Sunday, January 25, 2015

Aklan’s Consumer 2014 Price Index Increases 5.5 percent

Aklan’s Consumer 2014 Price 
Index Increases 5.5 percent

The average Consumer Price Index (CPI) in Aklan for 2014 registered at 142.4 index point or higher by 5.5 percent compared to the 2013 figure of 136.9 index, according to the Philippine Statistics Authority-Aklan 
The month of July registered the highest index of 144.6, while the month of March has the lowest with 140.8 index points. In last year’s CPI, December has the highest index of 141.6, while the month of May has the lowest index at 135.1

On the other hand, the average inflation rate in Aklan decreased by 0.6 percent from the 2013 figure of 4.6 to 4.0 percent in 2014. The highest inflation rate was recorded in the month of July with 5.7 percent, followed by June with 5.3 and January with 5.2 percent mark. The lowest inflation rate was apparent in December with -0.1 percent mark.

Among the commodity groups, food and non-alcoholic beverages had the highest inflation rate in 2014 posted at 6.5 percent. This is followed by alcoholic beverages and tobacco with 5.2, health with 2.3, HWEG and other fuels with 2.2, furnishings, household equipment and routine maintenance of the house with 1.9, and restaurants and miscellaneous goods and gervices with 1.2 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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