SPECIAL RELEASE: Summary Inflation Report of Quezon Province Consumer Price Index (2018=100) June 2023
Release-Date
Reference-Number
2023 – 129
The headline inflation in Quezon province continued to move at a slower pace of 4.0 percent in June 2023, from 5.1 percent in May 2023. The deceleration in the headline inflation across the province was noted for the fourth consecutive month and the lowest in the past 14 months. Moreover, the inflation in June 2023 was lower compared to June 2022 inflation which was recorded at 5.3 percent. The average inflation for the first semester of 2023 of Quezon province stood at 6.4 percent. The slowdown in inflation in the province was primarily influenced by the slower annual increase in the heavily-weighted food and non-alcoholic beverages at 2.9 percent in June 2023, from 4.6 percent in the previous month. This was followed by transport at 7.3 percent, from 11.3 percent. Alcoholic beverages and tobacco was the third main source of deceleration of the inflation in June 2023 with 7.5 percent annual growth rate from 9.6 percent in May 2023. 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.Housing, water, electricity, gas and other fuels at 5.1 percent, from 5.4 percent; b.Furnishings, household equipment and routine household maintenance at 1.9 percent, from 2.0 percent; c.Health at 5.0 percent, from 5.5 percent; d.Recreation, sport and culture at 1.8 percent, from 2.0 percent; and e.Personal care, and miscellaneous goods and services at 2.9 percent, from 3.2 percent. Meanwhile, the following commodity groups retained their previous month’s inflation: a.Clothing and footwear at 2.3 percent; b.Information and communication at 0.0 percent; c.Education services at 3.0 percent; d.Restaurants and accommodation services at 5.2 percent; and e.Financial services at 0.0 percent. Inflation for food in the province decreased to 2.9 percent during the month, from 4.7 percent in May 2023. In June 2022, food inflation stood at 3.2 percent. The deceleration in food inflation in June 2023 was primarily due to the lower annual increment in the index of fish and other seafood at 0.9 percent, from 6.4 percent in May 2023. This was followed by fruits and nuts at 5.4 percent, from 13.2 percent; and meat and other parts of slaughtered land animals at -2.2 percent, from -0.8 percent. Lower inflation rates during the month were also noted in the indices of the following food items: a.Corn at 2.1 percent, from 13.4 percent; b.Flour, bread and other bakery products, pasta products, and other cereals at 4.6 percent, from 5.7 percent; c.Milk, other dairy products and eggs at 5.1 percent, from 5.2 percent; d.Vegetables, tubers, plantains, cooking bananas and pulses at 9.5 percent, from 10.7 percent; e.Sugar, confectionery and desserts at 38.4 percent, from 41.1 percent; and f.Ready-made food and other food products not elsewhere classified at 5.6 percent, from 6.3 percent. In contrast, following food groups posted higher inflation rates during the month: a.Rice at 0.4 percent, from 0.2 percent; and b.Oils and fats at -4.0 percent, from -4.9 percent. (SGD.) AIRENE A. PUCYUTAN Provincial Statistics Officer PSA Quezon NDP/MZR/EAD
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