SPECIAL RELEASE: Summary Inflation Report of Lucena City Consumer Price Index (2018=100) May 2023
Release-Date
Reference-Number
2023 – 114
The headline inflation in Lucena City continued its decrease as it moved down further to 5.2 percent in May 2023, from 5.5 percent in April 2023. The headline inflation in the city had a third consecutive month of deceleration. Despite the decline, inflation rate in May 2022 was still lower at 4.2 percent. The average inflation rate in Lucena City for the first five months of the year stood at 6.5 percent. The downtrend in the inflation rate of Lucena City in May 2023 was primarily due to the lower inflation rate in housing, water, electricity, gas and other fuels at 5.2 percent, from 6.9 percent in April 2023. This was followed by transport at 10.2 percent, from 14.2 percent. Also contributing to the downtrend in the overall inflation during the period were the lower annual increments in the indices of the following commodity groups: a.Alcoholic beverages and tobacco at 9.3 percent, from 9.4 percent; b.Furnishings, household equipment and routine household maintenance at 1.3 percent, from 1.5 percent; and c.Personal care, and miscellaneous goods and services at 3.8 percent, from 4.0 percent. In contrast, among the 13 commodity groups, higher inflation rates during the month were observed in the indices of food and non-alcoholic beverages at 3.5 percent, from 2.7percent; and clothing and footwear at 2.4 percent, from 2.3 percent. Meanwhile, the following commodity groups retained their previous month’s inflation: a.Health at 4.0 percent; b.Information and communication at 0.0 percent; c.Recreation, sport and culture at 2.9 percent; d.Education services at 4.1 percent; e.Restaurants and accommodation services at 9.4 percent; and f.Financial services at 0.0 percent. Inflation for food in Lucena City increased to 3.6 percent during the month, from 2.6 percent in April 2023. In May 2022, it stood at 1.8 percent. The acceleration in food inflation was primarily due to the higher annual increment in the index of fish and other seafood recording an inflation rate of 3.7 percent, from -3.5 percent in April 2023. This was followed by vegetables, tubers, plantains, cooking bananas and pulses at 6.0 percent, from -2.7 percent; and rice at 0.4 percent, from 0.0 percent. In contrast, the following food groups exhibited declines in the annual growth rate: a.Corn at 4.7 percent, from 13.3 percent; b.Meat and other parts of slaughtered land animals at -1.0 percent, from 0.6 percent; c.Milk, and other dairy products and eggs at 4.8, from 7.1 percent; d.Oils and fats at -1.6 percent, from -1.1 percent; e.Fruits and nuts at 19.2 percent, from 25.6 percent; and f.Ready-made food and other food products not elsewhere classified at 5.8 percent, from 6.4 percent. Meanwhile, inflation of food groups of flour, bread and other bakery products, pasta products, and other cereals; and sugar, confectionery and desserts retained their previous month’s inflation at 3.9 percent and 33.8 percent, respectively. (SGD.) AIRENE A. PUCYUTAN Provincial Statistics Officer PSA Quezon NDP/MZR/EAD
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