CALABARZON Summary Inflation Report Consumer Price Index (2018=100) for March 2023
Release-Date
Reference-Number
2023-0400-SR06
Table A. Year-on-Year Inflation Rates in CALABARZON by Province and HUC, All Items In Percent (2018=100) Area Mar 2022 Feb 2023 Mar 2023 Year-to-date* Philippines 4.0 8.6 7.6 8.3 CALABARZON 3.8 8.2 7.2 8.0 Batangas 5.3 9.3 7.8 9.2 Cavite 2.7 8.4 7.1 8.1 Laguna 2.9 5.9 5.2 5.7 Quezon 3.3 8.5 7.5 8.0 Rizal 5.4 9.4 8.8 9.3 Lucena City 3.4 8.2 7.0 7.2 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 March 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 7.2 percent in March 2023, from 8.2 percent in February 2023. In March 2022, inflation was lower at 3.8 percent (Figure 1). The average inflation rate (IR) for the first three months of the year stood at 8.0 percent (Table A). Table B. Year-on-Year Changes of the Consumer Price Index in Percent in Region IV-A (CALABARZON), by Commodity Group: Feb – Mar 2023 In Percent (2018=100) Commodity Group Feb 2023 Mar 2023 ALL ITEMS 8.2 7.2 Food and Non-Alcoholic Beverages 11.2 8.8 Alcoholic Beverages and Tobacco 11.8 12.7 Clothing and Footwear 4.5 4.3 Housing, Water, Electricity, Gas, and Other Fuels 8.9 8.7 Furnishing, Household Equipment and Routine Household Maintenance 4.7 4.9 Health 3.7 4.0 Transport 8.7 5.7 Information and Communication 0.1 0.1 Recreation, Sport and Culture 4.1 4.0 Education Services 1.3 1.3 Restaurants and Accommodation Services 5.4 6.0 Financial Services 0.0 0.0 Personal Care, and Miscellaneous Goods and Services 4.9 5.2 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 prices of food and non-alcoholic beverages at 8.8 percent, compared to 11.2 percent in February. Also contributing to the downtrend in the overall inflation during the period were the lower annual increments in the indices of the following: Transport at 5.7 percent; Housing, water, electricity, gas and other fuels at 8.7 percent; Clothing and footwear at 4.3 percent; and Recreation, sport and culture at 4.0 percent. Meanwhile, higher annual increments was observed in the indices of the following commodity groups as compared to their previous month’s inflation rates: Alcoholic beverages and tobacco at 12.7 percent; Furnishings, household equipment and routine household maintenance at 4.9 percent; Health at 4.0 percent; Restaurants and accommodation services at 6.0 percent; and Personal care, and miscellaneous goods and services at 5.2 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 Mar 2022 Feb 2023 Mar 2023 FOOD AND NON-ALCOHOLIC BEVERAGES 1.2 11.2 8.8 Food 1.1 11.7 9.0 Cereals and Cereal Products 2.2 6.0 6.2 Cereals 1.2 3.0 3.3 Rice 1.1 2.8 3.2 Corn 5.3 17.2 17.9 Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals 4.3 11.6 11.8 Meat and Other Parts of Slaughtered Land Animals -1.6 6.4 4.0 Fish and Other Seafood 5.2 10.2 9.0 Milk, Other Dairy Products, and Eggs 0.1 13.2 13.9 Oils and Fats 13.6 11.7 8.2 Fruits and Nuts -4.5 9.5 12.1 Vegetables, Tubers, Plantains, Cooking Bananas and Pulses -2.9 43.6 17.8 Sugar, Confectionery and Desserts 5.2 33.3 33.0 Ready-Made Food and Other Food Products N.E.C. 3.5 7.8 8.5 Non-Alcoholic Beverages 1.8 7.2 7.7 Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority For food inflation, it decreased by 2.7 percent index points in March 2023, with 9.0 percent inflation compared to its previous month’s record of 11.7 percent but it is still higher than in March 2022 with inflation rate recorded at 1.1 percent (Table C). The inflation rate of the vegetables, tubers, plantains, cooking bananas and pulses index went down to 17.8 percent during the month, from 43.6 percent in the previous month. Moreover, food groups that exhibited lower annual increments during the month are the following: meat and other parts of slaughtered land animals at 4.0 percent; fish and other seafood at 9.0 percent; oils and fats at 8.2 percent; and sugar, confectionery and desserts at 33.0 percent. Meanwhile, food groups that registered acceleration in prices are the following: cereals and cereal products at 6.2 percent; milk, other dairy products and eggs at 13.9 percent; fruits and nuts at 12.1 percent; and ready-made food and other food products n.e.c. at 8.5 percent. Rice and corn indices had higher annual uptick at 3.2 percent and 17.9 percent, respectively (Table C). (sgd.) CHARITO C. ARMONIA Regional Director BFP/COB/JAS
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The headline inflation in CALABARZON slowed down to 7.2 percent in March 2023, from 8.2 percent in February 2023. In March 2022, inflation was lower at 3.8 percent (Figure 1). The average inflation…
