Release Date :
Reference Number :
2022-004
Pangasinan
The inflation rate in the Philippines eased to 6.3 percent in August 2022 from 6.4 percent in July. Similarly, Ilocos Region recorded a decrease in the inflation rate at 6.2 percent in August 2022, which was lower than that in July at 6.3 percent.
The headline inflation rate in Pangasinan escalated to 6.5 percent in August 2022 from 6.0 percent in July (see Figure 1). Similar to that in June of the same year, this was the highest inflation since 2019. Inflation rate in August 2021 was lower at 4.6 percent. The average inflation rate for the first eight months of the year in the province was reported at 4.8 percent (see Table A).
The upsurge in the province's inflation rate was mainly brought about by the highest increase in the index for Housing, Water, Electricity, Gas, and Other Fuels a111.7 percent (see Table C). Also contributing to the uptrend in the overall inflation rate of the province during the month were:
a. Alcoholic Beverages and Tobacco, 7.9 percent;
b. Personal Care, Miscellaneous Goods, and Services, 5.5 percent;
c. Furnishings and Household Maintenance, 5.4 percent;
d. Health,4.1 percent;
e. Recreation and Sports,4.1 percent;
f. Restaurants and Accommodation Services, 2.4 percent;
g. Education Services, 1.3 percent; and
h. Information and Communication, 0.7 percent.
Meanwhile, the inflation rate of Pangasinan in July 2022 was also brought about by the decline in the indices of the following commodities:
a. Transport, 13.6 percent;
b. Food and Non-Alcoholic Beverages, 5.3 percent; and
c. Clothing and Footwear at 3.0 percent.
The commodity of Financial Services retained its previous month's inflation at 0.0 percent.
Specifically, the inflation rate of Housing, Water, Electricity, Gas, and Other Fuels in August 2020 was reported at 11.4 percent, which was 4.1 percent higher from 7.3 percent in July. Inflation rate of this commodity group was lower at 3.8 percent in August 2021 (see Table D).
The commodity group of Housing, Water, Electricity, Gas, and Other Fuels significantly contributed to the province's inflation rate due to the increase in electricity at 38.4 percent in August 2022 from 20.5 percent in July. Similarly, the materials for maintenance and repair of dwellings and the water supply through network systems soared to 6.5 percent and 4.4 percent in the same month, respectively. Meanwhile, the inflation rates on liquid fuels, liquefied hydrocarbons, and services for maintenance of dwellings declined to 54.9 percent, 5.9 percent, and 0.0 percent, respectively. The rest of the items of retained their previous month's inflation rates (i.e., actual rentals paid by tenants for main residence and charcoal).
EDGAR M. NORBERTE
Chief Statistical Specialist, PSO Pangasinan
