SPECIAL RELEASE: Summary Inflation Report of Quezon Province Consumer Price Index (2018=100) August 2023

Reference Number: 

2023 – 160

Release Date: 

Thursday, September 7, 2023

The headline inflation in Quezon province increased to 2.9 percent in August 2023, from 2.2 percent in July 2023. The inflation in August 2023 was lower compared to August 2022 inflation which was recorded at 5.5 percent. The average inflation from January to August 2023 of Quezon province stood at 5.4 percent.
The acceleration in inflation in the pro¬vince was primarily influenced by the faster annual increase in food and non-alcoholic beverages at 4.4 percent in August 2023, from 3.0 percent in the previous month. This was followed by transport at 4.4 percent, from 0.7 percent. Education services was the third main source of acceleration of the inflation in August 2023 with 5.8 percent annual growth rate from 3.0 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 4.2 percent, from 1.7 percent;
b. Alcoholic beverages and tobacco at 6.9 percent, from 5.6 percent;
c. Restaurants and accommodation services at 4.7 percent, from 4.6 percent;
d. Furnishings, household equipment and routine household maintenance at 1.9 percent, from 1.7 percent; and
e. Clothing and footwear at 2.3 percent, from 2.2 percent.
On the contrary, the indices of housing, water, electricity, gas and other fuels; and personal care and miscellaneous goods and services exhibited a year-on-year decrease at -3.1 percent from -0.8 percent and 1.9 percent from 2.2 percent, respectively.
Meanwhile, the following commodity groups retained their previous month’s inflation:
a. Health at 5.1 percent;
b. Information and communication at 0.0 percent; and
c. Financial services at 0.0 percent.
Inflation for food in the province increased to 4.5 percent during the month, from 3.0 percent in July 2023. In August 2022, food inflation stood at 2.4 percent.
The acceleration in food inflation in August 2023 was primarily due to the higher annual increment in the index of rice at 5.7 percent, from 0.5 percent in July 2023. This was followed by vegetables, tubers, plantains, cooking bananas and pulses at 30.3 percent, from 23.8 percent, 
Higher inflation rates during the month were also noted in the indices of the following food items:
a. Corn at -3.8 percent, from -3.9 percent;
b. Fish and other seafood at 3.9 percent, from 1.8 percent;
c. Milk, other dairy products and eggs at 8.2 percent, from 6.9 percent; and
d. Fruits and nuts at -0.2 percent, from -2.4 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 3.5 percent, from 4.2 percent;
b. Meat and other parts of slaughtered land animals at -5.9 percent, from -4.7 percent.
c. Oils and fats at -7.7 percent, from -5.2 percent;
d. Sugar, confectionery and desserts at 13.1 percent, from 27.4 percent; and
e. Ready-made food and other food products not elsewhere classified at 3.8 percent, from 4.7 percent.
Provincial Statistics Officer
PSA Quezon