CALABARZON Summary Inflation Report Consumer Price Index (2018=100): January 2023
Release-Date
Reference-Number
2023-0400-SR03
Table A. Year-on-Year Inflation Rates in CALABARZON, All Items In Percent (2018=100) Area Jan 2022 Dec 2022 Jan 2023 Philippines 3.0 8.1 8.7 CALABARZON 2.4 7.1 8.5 Batangas 2.7 9.0 10.4 Cavite 2.2 6.4 8.8 Laguna 1.0 5.1 6.1 Quezon 2.4 7.4 8.0 Rizal 3.7 9.1 9.7 Lucena City 2.9 6.6 6.4 Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority *Year-on-year change of average CPI for January to February, 2023 vs. 2022 Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority The headline inflation in CALABARZON increased to 8.5 percent in January 2023, from 7.1 percent in December 2022. This is the highest inflation rate recorded since December 2008. Moreover, this is a 6.1-percent index point increase over the recorded inflation rate in the same month of 2022 at 2.4 percent. (Table A and Figure 1) Table B. Year-on-Year Changes of the Consumer Price Index in Percent in Region IVA (CALABARZON) by Commodity Group: Jan – Feb 2023 In Percent (2018=100) Commodity Group Dec 2022 Jan 2023 ALL ITEMS 7.1 8.5 Food and Non-Alcoholic Beverages 9.6 11.6 Alcoholic Beverages and Tobacco 11.2 11.7 Clothing and Footwear 3.4 4.0 Housing, Water, Electricity, Gas, and Other Fuels 5.7 8.7 Furnishing, Household Equipment and Routine Household Maintenance 4.3 4.4 Health 3.4 2.9 Transport 11.1 10.7 Information and Communication 0.2 0.2 Recreation, Sport and Culture 3.3 3.6 Education Services 1.3 1.3 Restaurants and Accommodation Services 5.3 5.6 Financial Services 0.0 0.0 Personal Care, and Miscellaneous Goods and Services 4.4 4.9 Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority The increase in the region’s inflation was mainly brought about by the higher annual increase in the index for food and non-alcoholic beverages at 11.6 percent; housing, water, electricity, gas and other fuels at 8.7 percent; and restaurants and accommodation services at 5.6 percent. Also contributing to the uptrend in the overall inflation during the period were the higher annual increments in the indices of the following: alcoholic beverages and tobacco at 11.7 percent; clothing and footwear at 4.0 percent; furnishing, household equipment and routine household maintenance at 4.4 percent; recreation, sport and culture at 3.6 percent; and personal care, and miscellaneous goods and services at 4.9 percent. Meanwhile, annual upticks slowed down as compared to their previous month’s inflation rates in the indices of health at 2.9 percent and transport at 10.7 percent. The rest of the commodity groups either retained their previous month’s inflation rates or had zero percent annual growths. (Table B) Table C. Year-on-Year Inflation Rates of Food Items in Region IVA (CALABARZON) (2018=100) Commodity Group Jan 2022 Dec 2022 Jan 2023 FOOD AND NON-ALCOHOLIC BEVERAGES -1.1 9.6 11.6 Food -1.4 10.0 12.1 Cereals and Cereal Products 1.8 5.7 5.8 Cereals 1.0 2.9 3.0 Rice 1.1 2.7 2.8 Corn -2.5 17.5 16.8 Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals 3.4 11.2 11.3 Meat and Other Parts of Slaughtered Land Animals -0.2 5.3 6.5 Fish and Other Seafood 2.0 5.7 6.6 Milk, Other Dairy Products, and Eggs 0.2 9.6 11.1 Oils and Fats 17.1 17.3 14.2 Fruits and Nuts -4.4 6.2 9.1 Vegetables, Tubers, Cooking Bananas and Pulses -20.9 38.5 51.3 Sugar, Confectionery and Desserts 3.5 35.3 34.8 Ready-Made Food and Other Food Products N.E.C. 3.0 9.1 8.0 Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority For food inflation, it increased by 2.1 percent index points in January 2023, with 12.1 percent inflation compared to its previous month’s record of 10.0 percent. In January 2022, food inflation recorded at -1.4 percent was lower compared to this year’s inflation. (Table C) The annual growth rate of the vegetables, tubers, plantains, cooking bananas and pulses index went up to 51.3 percent during the month, from 38.5 percent in the previous month. In addition, double-digit inflation was also recorded in the index of sugar, confectionery and desserts at 34.8 percent, oils and fats at 14.2 percent, and milk, other dairy products, and eggs at 11.1 percent. Moreover, food groups that exhibited higher annual increments during the month are the following: cereals and cereal products at 5.8 percent; meat and other parts of slaughtered land animals at 6.5 percent; fish and other seafood at 6.6 percent; milk, other dairy products, and eggs at 11.1 percent; fruits and nuts at 9.1 percent; and vegetables, tubers, cooking bananas and pulses at 51.3 percent. Meanwhile, food groups that registered deceleration are the following: oils and fats at 14.2 percent; sugar, confectionery and desserts at 34.8 percent; and ready-made food and other food products n.e.c. at 8.0 percent. Rice index went up to 2.8 percent inflation during the month while the corn index had lower annual uptick at 16.8 percent. (Table C) (sgd.) CHARITO C. ARMONIA Regional Director BFP/LOM/JAS
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