SPECIAL RELEASE: Summary Inflation Report of Lucena City Consumer Price Index (2018=100) December 2022
Release-Date
Reference-Number
2023 – 006
The headline inflation in Lucena City continued its downtrend as it moved down further to 6.6 percent in December 2022, from 6.7 percent in November 2022. In December 2021, inflation rate was recorded at 2.1 percent. The continued downtrend of the December 2022 inflation was primarily due to the lower annual increment noted in the index for transport at 28.0 percent, from 29.0 percent in November 2022. This was followed by housing, water, electricity, gas and other fuels whose index declined by 8.8 percent year-on-year, from 9.0 percent in the previous month. 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: Alcoholic beverages and tobacco at 7.9 percent, from 8.0 percent; Clothing and footwear at 1.8 percent, from 2.3 percent; Health at 3.9 percent, from 4.7 percent; Recreation, sport and culture at 2.6 percent, from 2.7 percent; and Personal care, and miscellaneous goods and services at 3.4 percent, from 3.6 percent. ln contrast, inflation rate for food and non-alcoholic beverages accelerated at 5.4 percent. Meanwhile, the following commodity groups retained their previous month’s inflation: Furnishings, household equipment and routine household maintenance at 1.2 percent; Information and communication at 0.0 percent; Education services at 4.1 percent; Restaurants and accommodation services at 3.1 percent; and Financial services at 0.0 percent. Inflation for food in Lucena City increased to 5.7 percent during the month, from 5.3 percent in November 2022. In December 2021, it was lower at 0.1 percent. The acceleration in food inflation was mainly brought about by higher annual growth rate in the index of fruit and nuts which inclined annually by 5.0 percent, from -3.3 percent recorded in the previous month. Likewise, annual hikes in the indices of the following food group increased: Rice at 0.1 percent, from 0.0 percent; Fish and other seafood at 4.0 percent, from 3.8 percent; Milk, and other dairy products and eggs at 1.6 percent, from 1.4 percent; Vegetables, tubers, plantains, cooking bananas and pulses at 32.5 percent, from 28.1 percent; and Sugar, confectionery and desserts at 32.4 percent, from 21.8 percent. On the contrary, the following food groups exhibited decreases in the annual growth rate: Meat and other parts of slaughtered land animals at 0.1 percent, from 2.1 percent; Oils and fats at 15.3 percent, from 19.6 percent; and Ready-made food and other food products N.E.C. at 8.1 percent, from 8.4 percent. Meanwhile, corn; and flour, bread and other bakery products, pasta products, and other cereals retained its previous month’s inflation of 23.7 percent and 3.9 percent, respectively. The average inflation rate in Lucena City for 2022 stood at 5.0 percent, higher than the 2021 average inflation rate of 4.5 percent. Compared with their respective average inflation rates in 2021, the indices of the following commodity groups recorded higher annual mark-ups in 2022: Housing, water, electricity, gas and other fuels at 9.4 percent, from 4.0 percent; Health at 6.0 percent, from 4.3 percent; Transport at 21.0 percent, from 4.5 percent; Recreation, sport and culture at 1.9 percent, from -4.6 percent; Education services at 2.9 percent, from 0.6 percent; Restaurants and accommodation services at 1.8 percent, from 1.2 percent; and Personal care, and miscellaneous goods and services at 2.4 percent, from 2.3 percent. On the contrary, average inflation during the year was lower in the indices of the following commodity groups compared to that of the previous year: Food and non-alcoholic beverages at 2.3 percent, from 7.1 percent; Alcoholic beverages and tobacco at 5.6 percent, from 12.1 percent; Clothing and footwear at 2.0 percent, from 2.1 percent; Furnishings, household equipment and routine household maintenance at 2.0, from 4.0 percent; Information and communication at 0.0 percent, from 0.2 percent; and Financial services at 8.6 percent, from 34.5 percent. AIRENE A. PUCYUTAN Provincial Statistics Officer PSA Quezon
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