Summary Inflation Report Consumer Price Index (2018=100) Region IV-A (CALABARZON): August 2023 | Philippine Statistics Authority CALABARZON

Release-Date

Thursday, September 7, 2023

Reference-Number

2023-0400-SR13

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 August 2023 vs. 2022 same period All provinces registered faster inflation rates in August 2023 from July 2023. The year-on-year change in the average CPI of the region for the first eight months of the year was 6.5 percent (refer to Table A). Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority After the continuous deceleration since January 2023, the headline inflation rate in CALABARZON recorded an acceleration in August 2023 with 5.5 percent from 4.7 percent in July 2023. Additionally, this month’s inflation rate was higher than the recorded inflation rate in August 2022 at 5.1 percent (as shown in Figure 1). Table B. Year-on-Year Changes of the Consumer Price Index in Percent in Region IV-A (CALABARZON), by Commodity Group: July – August 2023 In Percent (2018=100) The increase in the region’s inflation was mainly brought about by the higher annual increase in prices of food and non-alcoholic beverages at 8.0 percent, compared to 6.3 percent in July. Also contributing to the uptrend in the overall inflation during the period were the higher annual increments in the indices of the following: Transport at 0.5 percent; Recreation, sport and culture at 4.6 percent; and Information and communication at 0.3 percent. In contrast, lower annual increment was observed in the indices of the following: Alcoholic beverages and tobacco at 11.5 percent; Housing, water, electricity, gas and other fuels at 5.0 percent; Furnishings, household equipment and routine household maintenance at 4.1 percent; Health at 3.2 percent; Education services at 0.7 percent; and Personal care, and miscellaneous goods and services at 5.1 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 increased by 2.0 percent index points in August 2023, with 8.2 percent inflation compared to its previous month’s record of 6.2 percent. Moreover, it is higher compared to the food inflation recorded in August 2022 at 4.3 percent (Table C). The top source of acceleration of food group is the vegetables, tubers, plantains, cooking bananas and pulses with 39.4 percent from 24.7 percent in July 2023. Moreover, food groups that exhibited higher annual increments during the month are the following: Cereals and cereal products at 8.0 percent; Fish and other seafood at 8.3 percent; and Fruits and nuts at 7.1 percent. In contrast, negative inflation was observed in the indices of meat and other parts of slaughtered land animals and oils and fats at -1.2 percent and -8.1 percent, respectively. Furthermore, deceleration of inflation rate was observed in the following food groups: milk, other dairy products and eggs at 9.5 percent; sugar, confectionery and desserts at 14.6 percent; and ready-made food and other food products n.e.c. at 7.3 percent. Rice index accelerated at 7.0 percent during the month while the corn index had lower annual uptick at 13.1 percent (Table C). (SGD.) CHARITO C. ARMONIA Regional Director

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