SPECIAL RELEASE Summary Inflation Report of Quezon Consumer Price Index (2018=100), November 2022
Release-Date
Reference-Number
SR STAT 2022 - 047
; The headline inflation in Quezon province eased to 7.9 percent in November 2022, after two consecutive months of acceleration. With this month’s inflation, the average inflation of Quezon province from January to November 2022 stood at 5.2 percent. In November 2021, inflation rate was posted at 3.5 percent. The slowdown in inflation in the province in November 2022 was primarily due to the lower annual increment recorded in the index for housing, water, electricity, gas and other fuels at 12.6 percent, from 14.7 percent in the previous month. This was followed by transport whose index declined by 30.3 percent year-on-year, from 31.6 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. Clothing and footwear at 2.1 percent, from 2.4 percent; b. Furnishings, household equipment and routine household maintenance at 2.9 percent, from 3.0 percent; c. Health at 5.1 percent, from 5.6 percent; d. Recreation, sport and culture at 2.0 percent, from 2.2 percent; and e. Personal care, and miscellaneous goods and services at 2.9 percent from 3.1 percent. In contrast, inflation rate for food and non-alcoholic beverages accelerated at 5.9 percent, from 5.8 percent in October 2022. Meanwhile, the following commodity groups retained their previous month’s inflation: a. Alcoholic beverages and tobacco at 8.6 percent; b. Information and communication at 0.0 percent; c. Education services at 3.0 percent; d. Restaurants and accommodation services at 2.5 percent; and e. Financial services at 0.0 percent. Inflation for food in the province increased further to 6.2 percent during the month, from 6.0 percent in October 2022. In November 2021, it was lower at 2.1 percent. The acceleration in food inflation was mainly brought about by vegetables, tubers, plantains, cooking bananas and pulses, which inclined annually by 25.3 percent, from annual growth rate of 10.5 percent recorded in the previous month. Likewise, annual hikes in the indices of the following food items increased: Corn at 22.1 percent, from 3.5 percent; Flour, bread and other bakery products, pasta products, and other cereals at 6.4 percent, from 6.2 percent; and Oils and fats at 13.9 percent, from 9.8 percent. Moreover, negative inflation for milk, other dairy products and eggs was noted during the month with -0.6 percent. On the contrary, the following food groups posted declined in the annual growth rates: Meat and other parts of slaughtered land animals at 4.8 percent, from 5.9 percent; Fish and other seafood at 2.6 percent, from 9.4 percent; Fruits and nuts at 3.0 percent, from 3.1 percent; Sugar, confectionery and desserts at 35.8 percent, from 37.8 percent; and Ready-made food and other food products N.E.C. at 8.8 percent, from 8.9 percent Meanwhile, rice retained its previous month’s inflation at 0.2 percent.
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