SPECIAL RELEASE: Summary Inflation Report of Lucena City Consumer Price Index (2018=100) March 2023
Release-Date
Reference-Number
2023 – 078
The headline inflation in Lucena City slowed down to 7.0 percent in March 2023, from 8.2 percent in February 2023. In March 2022, inflation rate was lower at 3.4 percent. The average inflation rate in Lucena City for the first three months of the year stood at 7.2 percent. The downtrend in the inflation rate of Lucena City in March 2023 was primarily due to the lower inflation rate in the heavily-weighted food and non-alcoholic beverages, which was recorded at 5.3 percent, from 8.2 percent in the previous month. This was followed by transport at 16.9 percent, from 23.4 percent in February 2023. Also contributing to the downtrend in the overall inflation during the period were the lower annual increments in the indices of alcoholic beverages and tobacco at 10.0 percent, from 10.5 percent; and clothing and footwear at 2.3 percent, from 2.5 percent. ln contrast, among the 13 commodity groups, only housing, water, electricity, gas and other fuels recorded an increment during the month at 9.1 percent inflation rate, from 8.2 percent in February 2023. Meanwhile, the following commodity groups retained their previous month’s inflation: a.Furnishings, household equipment and routine household maintenance at 1.5 percent; b.Health at 4.0 percent; c.Information and communication at 0.0 percent; d.Recreation, sport and culture at 2.9 percent; e.Education services at 4.1 percent; f.Restaurants and accommodation services at 9.4 percent; g.Financial services at 0.0 percent; and h.Personal care, and miscellaneous goods and services at 4.3 percent. Inflation for food in Lucena City decreased to 5.5 percent during the month, from 8.6 percent in February 2023. In March 2022, it stood at -0.1 percent. The deceleration in food inflation was mainly brought about by the annual decrement in the index of meat and other parts of slaughtered land animals recording an inflation rate of -0.1 percent\, from 6.6 percent in February 2023. This was followed by fish and other seafood at 7.9 percent, from 14.7 percent and vegetables, tubers, plantains, cooking bananas and pulses at 17.3 percent, from 27.0 percent. Likewise, lower inflation rates during the month were observed in the following food groups: a.Rice at 0.0 percent, from 0.2 percent; b.Flour, bread and other bakery products, pasta products, and other cereals at 4.0 percent, from 4.2 percent; c.Sugar, confectionery and desserts at 33.8 percent, from 35.0 percent; and d.Ready-made food and other food products not elsewhere classified at 7.9 percent, from 9.0 percent. In contrast, the following food groups exhibited increases in the annual growth rate: a.Corn at 35.5 percent, from 32.3 percent; b.Oils and fats at -0.9 percent, from -7.2 percent; and c.Fruits and nuts at 15.2 percent, from 5.0 percent. Meanwhile, milk, and other dairy products and eggs retained its previous month’s inflation at 7.6 percent. (SGD.) AIRENE A. PUCYUTAN Provincial Statistics Officer PSA Quezon NDP/MZR/EAD
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