CALABARZON Summary Inflation Report Consumer Price Index (2018=100) for February 2023
Release-Date
Reference-Number
2023-0400-SR05
Table A. Year-on-Year Inflation Rates in CALABARZON, All Items In Percent (2018=100) Area Feb 2022 Jan 2023 Feb 2023 Year-to-date* Philippines 3.0 8.7 8.6 8.6 CALABARZON 2.6 8.5 8.2 8.4 Batangas 3.8 10.4 9.3 9.9 Cavite 1.7 8.8 8.4 8.6 Laguna 1.5 6.1 5.9 6.0 Quezon 2.8 8.0 8.5 8.3 Rizal 4.5 9.7 9.4 9.6 Lucena City 2.7 6.4 8.2 7.3 Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority *Year-on-year change of average CPI for January to February, 2023 vs. 2022 Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority The headline inflation in CALABARZON slowed down to 8.2 percent in February 2023, from 8.5 percent in January 2023. In February 2022, inflation was lower at 2.6 percent. The average inflation rate for the first two months of the year stood at 8.4 percent. (Table A and Figure 1) Table B. Year-on-Year Changes of the Consumer Price Index in Percent in Region IVA (CALABARZON) by Commodity Group: Jan – Feb 2023 In Percent (2018=100) Commodity Group Jan 2023 Feb 2023 ALL ITEMS 8.5 8.2 Food and Non-Alcoholic Beverages 11.6 11.2 Alcoholic Beverages and Tobacco 11.7 11.8 Clothing and Footwear 4.0 4.5 Housing, Water, Electricity, Gas, and Other Fuels 8.7 8.9 Furnishing, Household Equipment and Routine Household Maintenance 4.4 4.7 Health 2.9 3.7 Transport 10.7 8.7 Information and Communication 0.2 0.1 Recreation, Sport and Culture 3.6 4.1 Education Services 1.3 1.3 Restaurants and Accommodation Services 5.6 5.4 Financial Services 0.0 0.0 Personal Care, and Miscellaneous Goods and Services 4.9 4.9 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 the index for transport at 8.7 percent. Also contributing to the downtrend in the overall inflation during the period were the lower annual increments in the indices of the following: food and non-alcoholic beverages at 11.2 percent; restaurants and accommodation services at 5.4 percent; and information and communication at 0.1 percent; Meanwhile, annual upticks increased in the indices of the following commodity groups as compared to their previous month’s inflation rates: alcoholic beverages and tobacco at 11.8 percent; clothing and footwear at 4.5 percent; housing, water, electricity, gas and other fuels at 8.9 percent; furnishings, household equipment and routine household maintenance at 4.7 percent; health at 3.7 percent; and recreation, sport and culture at 4.1 percent. The rest of the commodity groups either retained their previous month’s inflation rates or had zero percent annual growths. (Table B) Table C. Year-on-Year Inflation Rates of Food Items in Region IVA (CALABARZON) (2018=100) Commodity Group Feb 2022 Jan 2023 Feb 2023 FOOD AND NON-ALCOHOLIC BEVERAGES -1.1 11.6 11.2 Food -1.4 12.1 11.7 Cereals and Cereal Products 1.9 5.8 6.0 Cereals 1.0 3.0 3.0 Rice 1.0 2.8 2.8 Corn 1.1 16.8 17.2 Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals 3.7 11.3 11.6 Meat and Other Parts of Slaughtered Land Animals -3.7 6.5 6.4 Fish and Other Seafood 1.0 6.6 10.2 Milk, Other Dairy Products, and Eggs -0.3 11.1 13.2 Oils and Fats 17.8 14.2 11.7 Fruits and Nuts -4.2 9.1 9.5 Vegetables, Tubers, Cooking Bananas and Pulses -16.5 51.3 43.6 Sugar, Confectionery and Desserts 5.1 34.8 33.3 Ready-Made Food and Other Food Products N.E.C. 3.1 8.0 7.8 Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority For food inflation, it decreased by 0.4 percent index point in February 2023, with 11.7 percent inflation compared to its previous month’s record of 12.1 percent. In February 2022, food inflation was lower compared to this year’s inflation, recorded at -1.4 percent. (Table C) The annual growth rate of the vegetables, tubers, plantains, cooking bananas and pulses index went down to 43.6 percent during the month, from 51.3 percent in the previous month. Moreover, food groups that exhibited higher annual increments during the month are the following: meat and other parts of slaughtered land animals at 6.4 percent; oils and fats at 11.7 percent; sugar, confectionery and desserts at 33.3 percent; and ready-made food and other food products n.e.c. at 7.8 percent. Meanwhile, food groups that registered acceleration in prices are the following: cereals and cereal products at 6.0 percent; fish and other seafood at 10.2 percent; milk, other dairy products and eggs at 13.2 percent; and fruits and nuts at 9.5 percent. Corn index had higher annual uptick at 17.2 percent while rice index retained its previous month’s inflation rate at 2.8 percent. (Table C) (sgd.) CHARITO C. ARMONIA Regional Director BFP/COB/LOM/JAS
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