SPECIAL RELEASE: Summary Inflation Report of Lucena City Consumer Price Index (2018=100) January 2023
Release-Date
Reference-Number
2023-033
The headline inflation in Lucena City continued its downtrend as it moved down further to 6.4 percent in January 2023, from 6.6 percent in December 2022. In January 2022, inflation rate was recorded at 2.9 percent. The continued downtrend of the January 2023 inflation was primarily due to the lower annual increment noted in the index for housing, water, electricity, gas and other fuels at 5.0 percent, from 8.8 percent in December 2022. This was followed by transport whose index was posted at 26.9 percent during the month, from 28.0 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: Health at 3.6 percent, from 3.9 percent; Recreation, sport and culture at 2.1 percent, from 2.6 percent; and Personal care, and miscellaneous goods and services at 3.0 percent, from 3.4 percent. ln contrast, inflation rates increased for the following commodity groups during the month: Food and non-alcoholic beverages at 7.0 percent, from 5.4 percent; Alcoholic beverages and tobacco at 10.2 percent, from 7.9 percent; Clothing and footwear at 1.9 percent, from 1.8 percent; and Furnishings, household equipment and routine household maintenance at 1.3 percent, from 1.2 percent. Meanwhile, the following commodity groups retained their previous month’s inflation: 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 7.4 percent during the month, from 5.7 percent in December 2022. In January 2022, it stood at -0.5 percent. The acceleration in food inflation was mainly brought about by higher annual growth rate in the index of meat and other parts of slaughtered land animals which inclined annually by 3.1 percent, from 0.1 percent recorded in the previous month. Likewise, annual hikes in the indices of the following food group increased: Corn at 32.3 percent, from 23.7 percent; Flour, bread and other bakery products, pasta products, and other cereals at 4.1 percent, from 3.9 percent; Milk, and other dairy products and eggs at 4.5 percent, from 1.6 percent; Fruits and nuts at 6.9 percent, from 5.0 percent; Vegetables, tubers, plantains, cooking bananas and pulses at 39.2 percent, from 32.5 percent; and Sugar, confectionery and desserts at 35.3 percent, from 32.4 percent. On the contrary, the following food groups exhibited decreases in the annual growth rate: Fish and other seafood at 2.4 percent, from 4.0 percent; Oils and fats at 2.8 percent, from 15.3 percent; and Ready-made food and other food products not elsewhere classified at 7.8 percent, from 8.1 percent. Meanwhile, rice retained its previous month’s inflation at 0.1 percent. (SGD.)AIRENE A. PUCYUTAN Provincial Statistics Officer PSA Quezon
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