llocos Region
The inflation rate of the llocos Region decreased from 3.7 percent
in October 2023 to 2.9 percent in November 2023,
lower by 0.8 percentage point. Likewise, it is lower
by 4.8 percentage points from the rate of 7.7 percent in November 2022.

The lower inflation in llocos Region in November 2023 was primarily influenced by the considerable decrease in the indices of the following commodity groups:

a. Food and non-alcoholic beverages,7.2 percent;
b. Alcoholic beverages and tobacco, T .4 percent;
c. Clothing and footwear,4.2 percent;
d. Furnishings, household equipment and routine household
maintenance, 6.6 percent;
e. Health, 2.9 percent;
f. Transport, -1.3 percent;
g. Recreation, sport and culture,2.3 percent;
h. Restaurants and accommodation services,2.9 percent; and
i. Personal care, and miscellaneous goods and services, 4.0 percent.

On the other hand, increase in the index of housing, water, electricity, gas and other fuels was observed at -5.1 percent. The rest of the commodity groups retained their previous month's inflation rates or had zero percent annual growths. (Table B)

As shown in Table C, the food index of llocos Region decreased at 7.5 percent in November 2023, from 9.3 percent in the previous month. ln November 2022, the food index was posted at 8.5 percent. Furthermore, the following food groups contributed to the inflation trend in November 2023:

a. Fish and other seafood, 11.7 percent;
b. Oils and fats, -0.2 percent;
c. Vegetables, tubers, cooking bananas and pulses, -0.3 percent; and
d. Sugar, confectionery and desserts, -2.9 percent.

Meanwhile, fruits and nuts retained its inflation rate at 14.6 percent. The rest of the indices exhibited increases from their previous month's inflation rates. (Table C)

 

Among the provinces, Pangasinan posted the highest inflation rate at 3.9 percent in November 2023 followed by La Union at 3.7 percent. Meanwhile, llocos Norte recorded 0.7 percent inflation,
and llocos Sur with -0.3 percent annual growth.

Compared to their respective levels in November 2022, all the provinces recorded lower inflation rates.


SGD. ATTY. SHEILA O. DE GUZMAN, CPA
Regional Director, RSSO I