Special Release: Batangas Province's Summary Inflation Report for December 2022
Release-Date
Reference-Number
2023-001
Batangas headline inflation decreased to 9.0 percent in December 2022, from 9.2 percent in November 2022. In December 2021, inflation rate was observed at 3.6 percent. The lower inflation in December 2022 than in November 2022 was primarily brought about by the slow year-on-year growth rate in the index of housing, water, electricity, gas and other fuels at 11.7 percent from 12.7 percent in November 2022. Also contributing to the downtrend in the overall inflation in December 2022 was the lower annual decrease in the index of furnishings, household equipment and routine household maintenance at 5.0 percent from 5.7 percent in November 2022. Came third was information and communication with inflation rate of 0.1 in December 2022, from 0.6 percent inflation in the previous month. Other commodity groups that recorded higher year-on-year increments in December 2022 were the following: a. Personal care and miscellaneous goods and services, 2.9 percent b. Clothing and Footwear, 6.2 percent c. Alcoholic Beverages and Tobacco, 10.6 percent On the other hand, higher annual increase were observed in the indices of food and non- alcoholic beverages at 9.0 percent, health at 2.6 percent, transport at 18.4 percent, and restaurant and accommodation services at 7.9 percent. Meanwhile, for recreation, sport and culture at 2.5 percent, and education services at 2.6 retained its previous month’s annual rates. The financial services index retained its previous month’s annual rate at zero percent. Food inflation at the province remained at their previous month’s rates a 9.5 percent. The downtick in the food inflation was primarily influenced by the lower annual growths in the meat and other parts of slaughtered land animals at 5.7 percent. Lower annual growth rates were also seen in the following food groups: a. Rice, 2.5 percent b. Flour, Bread and other bakery products, pasta products, and other cereals, 7.2 percent c. Oils and fats, 12.1 percent d. Ready-made food and other food products N.E.C., 4.7 percent e. Cereals, 2.6 percent On the contrary, faster annual growth rates were observed in the indices of vegetables, tubers, plantains, cooking bananas and pulses at 33.9 percent and sugar, confectionery and desserts at 45.0 percent, fish and other seafood at 8.2 percent, milk, other dairy products and eggs at 12.2, fruits and nuts at 1.5 percent and corn at 14.9 percent.
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