La Union’s headline inflation rate accelerated to 4.0 percent in October 2022 from 3.8 percent in the previous month. This brings the province’s average inflation from January to October 2022 at 3.5 percent.  Inflation in October a year ago was lower at 3.6 percent. (Table 1 and Figure 1)

The faster pace in the province’s overall inflation in October 2022 was brought about by the higher annual increase in the heavily weighted food and non-alcoholic beverages index at 4.8 percent, from 3.5 percent in the previous month.  Higher annual hikes were also observed in the indices of furnishings, household equipment, and routine household maintenance (1.3% from 1.0%); health (1.3% from 1.2%); and personal care, and miscellaneous goods and services (2.7% from 2.6%).

On the contrary, lower annual increments were noted in the indices of alcoholic beverages and tobacco, (4.6% from 4.8%); housing, water, electricity, gas and other fuels,(1.9% from 2.5%); transport (15.7% from 19.7%) and recreation, sports and culture (3.9% from 4.2%).

Meanwhile, the annual inflation remained in the indices of clothing and footwear at 0.7 percent; education services, at -0.4 percent; and restaurants and accommodation services at 0.4 percent. The annual inflation in the indices of information and communication and financial services remained at zero growth. 

At the provincial level, food inflation accelerated to 4.9 percent in October 2022 from 3.5 percent in September 2022.  In October 2021, food inflation was recorded at 4.4 percent.

Majority of the food groups exhibited higher annual inflation in October 2022 compared with their annual rates in September 2022. Higher annual inflations were recorded in the indices of cereals and cereal products at -1.7 percent; fish and other seafood, at 5.8 percent; milk, other dairy products, and eggs, at 8.2 percent; vegetables, tubers, cooking bananas and pulses, at 3.9 percent; sugar, confectionary and desserts at 42.4 percent; and ready-made food and other food products not elsewhere classified, at 5.2 percent.

On the other hand, lower annual inflation were noted in the meat and other parts of slaughtered land animals at 7.7 percent; oils and fats, at 11.5 percent; and fruits and nuts, at 1.2 percent.

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

/MAQ/MMAAA