Release Date :
Reference Number :
2022-006
Pangasinan
lnflation rate in the Philippines soared to 7.7 percent in October 2022 from 6.9 percent in September. This leads to the country's average inflation rate of 5.4 percent. lnflation rate of the country in October 2021 was posted at 4.0 percent (see Table A).
Similarly, llocos Region recorded an upsurge in the inflation rate at 7.4 percent in October 2022, which was higher than that in September at 6.6 percent. This leads to the region's average inflation rate of 5.5 percent. lnflation rate of the region in October 2021 was posted at 4.6 percent (see Table A).
Headline inflation rate in Pangasinan rocketed to 7.5 percent in October 2022 from 6.4 percent in September (see Figure 1). This is the highest recorded inflation since January 2019. This leads to the province's average inflation rate of 5.2 percent. lnflation rate in the province in October 2021 was posted at 4.5 percent (see Table B).
The province's inflation rate in October 2022was mainly brought about by the highest increased inflation rate in the index for Food and Non-Alcoholic Beverages a|7.2 perent from 4.6 percent in September (see Table C). Also contributing to the towering inflation rate of the province during the month were the increased inflation rates in the following
commodities:
a. Housing, Water, Electricity, Gas, and Other Fuels, 13.6;
b. Furnishings, Household Equipment, and Routine Household Maintenance, 6.4 percent;
c. Personal Care, Miscellaneous Goods and Services, 6.1 percent;
d. Clothing and Footwear, 3.6 percent; and
e. Recreation, Sports, and Culture, 3.5 percent.
On the other hand, inflation rate of Pangasinan in October 2022was also brought about by the decline in the indices of the following commodities:
a. Transport, 8.7 percent;
b. Alcoholic Beverages and Tobacco, 7.2 percent; and
c. lnformation and Communication, 1.3 percent.
Meanwhile, the rest of the commodities (i.e., Health, Educational Services, Restaurants and Accommodation Services, and Financial Services) retained their previous month's inflation rates.
Specifically, inflation rate of Food and Non-Alcoholic Beverages in October 2022 was reported at 7.2 percent, which was higher from 4.6 percent in September. lnflation rate of this commodity group was lower at 5.2 percent in October 2021 (see Table D).
The increased inflation for vegetables, tubers, and others at 18.4 percent predominantly influenced the higher food inflation in October 2022. Meanwhile, fast annual growth rates were also observed in the following food groups:
a. Sugar, Confectionery, and Desserts, 40.9 percent;
b. Oils and Fats,24.3 percent;
c. Flour, Bread, Pasta, etc., 9.9 percent;
d. Milk, Other Dairy Products, Eggs,6.2 percent,
e. Ready-made food and other food products, 5.3 percent;
f. Corn, 5.2 percent;
g. Fish and Other Seafood, 3.6 percent; and
h. Fruits and Nuts, -7.8 percent;
Finally, food groups of meat of slaughtered land animals and corn exhibited decreasing inflation at 5.1 and -13.4 percent, respectively.
SGD. EDGAR M. NORBERTE
Chief Statistical Specialist
Chief Statistical Specialist
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