Ilocos Region

The inflation rate of the Ilocos Region increased from 4.6 percent in August 2023 to 5.1 percent in September 2023, higher by of 0.5 percentage point. On the other hand, it is lower by 2.0 percentage points from the rate of 6.6 percent in September 2022.

The higher inflation in Ilocos Region in September 2023 was primarily influenced by the considerable increase in inflation of food and non-alcoholic beverages at 12.7 percent from 10.6 percent in August 2023, and transport at -0.6 percent from -1.7 percent in August 2023. (Table B)

On the other hand, decrease in the indices of the following commodity groups as compared to their previous month’s inflation rates were observed:

a. Clothing and footwear, 5.0 percent;
b. Housing, water, electricity, gas and other fuels, -5.3 percent;
c. Furnishings, household equipment and routine household maintenance, 7.6 percent;
d. Health, 3.4 percent;
e. Information and communication, 0.4 percent;
f. Recreation, sport and culture, 2.4 percent;
g. Education services, 2.1 percent; and
h. Personal care, and miscellaneous goods and services, 5.3 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 at 13.2 percent in September 2023, from 10.9 percent in the previous month. In September 2022, the food index was posted at 5.3 percent. Furthermore, the following food groups exhibited higher annual increments in September 2023:

a. Cereals and cereal products, 18.6 percent;
b. Fish and other seafood, 11.1 percent;
c. Fruits and nuts, 9.6 percent; and
d. Vegetables, tubers, cooking bananas and pulses, 48.5 percent.

The rest of the indices exhibited decreases from their previous month’s inflation rates or had zero percent annual growths.

Among the provinces, Pangasinan posted the highest inflation rate at 6.0 percent in September 2023 followed by La Union at 5.4 percent. Meanwhile, Ilocos Norte and Ilocos Sur both recorded 3.3 percent inflation.

Compared to their respective levels in September 2022, all the provinces recorded lower inflation rate except for the province of La Union. Ilocos Norte was lower by 5.7 percentage points, Ilocos Sur by 5.1 percentage points, and Pangasinan by 0.4 percentage point. The province of La Union exhibited increased inflation rate by 1.6 percentage points.

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