SPECIAL RELEASE Summary Inflation Report of Lucena City Consumer Price Index (2018=100), November 2022
Release-Date
Reference-Number
SR STAT 2022 – 048
The headline inflation in Lucena City eased to 6.7 percent in November 2022, after two consecutive months of acceleration. With this month’s inflation, the average inflation of Lucena City from January to November 2022 stood at 4.8 percent. In November 2021, inflation rate was posted at 3.9 percent. The slowdown in inflation in Lucena City in November 2022 was primarily due to the lower annual increment recorded in the index for housing, water, electricity, gas and other fuels at 9.0 percent, from 11.3 percent in the previous month. This was followed by health whose index declined by 4.7 percent year-on-year, from 6.1 percent in October 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: a. Food and non-alcoholic beverages at 5.0 percent, from 5.1 percent; b. Furnishings, household equipment and routine household maintenance at 1.2 percent, from 1.3 percent; c. Transport at 29.0 percent, from 29.8 percent; and d. Recreation, sport and culture at 2.7 percent, from 2.9 percent. In contrast, inflation rate for clothing and footwear; and personal care, and miscellaneous goods and services accelerated at 2.3 percent and 3.6 percent, respectively. Meanwhile, the following commodity groups retained their previous month’s inflation: a. Alcoholic beverages and tobacco at 8.0 percent; b. Information and communication at 0.0 percent; c. Education services at 4.1 percent; d. Restaurants and accommodation services at 3.1 percent; and e. Financial services at 0.0 percent. Inflation for food in Lucena City slid to 5.3 percent during the month, from 5.4 percent in October 2022. In November 2021, it was lower at 4.0 percent. The deceleration in food inflation was mainly brought about by lower annual growth rate in the index of meat and other parts of slaughtered land animals, which inclined annually by 2.1 percent, from annual growth rate of 7.9 percent recorded in the previous month. Likewise, annual hikes slowed down in the indices of the following food groups: Fish and other seafood at 3.8 percent, from 8.2 percent; Oils and fats at 19.6 percent, from 24.3 percent; and Sugar, confectionery and desserts at 21.8 percent from 22.7 percent. Moreover, negative inflation in the index of fruits and nuts was noted during the month with -3.3 percent. On the contrary, the following food groups exhibited increases in the annual growth rate: Corn at 23.7 percent, from 5.7 percent; Flour, bread and other bakery products, pasta products, and other cereals at 3.9 percent, from 3.3 percent; Vegetables, tubers, plantains, cooking bananas and pulses at 28.1, from 6.2 percent; and Ready-made food and other food products N.E.C. at 8.4 percent, from 6.5 percent; and Milk, other dairy products and eggs at 1.4 percent, from -0.3 percent. Meanwhile, rice retained its previous month’s inflation of 0.0 percent.
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