SPECIAL RELEASE Summary Inflation Report of Quezon Consumer Price Index (2018=100), September 2022
Release-Date
Reference-Number
SR STAT 2022 – 035
The headline inflation in Quezon province accelerated to 6.6 percent in September 2022, from 5.5 percent in August 2022. This is the highest inflation posted since January 2019. With this month’s inflation, the average inflation of Quezon province from January to September 2022 stood at 4.5 percent. In September 2021, inflation rate was recorded at 5.7 percent. The acceleration in inflation in the province in September 2022 was primarily due to the higher annual increment noted in the index for housing, water, electricity, gas and other fuels at 12.5 percent, from 8.9 percent in the previous month. This was followed by transport whose index inclined by 30.9 percent year-on-year, from 27.7 percent in August 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 as compared with their previous month’s inflation rates: Food and non-alcoholic beverages at 2.9 percent from 2.4 percent; Alcoholic beverages and tobacco at 7.4 percent from 5.7 percent; Clothing and footwear at 2.4 percent from 2.2 percent; Furnishings, household equipment and routine household maintenance at 2.8 percent from 2.7 percent; Recreation, sport and culture at 2.2 percent from 1.8 percent; Restaurants and accommodation services at 2.5 percent from 1.9 percent; and Personal care, and miscellaneous goods and services at 2.6 percent from 2.5 percent. In contrast, inflation rates decreased in the indices of health at 5.3 percent from 5.6 percent; and education services at 3.0 percent from 8.8 percent. Meanwhile, the commodity groups of information and communication; and financial services retained their previous month’s inflation. Inflation for food in the province rose to 2.9 percent during the month, from 2.4 percent in August 2022. In September 2021, it was higher at 8.7 percent. The acceleration in food inflation was mainly brought about by vegetables, tubers, plantains, cooking bananas and pulses, which declined annually by 7.2 percent. Likewise, annual hikes were faster in the indices of flour, bread and other bakery products, pasta products, and other cereals at 5.7 percent; fish and other seafood at 5.6 percent; fruits and nuts at 2.9 percent; and ready-made food and other food products N.E.C. at 8.5 percent. Moreover, higher inflation in the index of milk, other dairy products and eggs was noted during the month with 2.8 percent annual decline. On the contrary, the following food groups exhibited slower annual growth rates during the month: Rice at 0.2 percent from 0.6 percent; Corn at 9.9 percent from 15.3 percent; Meat and other parts of slaughtered land animals at 2.9 percent from 4.3 percent; Oils and fats at 9.3 percent from 10.9 percent; and Sugar, confectionery and desserts at 35.1 percent from 35.4 percent.
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