SPECIAL RELEASE Summary Inflation Report of Lucena City Consumer Price Index (2018=100), August 2022
Release-Date
Reference-Number
SR STAT 2022 – 030
The headline inflation in Lucena City eased to 5.1 percent in August 2022, after five consecutive months of acceleration. With this month’s inflation, the average inflation of Lucena City from January to August 2022 stood at 4.1 percent. In August 2021, inflation rate was posted at 6.1 percent. The slowdown in inflation in Lucena City in August 2022 was primarily due to the lower annual increment recorded in the index for housing, water, electricity, gas and other fuels at 7.6 percent, from 10.9 percent in the previous month. This was followed by food and non-alcoholic beverages whose index declined by 2.3 percent year-on-year, from 3.2 percent in July 2022. Also contributing to the downtrend in the overall inflation during the period were the lower annual increments in the indices of the following commodity groups as compared with their previous month’s inflation rates: Health at 6.1 percent from 6.6 percent; and Transport at 22.8 percent from 25.8. In contrast, inflation rates were higher for the following commodity groups during the month: Alcoholic beverages and tobacco at 5.8 percent from 5.6 percent; Clothing and footwear at 2.0 percent from 1.9 percent; Recreation, sport and culture at 2.5 percent from 1.4 percent; Education services at 6.0 percent from 1.8 percent; Restaurants and accommodation services at 3.1 percent 1.6 percent; and Personal care, and miscellaneous goods and services at 3.1 percent from 2.5 percent. Meanwhile, the commodity groups of furnishings, household equipment and routine household maintenance; information and communication; and financial services retained their previous month’s inflation. Inflation for food in Lucena City slid at 2.4 percent during the month, from 3.4 percent in July 2022. In August 2021, it was higher at 10.4 percent. The deceleration in food inflation was mainly brought about by vegetables, tubers, plantains, cooking bananas and pulses, which declined annually by 15.9 percent. Likewise, annual hikes slowed down in the indices of rice at 0.9 percent; corn at 17.4 percent; and fish and other seafood at 3.6 percent. On the contrary, the following food groups exhibited faster annual growth during the month: Flour, bread and other bakery products, pasta products, and other cereals, 3.7 percent; Meat and other parts of slaughtered land animals, 7.5 percent; Oil and fats, 12.0 percent; Sugar, confectionery and desserts, 20.7 percent; and Ready-made food and other food products N.E.C., 4.8 percent. Likewise, fruits and nuts index went up to 3.3 percent during the month, from -2.0 percent in the previous month. Meanwhile, the index for milk, other dairy products and eggs registered an annual decline at -2.7 percent.
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