SPECIAL RELEASE: Summary Inflation Report of Quezon Province Consumer Price Index (2018=100) May 2023
Release-Date
Reference-Number
2023 – 113
The headline inflation in Quezon province slowed down further to 5.1 percent in May 2023 from 5.4 percent in April 2023. The deceleration in the headline inflation across the province was noted for the third consecutive month. However, the inflation in May 2022 was still lower at 4.4 percent. The year-to-date average inflation of Quezon province, that is from January to May 2023, stood at 6.9 percent. The slowdown in inflation in the province in May 2023 was mainly brought about by lower annual increment noted in the index of transport at 11.3 percent, from 14.9 percent in the previous month. This was followed by housing, water, electricity, gas and other fuels at 5.4 percent, from 6.9 percent and commodity group of personal care, and miscellaneous goods and services at 3.2 percent, from 3.4 percent. In contrast, higher inflation rates were observed in the indices of food and non-alcoholic beverages at 4.6 percent, from 3.7 percent; clothing and footwear at 2.3 percent, from 2.2percent; and recreation, sport and culture at 2.0 percent, from 1.8 percent. Meanwhile, the following commodity groups retained their previous month’s inflation: a.Alcoholic beverages and tobacco at 9.6 percent; b.Furnishings, household equipment and routine household maintenance at 2.0 percent; c.Health at 5.5 percent; d.Information and communication at 0.0 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 increased to 4.7 percent during the month, from 3.7 percent in April 2023. In May 2022, food inflation stood at 1.2 percent. The acceleration in food inflation in May 2023 was primarily due to the higher annual increment in the index of fish and other seafood at 6.4 percent, from 1.0 percent in April 2023. This was followed by vegetables, tubers, plantains, cooking bananas and pulses at 10.7 percent, from 1.8 percent; and rice at 0.2 percent, from 0.1 percent. In contrast, the following food groups posted declines in the annual growth rates: a.Corn at 13.4 percent, from 16.3 percent; b.Flour, bread and other bakery products, pasta products, and other cereals at 5.7 percent, from 5.8 percent; c.Meat and other parts of slaughtered land animals at -0.8 percent, from 1.1 percent; d.Milk, other dairy products and eggs at 5.2 percent, from 6.1 percent; e.Oils and fats at -4.9 percent, from -3.2 percent; f.Fruits and nuts at 13.2 percent, from 15.0 percent; g.Sugar, confectionery and desserts at 41.1 percent, from 42.0 percent; and h.Ready-made food and other food products not elsewhere classified at 6.3 percent, from 6.6 percent. (SGD.) AIRENE A. PUCYUTAN Provincial Statistics Officer PSA Quezon NDP/MZR/EAD
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