Philippine Standard time

Cagayan Valley Annual Regional Economic Situationer 2021

The prices of goods in the region rose faster in 2021 than in 2020, as the region experienced an average of 6.2 percent inflation in 2021, from only 2.5 percent in 2020. Among regions, Cagayan Valley and Bicol region recorded the highest inflation rate, surpassing the 3.9 percent nationwide average for the year.

Labor statistics are more optimistic, with the region recording an average employment rate of 94.4 percent for the year, growing from 91.2 percent in 2020. This is higher than the nationwide employment rate of 92.1 percent in 2021.


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