SPECIAL RELEASE: Summary Inflation Report of Lucena City Consumer Price Index (2018=100) July 2023
Release-Date
Reference-Number
2023 – 145
The headline inflation in Lucena City continued its decrease as it moved down further to 2.5 percent in July 2023, from 4.2 percent in June 2023. The headline inflation in the city had a fifth consecutive month of deceleration and the lowest since December 2021. Moreover, the inflation in July 2023 was lower compared to July 2022 inflation which was recorded at 5.8 percent. The average inflation rate in Lucena City from January to July 2023 stood at 5.6 percent. The downtrend in the inflation rate of Lucena City was primarily due to the lower inflation rate in housing, water, electricity, gas and other fuels at -0.8 percent in July 2023, from 5.0 percent in the previous month. This was followed by transport at 1.7 percent, from 6.4 percent. Restaurants and accommodation services was the third main source of deceleration of the inflation in July 2023 with 7.6 percent annual growth rate from 9.4 percent in June 2023. 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: a.Alcoholic beverages and tobacco at 5.2 percent, from 7.6 percent; b.Clothing and footwear at 2.3 percent, from 2.4 percent; c.Furnishings, household equipment and routine household maintenance at 1.1 percent, from 1.2 percent; d.Health at 3.6 percent, from 4.0 percent; e.Recreation, sport and culture at 2.4 percent, from 2.6 percent; and f.Personal care, and miscellaneous goods and services at 2.7 percent, from 3.3 percent. On the contrary, the index of food and non-alcoholic beverages exhibited a faster year-on-year increase at 2.7 percent, from 1.8 percent. Meanwhile, the following commodity groups retained their previous month’s inflation: a.Information and communication at 0.0 percent; b.Education services at 4.1 percent; and c.Financial services at 0.0 percent. Inflation for food in Lucena City increased to 2.6 percent during the month, from 1.7 percent in June 2023. In July 2022, it stood at 3.4 percent. The acceleration in food inflation was primarily due to the higher annual increment in the index of vegetables, tubers, plantains, cooking bananas and pulses at 28.1 percent, from 9.7 percent in June 2023. This was followed by fish and other seafood at -0.6 percent, from -4.7 percent. Likewise, the increase in the inflation rates during the month were observed in the following food groups: a.Rice at 0.8 percent, from 0.6 percent; and b.Milk, other dairy products and eggs at 6.8 percent, from 5.3 percent. In contrast, following food groups posted lower inflation rates during the month: a.Flour, bread and other bakery products, pasta products, and other cereals at 3.0 percent, from 3.3 percent; b.Meat and other parts of slaughtered land animals at -4.6 percent, from -2.4 percent. c.Oils and fats at -4.2 percent, from -0.6 percent; d.Fruits and nuts at 2.1 percent, from 9.7 percent; e.Sugar, confectionery and desserts at 25.6 percent, from 33.2 percent; and f.Ready-made food and other food products not elsewhere classified at 5.1 percent, from 5.9 percent. Meanwhile, index of corn retained its previous month’s inflation at -8.1 percent. (SGD.) AIRENE A. PUCYUTAN Provincial Statistics Officer PSA Quezon NDP/MZR/EAD
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