Headline inflation in La Union slowed down further to 3.7 percent in April 2023, from 4.9 percent in March 2023. In April 2022, the inflation rate was recorded at 4.4 percent.   This brings the average inflation from January to April 2023 to 5.4 percent. (Table A and Figure1)

Among the 13 commodity groups, the deceleration of inflation in La Union in April 2023 was primarily brought about by the slower inflation rate in the transport index at 2.6 percent, from 6.9 percent in March 2023.  Food and non-alcoholic beverages was the second top contributor with an inflation rate of 6.7 percent, from 7.7 percent.  The third primary driver in the slowdown of the headline inflation in April 2023 was housing, water, electricity, gas and other fuels with inflation rate of 2.1 percent, from 3.7 percent.

Moreover, slower annual increments were also recorded in the indices of the following commodity groups:

1. Alcoholic beverages and tobacco, 5.7 percent from 6.4 percent;

2. Clothing and footwear, 4.0 percent from 4.3 percent;

3. Personal care, and miscellaneous goods and services, 3.0 percent from 3.2 percent; and

4. Recreation, sport and culture, 2.6 percent from 2.8 percent.

On the contrary, higher annual gain was observed in the index of furnishings, household equipment and routine household maintenance at 2.5 percent in April 2023 from 2.1 percent in the previous month.

Meanwhile, the annual rates in the indices of the following commodity groups remained at their previous month’s rates:

1. Health, 2.7 percent;

2. Information and Communication, 1.4 percent;

3. Restaurants and accommodation services, 0.1 percent;

4. Education services, -0.4 percent; and

5. Financial services, 0.0 percent.

Similarly, food inflation at the provincial level decelerated further to 7.0 percent in April 2023, from 8.1 percent in March 2023.  In April 2022, food inflation was recorded at 4.1 percent.

Vegetables, tubers, cooking bananas and pulses remained as the primary driver of the lower food inflation in the province at 2.0 percent in April 2023 from 19.8 percent in the previous month.  This was followed by milk, other dairy products, and eggs with an annual growth of 15.0 percent from 16.4 percent.  Oils and fats ranked third, with an inflation rate of 7.7 percent during the month from 13.8 percent in the previous month.

Moreover, lower year-on-year mark-ups during the month were also noted in the indices of the following food groups:

1. Sugar, confectionery and desserts, 34.0 percent from 36.7 percent;

2. Flour, bread and other bakery products, pasta products, and other cereals, 6.5 percent from 6.9 percent; and

3. Ready-made food and other food products not elsewhere classified (n.e.c), 5.3 percent from 5.8 percent.

On the contrary, compared with their previous month’s inflation rates, higher annual growth rates were observed in the indices of the following food groups in April 2023:

1. Fish and other seafood, 14.1 percent from 11.3 percent;

2. Fruits and nuts, 8.5 percent from 7.1 percent; and

3. Meat and other parts of slaughtered land animals, 2.4 percent from 2.0 percent.

The index of rice remained at its previous month’s inflation of 2.0 percent while the index of corn had zero growth for four consecutive months.

SGD. DANITES E. TEÑIDO, Ph.D.
Chief Statistical Specialist

/MMAAA