Summary Inflation Report Consumer Price Index (2018=100) Region IV-A (CALABARZON) June 2023
Release-Date
Reference-Number
2023-0400-SR10
Table A. Year-on-Year Inflation Rates in CALABARZON by Province and HUC, All Items In Percent (2018=100) Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority *Year-on-year change of average Consumer Price Index (CPI) for January to June 2023 vs. 2022 same period All provinces registered slower inflation rates in June 2023 from May 2023. The year-on-year change in the average CPI of the region for the first six months of the year was 7.0 percent (refer to Table A). Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority The monthly headline inflation rate in CALABARZON has been decreasing this year, dropping from 8.5 percent in January to 5.5 percent in June. Additionally, this month’s inflation rate was lower than the recorded inflation rate in June 2022 at 5.8 percent (as shown in Figure 1). Table B. Year-on-Year Changes of the Consumer Price Index in Percent in Region IV-A (CALABARZON), by Commodity Group: May – June 2023 In Percent (2018=100) Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority The decrease in the region’s inflation was mainly brought about by the lower annual increase in prices of food and non-alcoholic beverages at 6.5 percent, compared to 7.6 percent in May. Also contributing to the downtrend in the overall inflation during the period were the lower annual increments in the indices of the following: Housing, electricity, gas and other fuels at 7.2 percent; Health at 3.8 percent; Alcoholic beverages, and tobacco at 12.5 percent; Personal care, and miscellaneous goods and services at 5.2 percent; and Furnishings, household equipment and routine household maintenance at 4.8 percent. Furthermore, deflation (negative inflation) was recorded in transport and information and communication indices at -0.7 percent and -0.1 percent, respectively. In contrast, higher annual increments were observed in the indices of the following commodity groups as compared to their previous month’s inflation rates: Clothing and footwear at 4.8 percent; Recreation, sport and culture at 4.2 percent; and Restaurants and accommodation services at 7.6 percent. The rest of the commodity groups retained their previous month’s inflation rates. (Table B) Table C. Year-on-Year Inflation Rates of Food Items in Region IVA (CALABARZON) (2018=100) Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority For food inflation, it decreased by 1.2 percent index points in June 2023, with 6.4 percent inflation compared to its previous month’s record of 7.6 percent but it is still higher than June 2022 inflation rate at 5.7 percent (Table C). The inflation rate of the meat and other parts of slaughtered land animals index went down to 0.2 percent during the month, from 2.5 percent in the previous month. Moreover, food groups that exhibited lower annual increments during the month are the following: fish and other seafood at 6.3 percent; milk, other dairy products and eggs at 11.5 percent; fruits and nuts at 9.5 percent; vegetables, tubers, plantains, cooking bananas and pulses at 10.6 percent; sugar, confectionery and desserts at 28.6 percent; and ready-made food and other food products n.e.c. at 8.2 percent. Furthermore, oils and fats index recorded deflation during the month at -2.2 percent. Meanwhile, the inflation rate of the cereals and cereal products index went up to 6.6 percent during the month, from 6.4 percent in the previous month. Rice index accelerated at 3.7 percent during the month while the corn index had lower annual uptick at 16.7 percent (Table C). CHARITO C. ARMONIA Regional Director BFP /COB/JAS
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