SPECIAL RELEASE: Summary Inflation Report of Quezon Province Consumer Price Index (2018=100) January 2023
Release-Date
Reference-Number
2023-032
The headline inflation in Quezon province accelerated to 8.0 percent in January 2023, from 7.4 percent in December 2022. In January 2022, inflation rate was lower at 2.4 percent. The acceleration in inflation in the province in January 2023 was primarily due to the higher annual increment noted in the index for food and non-alcoholic beverages at 8.6 percent from 5.6 percent in the previous month. This was followed by alcoholic beverages and tobacco at 10.8 percent, from 8.6 percent in December 2022. Also contributing to the increase in inflation was transport with an inflation rate of 30.7 percent in January 2023, from 30.5 percent in December 2022. On the contrary, lower annual increments were observed for the following commodity groups during the month: Housing, water, electricity, gas and other fuels at 7.2 percent, from 11.1 percent; Furnishings, household equipment and routine household maintenance at 2.8 percent, from 3.1 percent; Health at 4.3 percent, from 5.8 percent; Recreation, sport and culture at 1.5 percent, from 1.8 percent; Restaurants and accommodation services at 1.9 percent, from 2.5 percent; and Personal care, and miscellaneous goods and services at 2.6 percent, from 2.8 percent. Meanwhile, the following commodity groups retained their previous month’s inflation: Clothing and footwear at 1.4 percent; Information and communication at 0.0 percent; Education services at 3.0 percent; and Financial services at 0.0 percent. Inflation for food in the province rose to 9.1 percent during the month, from 5.9 percent in December 2022. In January 2022, food inflation stood at -1.5 percent. The higher food inflation was mainly brought about by the increased year-on-year growth in the index of vegetables, tubers, plantains, cooking bananas and pulses at 44.4 percent in January 2023, from 31.5 percent in December 2022. Moreover, higher annual hikes during the month were observed in the indices of the following food groups compared to the previous month: Corn at 26.6 percent, from 22.1 percent; Flour, bread and other bakery products, pasta products, and other cereals at 6.8 percent, from 6.2 percent; Meat and other parts of slaughtered land animals at 3.7 percent, from 1.0 percent; Fish and other seafood at 4.7 percent, from -1.1 percent; Milk, other dairy products and eggs at 3.8 percent, from 0.3 percent; and Fruits and nuts at 6.6 percent, from 6.1 percent. In contrast, the following food groups posted declines in the annual growth rates: Oils and fats at 4.5 percent, from 12.4 percent; Sugar, confectionery and desserts at 50.3 percent, from 53.9 percent; and Ready-made food and other food products not elsewhere classified at 8.5 percent, from 8.6 percent. Meanwhile, rice retained its previous month’s inflation at 0.0 percent. (SGD.) AIRENE A. PUCYUTAN Provincial Statistics Officer PSA Quezon
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