CALABARZON Summary Inflation Report Consumer Price Index (2018=100) | Philippine Statistics Authority CALABARZON

Release-Date

Monday, August 7, 2023

Reference-Number

2023-0400-SR12

Table A. Year-on-Year Inflation Rates in CALABARZON by Province and HUC, All Items In Percent (2018=100) Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority *Year-on-year change of average Consumer Price Index (CPI) for January to July 2023 vs. 2022 same period All provinces registered slower inflation rates in July 2023 from June 2023. The year-on-year change in the average CPI of the region for the first seven months of the year was 6.6 percent (refer to Table A). Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority The monthly headline inflation rate in CALABARZON has been decreasing this year, dropping from 8.5 percent in January to 4.7 percent in July. Additionally, this month’s inflation rate was lower than the recorded inflation rate in July 2022 at 5.9 percent (as shown in Figure 1). Table B. Year-on-Year Changes of the Consumer Price Index in Percent in Region IV-A (CALABARZON), by Commodity Group: June – July 2023 In Percent (2018=100) Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority The decrease in the region’s inflation was mainly brought about by the lower annual increase in prices of housing, electricity, gas and other fuels at 5.4 percent, compared to 7.2 percent in June. Also contributing to the downtrend in the overall inflation during the period were the lower annual increments in the indices of the following: Food and non-alcoholic beverages at 6.3 percent; Alcoholic beverages, and tobacco at 11.8 percent; Clothing and footwear at 4.5 percent; Furnishings, household equipment and routine household maintenance at 4.3 percent Health at 3.5 percent; and Restaurants and accommodation services at 7.2 percent. Furthermore, deflation (negative inflation) was recorded in transport index at -3.3 percent from -0.7 percent in June 2023. In contrast, higher annual increment was observed in the index of Information and communication at 0.2 percent from -0.1 percent in June 2023. The rest of the commodity groups retained their previous month’s inflation rates. (Table B) Table C. Year-on-Year Inflation Rates of Food Items in Region IVA (CALABARZON) (2018=100) Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority For food inflation, it decreased by 0.2 percent index point in July 2023, with 6.2 percent inflation compared to its previous month’s record of 6.4 percent but it is slightly higher than July 2022 inflation rate at 6.1 percent (Table C). The inflation rate of the meat and other parts of slaughtered land animals index went down to -2.0 percent during the month, from 0.2 percent in the previous month. Oils and fats index also recorded deflation during the month at -6.6 percent. Moreover, food groups that exhibited lower annual increments during the month are the following: cereals and cereal products at 6.5 percent; fish and other seafood at 5.6 percent; milk, other dairy products and eggs at 10.7 percent; fruits and nuts at 4.8 percent; sugar, confectionery and desserts at 23.0 percent; and ready-made food and other food products n.e.c. at 7.5 percent. Meanwhile, the inflation rate of the Vegetables, tubers, plantains, cooking bananas and pulses index went up to 24.7 percent during the month, from 10.6 percent in the previous month. Rice index accelerated at 4.1 percent during the month while the corn index had lower annual uptick at 13.4 percent (Table C). CHARITO C. ARMONIA Regional Director BFP/COB/JAS

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