This report presents the Inflation Rate (IR), Consumer Price Index (CPI), and Purchasing Power of Peso (PPP) for all income households in the province of Cavite during the month of April 2023. Inflation Rate (IR) is the annual rate of change of change or the year-on-year change of the CPI expressed in percent. Inflation is interpreted in terms of the declining purchasing power of money. Headline inflation in the Province of Cavite dropped at 6.6 percent for the month of April 2023. It is lower by 0.5 percent compared to March 2023 but higher by 3 percent versus to the inflation rate last April 2022 (see Table 1 and Figure 1). The deceleration in the province’s inflation rate in April 2023 was primarily due to the slower annual growth rate in the index for Transport commodity group at 1.7% inflation and also contributing to the downtrend in the overall inflation for month of April 2023 was Housing, Water, Electricity, Gas and Other Fuels at 9.6 %. On the other hand, five (5) commodity groups showed a higher annual increment in the indices compared to last month’s inflation: Alcoholic Beverages and Tobacco, 16.2 percent Food and Non-Alcoholic Beverages, 8.8 percent Clothing and Foot Wear, 8.1 percent Recreation, Sport and Culture, 8.0 percent Furnishing, Household Equipment and Routine Household Maintenance, 6.6 percent Meanwhile, Personal Care and Miscellaneous Goods and Services (5.5 percent), Health (2.2 percent), Restaurant and Accommodation Services (1.3 percent), Education Services (1.2 percent), Information and Communication (-.07 percent) and Financial Services (0.0 percent) were stable this month. For food inflation, an increase of 0.1 percent was observed for the month of April 2023, with 8.8 percent inflation compared to its previous month’s record of 8.7 percent (Table 3). The annual growth rate of Vegetables, tubers, plantains, cooking bananas, and pulses went down to 1.7 percent during month of April 2023, from 12.1 percent last March 2023. In addition, food groups exhibited lower annual increments during the month are the following: Milk, other dairy products and eggs, 14.6 percent Oils and fats, 5.2 percent Meanwhile, the following food groups showed higher annual increment for the month: Cereals and cereal products, 7.5 percent Cereals, 2.8 percent Rice, 2.5 percent Corn, 30.8 percent Fish and other seafood, 14.7 percent Fruits and nuts, 13.0 percent Sugar, confectionary and desserts, 27.9 percent Ready-made food and other food products n.e.c., 7.7 percent
Of the estimated 12.07 million population 15 years old and over in CALABARZON, about 64.8 percent or 7.82 million are considered persons in the labor force (See summary statistics). It means that…
