SPECIAL RELEASE: Summary Inflation Report of Quezon Province Consumer Price Index (2018=100) April 2023
Release-Date
Reference-Number
2023–096
The headline inflation in Quezon province slowed down further to 5.4 percent in April 2023 from 7.5 percent in March 2023. With this month’s inflation, the average inflation of Quezon province from January to April 2023 stood at 7.4 percent. In April 2022, inflation rate was lower at 4.0 percent. The slowdown in inflation in the province in April 2023 was mainly brought about by the heavily-weighted food and non-alcoholic beverages, which recorded a lower inflation rate of 3.7 percent, from 7.1 percent in the previous month. This was followed by housing, water, electricity, gas and other fuels at 6.9 percent, from 9.2 percent in March 2023 and transport at 14.9 percent, from 20.0 percent. 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: a.Alcoholic beverages and tobacco at 9.6 percent, from 10.9 percent; b.Health at 5.5 percent, from 5.7 percent; and c.Personal care, and miscellaneous goods and services at 3.4 percent, from 3.5 percent. Meanwhile, the following commodity groups retained their previous month’s inflation: a.Clothing and footwear at 2.2 percent; b.Furnishings, household equipment and routine household maintenance at 2.0 percent; c.Information and communication at 0.0 percent; d.Recreation, sport and culture at 1.8 percent; e.Education services at 3.0 percent; f.Restaurants and accommodation services at 5.2 percent; and g.Financial services at 0.0 percent. Inflation for food in the province continued its decrease as it moved down further to 3.7 percent during the month, from 7.3 percent in March 2023. In April 2022, food inflation stood at 0.5 percent. The deceleration in food inflation in April 2023 was primarily due to the lower annual increment in the index of fish and other seafood at 1.0 percent, from 15.9 percent in March 2023. This was followed by vegetables, tubers, plantains, cooking bananas and pulses at 1.8 percent, from 18.9 percent. Likewise, the drop in inflation rates during the month were observed in the following food groups: a.Corn at 16.3 percent, from 33.2 percent; b.Flour, bread and other bakery products, pasta products, and other cereals at 5.8 percent, from 6.3 percent; c.Milk, other dairy products and eggs at 6.1 percent, from 6.5 percent; d.Sugar, confectionery and desserts at 42.0 percent, from 45.8 percent; and e.Ready-made food and other food products not elsewhere classified at 6.6 percent, from 7.9 percent. In contrast, the following food groups posted inclines in the annual growth rates: a.Meat and other parts of slaughtered land animals at 1.1 percent, from -0.5 percent; and b.Fruits and nuts at 15.0 percent, from 9.7 percent. On the other hand, oils and fats retained its previous month's inflation at -3.2 percent while index for rice had an annual growth rate of 0.1 percent for three consecutive months. (SGD.) AIRENE A. PUCYUTAN Provincial Statistics Officer PSA Quezon NDP/MZR/EAD
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