La Union’s headline inflation rate decelerated to 3.3 percent in August 2022 from 4.3 percent in the previous month. This brings the province’s average inflation from January to August 2022 at 3.3 percent. Inflation in August a year ago was higher at 3.8 percent. (Table 1 and Figure 1)

The slower pace in the province’s overall inflation in August 2022 was brought about by the lower annual increase in the heavily weighted food and non-alcoholic beverages index at 2.3 percent, from 4.2 percent in the previous month.  Lower annual hikes were also observed in the indices of housing, water, electricity, gas, and other fuels (3.5% from 4.3%); transport (16.1% from 18.6%); and education (-0.4% from 0.0%).

On the contrary, higher annual increments were noted in the indices of alcoholic beverages and tobacco, at 5.1 percent and personal care, and miscellaneous goods and services at 2.6 percent.

Meanwhile, the annual growth remained in the indices of clothing and footwear at 0.7 percent; furnishings, household equipment, and routine household maintenance at 1.0 percent; health at 1.2 percent; recreation, sport and culture at 3.8 percent; and restaurants and accommodation services at 0.6 percent. The annual inflation in the indices of information and communication; and financial services remained at zero growth. 

At the provincial level, food inflation decelerated to 2.2 percent in August 2022 from 4.3 percent in July 2022.  In August 2021, food inflation was recorded at 6.3 percent.

Majority of the food groups exhibited slower annual inflation in August 2022 compared with their annual rates in July 2022. Lower annual inflations were recorded in the indices of cereals and cereal products at -1.0 percent; meat and other parts of slaughtered land animals, at 6.6 percent; fish and other seafood, at 6.2 percent; and vegetables, tubers, cooking bananas and pulses, at -20.2 percent.

On the other hand, higher annual mark-up was noted in the milk, other dairy products, and eggs index at 4.1 percent; fruits and nuts at 4.5 percent; sugar, confectionery and desserts at 34.4 percent; and ready-made food and other food products n.e.c. at 3.8 percent. The annual inflation in the oils and fats index retained at 9.9 percent.

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

MAQ/MMAAA