Special Release: Batangas Province's Summary Inflation Report for November 2022
Release-Date
Reference-Number
2022 - 090
Batangas headline inflation accelerated further to 9.2 percent in November 2022, from 8.9 percent in October 2022 . This is the highest recorded inflation since November 2019. With this month’s inflation, Batangas average inflation from January to November 2022 stood at 6.6 percent. In October 2021, inflation rate was observed at 4.7 percent. The sustained acceleration of inflation in November 2022 was primarily due to the higher year-on-year growth rate in the index of housing, water, electricity, gas and other fuels at 12.7 percent from 10.1 percent in October 2022. Also contributing to the uptrend in the overall inflation in November 2022 was the higher annual increase in the index of furnishings, household equipment and routine household maintenance at 5.7 percent from 5.2 percent in October 2022. Moreover, relative to their annual rates in November 2022, annual increases were also higher in the indices of the following: a. Alcoholic Beverages and Tobacco, 10.8 percent b. Personal care and miscellaneous goods and services, 3.1 percent c. Recreation, Sports and Culture, 2.5 percent On the other hand, lower annual increments were observed in the indices of food and non- alcoholic beverages at 8.9 percent and transport at 17.8 percent. Meanwhile, for clothing and footwear at 6.4 percent, health at 2.5 percent, information communication at 0.6 percent, education services at 2.6 percent, restaurants and accommodation services at 7.8 percent retained its previous month’s annual rates. The financial services index retained its previous month’s annual rate at zero 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 7.5 percent Lower annual growth rates were also seen in the following food groups: a. Cereals, 3.1 percent b. Rice, 3.0 percent c. Corn, 14.6 percent d. Flour, Bread and other bakery products, pasta products, and other cereals, 7.8 percent e. Fish and other seafood, 8.1 percent f. Milk other dairy products and eggs, 11.1 percent g. Oils and fats, 20.2 percent h. Ready-made food and other food products N.E.C., 4.8 percent On the contrary, faster annual growth rates were observed in the indices of vegetables, tubers, plantains, cooking bananas and pulses at 26.4 percent and sugar, confectionery and desserts at 43.9 percent, and fruits and nuts at 0.0 percent
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