Ilocos Region

The inflation rate of the Ilocos Region accelerated from 8.2 percent in December 2022 to 9.3 percent in January 2023, an increase of 1.1 percentage point. Similarly, it is higher by 5.9 percentage points from the recorded rate of 3.4 percent in January 2022. (Table A)

The accelerated inflation in Ilocos Region on January 2023
was primarily influenced by the higher inflation of housing, water, electricity, gas and other fuels at 12.0 percent; food and non-alcoholic beverages, 11.7 percent; and alcoholic beverages and tobacco
at 8.6 percent (Table B).

Also contributing to the uptrend in the overall inflation during the period were the higher annual increments in the indices of the following commodity groups as compared with their previous month’s inflation rates:

a.   Routine and household maintenance, 8.2 percent;

b.   Personal care and miscellaneous good, 6.2 percent;

c.   Clothing and footwear; 5.1 percent;

d.   Restaurants and Accommodation Services, 4.7 percent;

e.   Recreation, sport and culture, 3.8 percent; and

f.     Information and communication, 0.9 percent.

On the other hand, annual upticks slowed down in the indices of Transport at 8.6 percent, and clothing and footwear, 6.5 percent. The rest of the commodity groups retained their previous month’s inflation rates or had zero percent annual growths.

As shown in Table C, the food index of Ilocos Region increased by 12.2 percent in January 2023, from the 10.2 percent in the previous month.
In January 2022, the food index posted at 1.8 percent. Furthermore,
the following food groups exhibited higher annual increments during
the month:

a.   Vegetables, tubers, plantains, cooking bananas and pulses, 55.9 percent;

b.   Sugar, confectionery and desserts, 46.1 percent;

c.   Milk, other dairy products and eggs, 13.2 percent;

d.   Fruits and nuts, 10.1 percent;

e.   Flour, Bread And Other Bakery Products, Pasta Products, and Other Cereals, 9.5 percent;

f.     Fish and other seafood, 9.0 percent;

g.   Ready-made food and other food products N.E.C., 6.6 percent;

h.   Cereals, 4.1 percent;

i.     Rice, 4.1 percent; and

j.     Corn, -9.4 percent.

On the other hand, annual decline were exhibited the indices of Oils and fats at 18.7 percent and Meat, and other parts of slaughtered land animals at 4.7 percent.

Provinces

Among the provinces, Ilocos Sur posted the highest inflation rate at 10.3 percent in January, followed by Pangasinan and Ilocos Norte at 10.2 percent, and 7.5 percent, respectively. The lowest inflation rate was registered in La Union at 6.7 percent.