The headline inflation in Quezon province continued its downtrend as it moved down further to 1.5 percent in December 2023, the lowest inflation rate for 2023. In November 2023, inflation rate was recorded at 1.7 percent and in December 2022, it was at 7.4 percent. 

The continued downtrend in the inflation was primarily due to the lower annual increment noted in the index for food and non-alcoholic beverages at 0.6 percent, from 1.2 percent in November 2023. This was followed by housing, water, electricity, gas and other fuels which recorded a 1.1 percent annual decline during the month, from 0.3 percent decrease noted in the previous month.

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 as compared with their previous month’s inflation rates: 
a. Furnishings, household equipment and routine household maintenance at 1.3 percent, from 1.5 percent; and 
b. Health at 2.7 percent, from 3.4 percent.

In contrast, the following commodity groups registered higher inflation rates during the month: 
a. Alcoholic beverages and tobacco at 9.1 percent, from 7.1 percent; 
b. Transport at 0.3 percent, from -0.6 percent; and 
c. Personal care, and miscellaneous goods and services at 2.9 percent, from 2.6 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 3.8 percent; 
d. Education services at 5.8 percent;  
e. Restaurants and accommodation services at 5.5 percent; and 
f. Financial services at 0.0 percent.

Inflation for food in the province slowed down to 0.4 percent during the month, from 1.0 percent in November 2023. In December 2022, food inflation was higher at 5.9 percent.

The deceleration in food inflation was mainly brought about by sugar, confectionery and desserts which recorded a 6.4 percent year-on-year decrease in December 2023, from 6.2 percent inflation rate noted in the previous month. Likewise, lower year-on-year growth rates during the month were recorded on the following food items: 
a. Meat and other parts of slaughtered land animals at -4.5 percent, from -3.5 percent; 
b. Fruits and nuts at 2.8 percent, from 3.3 percent; and 
c. Vegetables, tubers, plantains, cooking bananas and pulses at -14.1 percent, from -9.9 percent.

On the other hand, the following food groups posted higher year-on year growth rates during the month: 
a. Rice at 8.3 percent, from 7.8 percent; 
b. Flour, bread and other bakery products, pasta products, and other cereals at 4.2 percent, from 2.9 percent; 
c. Fish and other seafood at 3.9 percent, from 1.8 percent; 
d. Milk, other dairy products, and eggs at 4.4 percent, from 4.2 percent;  
e. Oils and fats at -11.6 percent, from -11.8 percent; and 
f. Ready-made food and other food products not elsewhere classified at 4.1 percent, from 3.5 percent.

Meanwhile, corn retained its previous month’s inflation of -9.2 percent.

The average inflation rate in the province for 2023 stood at 4.3 percent, lower than the 2022 average inflation rate of 5.4 percent.

Compared with their respective average inflation rates in 2022, the indices of the following commodity groups recorded lower annual mark-ups in 2023: 
a. Housing, water, electricity, gas and other fuels at 2.9 percent, from 10.8 percent; 
b. Furnishings, household equipment and routine household maintenance at 1.9 percent, from 3.3 percent; 
c. Health at 4.6 percent, from 6.0 percent;  
d. Transport at 8.9 percent, from 23.0 percent; 
e. Education services at 4.2 percent, from 5.0 percent; and 
f. Financial services at 0.0 percent, from 8.5 percent.

In contrast, average inflation during the year was higher in the indices of the following commodity groups compared to that of the previous year: 
a. Food and non-alcoholic beverages at 4.4 percent, from 2.2 percent; 
b. Alcoholic beverages and tobacco at 8.3 percent, from 5.9 percent; 
c. Recreation, sport and culture at 2.6 percent, from 1.8 percent; 
d. Restaurants and accommodation services at 4.9 percent, from 1.9 percent; and 
e. Personal care, and miscellaneous goods and services at 2.7 percent, from 2.1 percent.

Meanwhile, commodity groups of clothing and footwear; and information and communication retained its 2022 average inflation rate of 2.2 percent and 0.0 percent, respectively.

(SGD.) AIRENE A. PUCYUTAN 
Provincial Statistics Officer 
PSA Quezon    

NDP/IJCA/EAD