2023 – 161
Thursday, September 7, 2023
The headline inflation in Lucena City moved up to 3.2 percent in August 2023, from 2.5 percent in July 2023. The inflation in August 2023 was lower compared to August 2022 inflation which was recorded at 5.1 percent. The average inflation rate in Lucena City from January to August 2023 stood at 5.3 percent.
The uptrend in the inflation rate of Lucena City was primarily due to the higher inflation rate in food and non-alcoholic beverages at 4.6 percent in August 2023, from 2.7 percent in the previous month. This was followed by transport at 6.9 percent, from 1.7 percent. Education services was the third main source of acceleration of the inflation in August 2023 with 5.6 percent annual growth rate from 4.1 percent in July 2023. Also contributing to the uptrend in the overall inflation during the period were the higher annual increments in the indices of the following commodity groups:
a. Recreation, sport and culture at 3.3 percent, from 2.4 percent; and
b. Alcoholic beverages and tobacco at 5.5 percent, from 5.2 percent;
In contrast, lower annual increments were observed for the following commodity groups during the month:
a. Clothing and footwear at 2.2 percent, from 2.3 percent;
b. Housing, water, electricity, gas and other fuels at -2.6 percent, from -0.8 percent;
c. Health at 3.1 percent, from 3.6 percent;
d. Restaurants and accommodation services at 7.2 percent, from 7.6 percent; and
e. Personal care, and miscellaneous goods and services at 2.2 percent, from 2.7 percent.
Meanwhile, the following commodity groups retained their previous month’s inflation:
a. Furnishings, household equipment and routine household maintenance at 1.1 percent;
b. Information and communication at 0.0 percent; and
c. Financial services at 0.0 percent.
Inflation for food in Lucena City increased to 4.8 percent during the month, from 2.6 percent in July 2023. In August 2022, it stood at 2.4 percent.
The acceleration in food inflation was primarily due to the higher annual increment in the index of rice at 8.2 percent, from 0.8 percent in July 2023. This was followed by vegetables, tubers, plantains, cooking bananas and pulses at 37.8 percent, from 28.1 percent.
Likewise, the increase in the inflation rate during the month were observed in the following food groups:
a. Corn at -5.7 percent, from -8.1 percent;
b. Fish and other seafood at 0.3 percent, from -0.6 percent;
c. Milk, other dairy products and eggs at 7.7 percent, from 6.8 percent; and
d. Fruits and nuts at 8.3 percent, from 2.1 percent.
In contrast, the following food groups posted lower inflation rates during the month:
a. Flour, bread and other bakery products, pasta products, and other cereals at 2.5 percent, from 3.0 percent;
b. Meat and other parts of slaughtered land animals at -5.3 percent, from -4.6 percent.
c. Oils and fats at -7.4 percent, from -4.2 percent;
d. Sugar, confectionery and desserts at 14.9 percent, from 25.6 percent; and
e. Ready-made food and other food products not elsewhere classified at 4.6 percent, from 5.1 percent.
(SGD.) AIRENE A. PUCYUTAN
Provincial Statistics Officer