SPECIAL RELEASE Summary Inflation Report of Lucena City Consumer Price Index (2018=100), September 2022
Release-Date
Reference-Number
SR STAT 2022 – 036
The headline inflation in Lucena City accelerated to 5.8 percent in September 2022, from 5.1 percent in August 2022. This is the highest inflation observed since September 2021. With this month’s inflation, the average inflation of Lucena City from January to September 2022 stood at 4.3 percent. In September 2021, inflation rate was posted at 5.6 percent. The acceleration in Lucena City’s inflation rate in September 2022 was primarily due to the higher annual increment recorded in the index for housing, water, electricity, gas and other fuels at 10.9 percent, from 7.6 percent in the previous month. This was followed by transport whose index increased by 25.6 percent year-on-year, from 22.8 percent in August 2022. Also contributing to the downtrend in the overall inflation during the period were the higher annual increments in the indices of the following commodity groups as compared with their previous month’s inflation rates: Alcoholic beverages and tobacco at 7.4 percent from 5.8 percent; Clothing and footwear at 2.1 percent from 2.0 percent; Health at 6.2 percent from 6.1 percent; and Recreation, sport and culture at 2.9 percent from 2.5 percent. On the contrary, lower annual increment were noted in the indices for the following commodity groups during the month: Food and non-alcoholic beverages at 2.2 percent from 2.3 percent; Education services at 4.1 percent from 6.0 percent; Personal care, and miscellaneous goods and services at 3.0 percent from 3.1 percent. Meanwhile, the commodity groups of furnishings, household equipment and routine household maintenance; information and communication; restaurants and accommodation services; and financial services retained their previous month’s inflation. Inflation for food in Lucena City slid at 2.2 percent during the month, from 2.4 percent in August 2022. In September 2021, it was higher at 10.0 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 at 4.1 percent from 7.5 percent in the previous month. Likewise, annual hikes slowed down in the indices of rice at 0.0 percent from 0.9 percent; corn at 7.7 percent from 17.4 percent; and flour, bread and other bakery products, pasta products, and other cereals at 3.5 percent from 3.7 percent. In contrast, the following food groups exhibited faster annual growth rates during the month: Fish and other seafood at 5.0 percent from 3.6 percent; Oil and fats at 15.3 percent from 12.0 percent; Fruits and nuts at 4.6 percent from 3.3 percent; Sugar, confectionery and desserts at 21.4 percent from 20.7 percent; and Ready-made food and other food products N.E.C. at 5.4 percent from 4.8 percent. Meanwhile, higher indices for milk, other dairy products and eggs; and vegetables, tubers, plantains, cooking bananas and pulses were observed in September 2022 from previous month, but declined by 1.1 percent and 12.8 percent, respectively compared to September 2021.
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