The headline inflation in Quezon province continued its downtrend as it moved down further to -0.4 percent in January 2024. This is the lowest inflation rate since the -0.6 percent inflation rate recorded in September 2019. Inflation rate was recorded at 1.5 percent in December 2023, while it was at 8.0 percent in January 2023. 

The continued downtrend in the inflation was primarily influenced by the faster annual decrease in food and non-alcoholic beverages at 4.1 percent in January 2023, from 0.6 percent in the previous month. This was followed by alcoholic beverages and tobacco at 7.2 percent, from 9.1 percent.  

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 to their previous month’s inflation rates: 
a. Clothing and footwear at 1.4 percent, from 2.2 percent; 
b. Furnishings, household equipment and routine household maintenance at 1.2 percent, from 1.3 percent; 
c. Health at 1.4 percent, from 2.7 percent; 
d. Transport at 0.1 percent, from 0.3 percent; 
e. Financial services at -0.1 percent, from 0.0 percent; and 
f. Personal care, and miscellaneous goods and services at 2.8 percent, from 2.9 percent

In contrast, only the index of housing, water, electricity, gas and other fuels exhibited a faster year-on-year increase at 0.3 percent, from -1.1 percent. 
Meanwhile, the following commodity groups retained their previous month’s inflation: 
a. Information and communication at 0.0 percent; 
b. Recreation, sport and culture at 3.8 percent; 
c. Education services at 5.8 percent; and 
d. Restaurants and accommodation services at 5.5 percent.

Food index in the province recorded a faster annual decrease of 4.6 percent during the month, from 0.4 percent in December 2023. In January 2023, food inflation was higher at 9.1 percent.

The deceleration in food inflation was mainly brought about by the faster year-on-year decline in the index of vegetables, tubers, plantains, cooking bananas and pulses at 37.0 percent in January 2024, from -14.1 percent annual decrease in the previous month. Fish and other seafood also contributed to the downtrend with an annual decrease of 3.6 percent, from 3.9 percent annual increase in December 2023. In addition, annual decline was noted in the index of meat and other parts of slaughtered land animals at 5.7 percent in January 2024, from 4.5 percent annual decrement in the previous month.

Moreover, lower inflation rates during the month were recorded on the following food items: 
a. Rice at 7.8 percent, from 8.3 percent; 
b. Flour, bread and other bakery products, pasta products, and other cereals at 3.5 percent, from 4.2 percent; 
c. Milk, other dairy products, and eggs at 0.8 percent, from 4.4 percent; and 
d. Ready-made food and other food products not elsewhere classified at 4.0 percent, from 4.1 percent.

In contrast, the inflation of the following food groups increased during the month: 
a. Corn at -1.4 percent, from -9.2 percent; 
b. Oils and fats at -9.7 percent, from -11.6 percent; 
c. Fruits and nuts at 5.4 percent, from 2.8 percent; and 
d. Sugar, confectionery and desserts at -4.5 percent, from -6.4 percent.

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

NDP/IJCA/EAD