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Release Date :
Reference Number :
2022-003

Pangasinan

The inflation rate in the Philippines soared to 6.4 percent in July 2022 from 6.1 percent in June. However, Ilocos Region recorded a decrease in the inflation rate at 6.3 percent in July 2022, which was lower than that in June at 6.5 percent.

The headline inflation rate in Pangasinan eased to 6.0 percent in July 2022, from all-year-high 6.5 percent in June (see Figure 1). Inflation rate in July 2021 was lower at 4.2 percent. The average inflation rate for the first six months of the year in the province was reported at 4.5 percent (see Table A).

The drop in the province’s inflation rate was mainly brought about by the highest annual decrease in the index for Transport at 18.7 percent (see Table C). Also contributing to the downtrend in the overall inflation rate of the province during the month were:

a.   Housing, Water, Electricity, Gas, and other Fuels, 7.3 percent;

b.   Alcoholic Beverages and Tobacco, 6.2 percent;

c.   Furnishings and Household Maintenance, 4.9 percent;

d.   Recreation and Sports, 4.0 percent;

e.   Personal Care, Miscellaneous Goods and Services, 4.0 percent;

f.     Clothing and Footwear, 3.3 percent;

g.   Information and Communication, 0.7 percent; and

h.   Restaurants and Accommodation Services, 0.7 percent;

Meanwhile, the inflation rate of Pangasinan in July 2022 was also brought about by the rise in the index of Health at 4.0 percent. 

The following commodity groups either retained their previous month’s inflation or had zero percent annual growths:

a.   Food and Non-Alcoholic Beverages, 6.1 percent;

b.   Education Services, 0.0 percent; and

c.   Financial Services, 0.0 percent.

Specifically, the transport index in July 2022 was reported at 18.7 percent, which was 1.7 percent lower from 20.4 percent in June. Inflation rate in the Transport commodity group was lower at 7.0 percent in July 2021 (see Table D).

The transport commodity group declined primarily due to a decreased inflation rate in fuels and lubricants for personal transport equipment at 57.0 percent in July 2022. Meanwhile, the inflation rate on passenger transport by air soared to 23.9 percent in the same month. The rest of the items of transport commodity retained their previous month’s inflation rates (i.e., motorcycles, bicycles, parts and accessories, passenger transport by road, maintenance and repair, and other services).

 

Note: CPIs and inflation rates by province are posted at the PSA website (https://openstat.psa.gov.ph/).

 

 

SGD. EDGAR M. NORBERTE

Chief Statistical Specialist