Sunday, February 23, 2014

Aklan’s 2013 Consumer Price Index Is 6 Percent Up

The average Consumer Price Index (CPI) in Aklan for 2013 registered at 136.9 index point. This is higher by 6.0 percent compared to 2012 figure of 130.9 index, according to the National Statistics Office-Aklan.

The month of December registered the highest index of 141.6, while the month of May has the lowest with 135.1 index points. In last year’s CPI, October has the highest index of 133.7, while the month of February has the lowest index at 128.0.

Likewise, the average inflation rate in Aklan increased by 1.0 percent from 2012 figure of 3.6 to 4.6 percent in 2013. The highest inflation rate was recorded in December with 6.5 percent, followed by February and March with 6.0 percent. The lowest inflation rate was apparent in October with 3.4 percent mark.

Among the commodity groups, Alcoholic Beverages and Tobacco had the highest inflation rate in 2013 posted at 26.4 percent. According to NSO, the implementation of RA 10351 or Sin Tax Law triggered the inflation rate to shoot up.

The next with higher inflation rate was Food and Non-Alcoholic Beverages with 5.3, HWEG and Other Fuels with 4.6 and Furnishings, Household Equipment and Routine Maintenance of the House with 3.9 percent. 

CPI is an indicator of the change in the average retail prices of fixed basket of goods and services purchased by the households relative to a base year.

It shows how much on the average, prices of goods have increased or decreased from a particular reference period. /MP

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