Special Release: Batangas Province's Summary Inflation for July 2022
Release-Date
Reference-Number
2022-039
The Batangas annual headline inflation continued its uptrend as it moved up further to 7.8 percent in July 2022, from 6.8 percent in June 2022. This is the highest recorded inflation since October 2019. With this month’s inflation, Batangas average inflation from January to July 2022 stood at 5.5 percent. In July 2021, inflation rate was lower at 4.5 percent. The main source of the upward trend of the July 2022 inflation was the higher annual growth rate in the index for food and non-alocholic beverages at 8.5 percent from 7.9 percent in the previous month. Housing, water , electricity, gas and other fuels followed with 7.8 percent annual growth from 7.0 percent in June 2022. Also contributing to the uptrend in the overall inflation during the period were the higher annual increments in the indices of the following commodity groups: A. Transport, 19.6 percent, B. Furnishings, household equipment and routine household maintenance, 4.5 percent C. Recreation, sport and culture, 1.6 percent D. Restaurants and accommodation services, 6.0 percent E. Personal care, and miscellaneous goods and services, 2.2 percent On the other hand, the annual mark-up in the indices of alcoholic beverages and tobacco with 10.0 percent, clothing and footwear, 3.2 percent, health, 6.3 percent and information and communication, 0.4 percent was decreased. By food group, the increase in the inflation for corn at 9.8 percent, flour, bread and other bakery products, pasta products and other cereals at 6.5 percent; and meat and other parts of slaughtered land animals at 4.4 percent contributed largely to the acceleration in the food inflation during the month. Also, contributing to the uptrend in the food inflation were: A. Fish and Other Seafood, 15.2 percent B. Milk, Other Dairy Products and Eggs, 6.1 percent C. Oils and Fats, 53.1 percent D. Fruits and Nuts, 7.5 percent E. Sugar, Confectionery and Desserts, 22.4 percent F. Ready-made Food and Other Food Products NEC, 5.8 percent Rice and vegetables, tubers, plantains, cooking bananas and pulses registered lower inflation at 4.0 percent and 21.5 percent, respectively.
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