Summary Inflation Report Consumer Price Index (2018=100) August 2022
Release-Date
Reference-Number
2022-0400-SR19
Table A. Year-on-Year Inflation Rates in CALABARZON, All Items In Percent (2018=100) The headline inflation in CALABARZON decreased to 5.1 percent in August 2022, from 5.9 percent in July 2022. This is the first recorded deceleration since January 2022. Moreover, this is a 0.2-percent index point decrease over the recorded inflation rate in the same month of 2021 at 5.3 percent. The average inflation for the first seven months of the year stood at 4.4 percent. (Table A and Figure 1) Table B. Year-on-Year Changes of the Consumer Price Index in Percent in Region IVA (CALABARZON) by Commodity Group: July – August 2022 In Percent (2018=100) The decrease in the region’s inflation was mainly brought about by the lower annual increase in the index for food and non-alcoholic beverages at 4.3 percent; transport, 13.2 percent; and housing, water, electricity, gas, and other fuels, 5.4 percent. Also contributing to the downtrend in the overall inflation during the period were the lower annual increments in the indices of restaurants and accommodation services at 2.8 percent and information and communication at -0.1 percent; Meanwhile, annual upticks escalated in the indices of the following commodity groups as compared to their previous month’s inflation rates: alcoholic beverages and tobacco at 8.9 percent; clothing and footwear at 2.3 percent; furnishings, household equipment and routine household maintenance at 3.2 percent; health at 3.7 percent; recreation, sport and culture at 2.0 percent; education services at 2.7 percent; and personal care, and miscellaneous goods and services at 3.1 percent. The rest of the commodity groups either retained their previous month’s inflation rates or had zero percent annual growths. (Table B) Table C. Year-on-Year Inflation Rates of Food Items in Region IVA (CALABARZON) (2018=100) For food inflation, it decreased by 1.8 percent index points in August 2022, with 4.3 percent inflation compared to its previous month’s record of 6.1 percent. In August 2021, food inflation was higher compared to this year’s inflation at 8.2 percent. (Table C) The annual growth rate of the oils and fats index went down to 23.0 percent during the month, from 23.4 percent in the previous month. In addition, double-digit deflation was recorded in the index of vegetables, tubers, cooking bananas and pulses at -10.6 percent. Meanwhile, double-digit growth rate was observed in sugar, confectionery and desserts at 20.9 percent. Moreover, food groups exhibited higher annual increments during the month are the following: Cereals and cereal products, 4.0 percent; Meat and other parts of slaughtered land animals, 6.4 percent; Milk, other dairy products, and eggs, 4.8 percent; and Ready-made food and other food products n.e.c., 5.7 percent. Similarly, the rice index accelerated at 2.2 percent inflation during the month, from 1.8 percent in the previous month. In contrast, the corn index had lower annual uptick at 7.9 percent. (Table C) (SGD) CHARITO C. ARMONIA Regional Director BFP/JAS
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