Summary Inflation Report Consumer Price Index (2018=100) Region IV-A (CALABARZON) May 2023
Release-Date
Reference-Number
2023-0400-SR09
Table A. Year-on-Year Inflation Rates in CALABARZON by Province and HUC, All Items In Percent (2018=100) Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority *Year-on-year change of average Consumer Price Index (CPI) for January to May 2023 vs. 2022 same period Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority The monthly headline inflation rate in CALABARZON has been decreasing this year, dropping from 8.5 percent in January to 6.2 percent in April. Additionally, the inflation rate in May 2022 was lower at 5.1 percent (as shown in Figure 1). The year-on-year change in the average CPI for the first five months of the year was 7.3 percent (refer to Table A). Table B. Year-on-Year Changes of the Consumer Price Index in Percent in Region IV-A (CALABARZON), by Commodity Group: Apr – May 2023 In Percent (2018=100) 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 transport at 1.4 percent, compared to 3.7 percent in April. 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 7.6 percent; Alcoholic beverages and tobacco at 12.8 percent; Furnishings, household equipment and routine household maintenance at 4.9 percent; Information and communication at 0.0 percent; and Recreation, sport, and culture at 4.0 percent. Meanwhile, higher annual increments were observed in the indices of the following commodity groups as compared to their previous month’s inflation rates: Clothing and footwear at 4.6 percent; Housing, electricity, gas and other fuels at 7.5 percent; and Restaurants and accommodation services at 7.4 percent. The rest of the commodity groups retained their previous month’s inflation rates. (Table B) Table C. Year-on-Year Inflation Rates of Food Items in Region IVA (CALABARZON) (2018=100) 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 May 2023, with 7.6 percent inflation compared to its previous month’s record of 8.0 percent but it is still higher than April 2022 inflation rate at 4.3 percent (Table C). The inflation rate of the meat and other parts of slaughtered land animals index went down to 2.5 percent during the month, from 4.0 percent in the previous month. Moreover, food groups that exhibited lower annual increments during the month are the following: cereals and cereal products at 6.4 percent; fish and other seafood at 7.2 percent; milk, other dairy products and eggs at 12.4 percent; oils and fats at -0.1 percent; fruits and nuts at 13.5 percent; sugar, confectionery and desserts at 30.1 percent; and ready-made food and other food products n.e.c. at 8.5 percent. Meanwhile, the inflation rate of the vegetables, tubers, plantains, cooking bananas and pulses index went up to 13.5 percent during the month, from 5.5 percent in the previous month. Rice index decelerated at 3.6 percent during the month while the corn index had higher annual uptick at 21.5 percent (Table C). CHARITO C. ARMONIA Regional Director BFP /JAS
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