communication; and Financial Services, either retained their previous month’s inflation rates or had zero percent annual growths.

Several commodities had lower growth rates. Food and Non-alcoholic Beverages went down to 7.1 from 7.4 percent, Clothing and Footwear down to 3.5 from 3.6 percent; and Transport down to 6.9 from 8.7 percent. 

For food index, it decreased to 7.3 percent from 7.6 percent in the previous month. In November 2021, food index had a 4.4 percent inflation rate.

Double-digit inflation rates were identified in Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals at 15.4 percent; Oils and Fats at 22.9 percent; and Vegetables, Tubers, Cooking Bananas, Pulses at 12.9 percent. The following food groups also had higher annual increments during the month in comparison with the previous month:

a. Corn from 8.1 to 9.6 percent;

b. Milk, Other Dairy Products, and Eggs from 7.3 to 9.3 percent;

c. Fruits and Nuts from -0.7 to 1.3 percent;

d. Ready-Made Food and Other Food Products N.E.C. from 3.4 to 3.8 percent; and

e. Non-alcoholic beverages from 3.9 to 4.3 percent.

Meat and Other Parts of Slaughtered Land Animals retained the previous month’s growth rate of 11.1 percent. On the other hand, Cereals lowered to -0.2 percent; Rice at -0.5 percent; Fish and Other Seafood from 6.6 to 5.9 percent; and Sugar, Confectionary, and Desserts at 56.7.