SPECIAL RELEASE: Summary Inflation Report of Quezon Province Consumer Price Index (2018=100) March 2023
Release-Date
Reference-Number
2023 – 077
The headline inflation in Quezon province eased to 7.5 percent in March 2023, after two consecutive months of acceleration. With this month’s inflation, the average inflation of Quezon province from January to March 2023 stood at 8.0 percent. In March 2022, inflation rate was lower at 3.3 percent. The slowdown in inflation in the province in March 2023 was mainly brought about by the heavily-weighted food and non-alcoholic beverages, which recorded a lower inflation rate of 7.1 percent, from 8.9 percent in the previous month. This was followed by transport at 20.0 percent, from 25.3 percent in February 2023. Also contributing to the downtrend in the overall inflation during the period were the lower annual increments in the indices of alcoholic beverages and tobacco at 10.9 percent, from 11.1 percent; and housing, water, electricity, gas and other fuels at 9.2 percent, from 9.3 percent. ln contrast, increased inflation rates during the month were observed in the following commodity groups: a.Furnishings, household equipment and routine household maintenance at 2.0 percent, from 1.9 percent; b.Health at 5.7 percent, from 5.5 percent; and c.Personal care, and miscellaneous goods and services at 3.5 percent, from 3.4 percent. Meanwhile, the following commodity groups retained their previous month’s inflation: a.Clothing and footwear at 2.2 percent; b.Information and communication at 0.0 percent; c.Recreation, sport and culture at 1.8 percent; d.Education services at 3.0 percent; e.Restaurants and accommodation services at 5.2 percent; and f.Financial services at 0.0 percent. Inflation for food in the province decreased to 7.3 percent during the month, from 9.4 percent in February 2023. In March 2022, food inflation stood at -0.7 percent. The deceleration in food inflation was mainly brought about by the annual decrement in the index of meat and other parts of slaughtered land animals recording an inflation rate of -0.5 percent, from 5.1 percent in February 2023. This was followed by vegetables, tubers, plantains, cooking bananas and pulses at 18.9 percent, from 30.2 percent and fish and other seafood at 15.9 percent, from 16.5 percent. Likewise, lower inflation rates during the month were observed in the following food groups: a.Flour, bread and other bakery products, pasta products, and other cereals at 6.3 percent, from 6.5 percent; b.Milk, other dairy products and eggs at 6.5 percent, from 7.4 percent; c.Sugar, confectionery and desserts at 45.8 percent, from 48.3 percent; and d.Ready-made food and other food products not elsewhere classified at 7.9 percent, from 8.7 percent. In contrast, the following food groups posted inclines in the annual growth rates: a.Corn at 33.2 percent, from 25.6 percent; b.Oils and fats at -3.2 percent, from -4.5 percent; and c.Fruits and nuts at 9.7 percent, from 3.1 percent. Meanwhile, rice retained its previous month's inflation at 0.1 percent. (SGD.) AIRENE A. PUCYUTAN Provincial Statistics Officer PSA Quezon NDP/MZR/EAD
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