Pangasinan

Inflation rate in the Philippines increased to 8.1 percent in December 2022 from 8.0 percent in November. This leads to the country’s average inflation rate of 5.8 percent. Inflation rate of the country in December 2021 was posted at 3.1 percent (see Table A).

Similarly, Ilocos Region recorded an upsurge in the inflation rate at 8.2 percent in December 2022, which was higher than that in November at 7.7 percent. This leads to the region’s average inflation rate of 5.8 percent. Inflation rate of the region in December 2021 was posted at 3.1 percent.

Headline inflation rate in Pangasinan intensified to 8.5 percent in December 2022 from 7.9 percent in November (see Figure 1). This leads to the province’s average inflation rate of 5.7 percent. Inflation rate in the province in December 2021 was posted at 3.2 percent. This is the highest recorded inflation in the province since January 2019 (see Table B).

The province’s inflation rate in December 2022 was mainly brought about by higher year-on-year growth rate in the index of Food and Non-Alcoholic Beverages at 9.4 percent from 7.5 percent in November (see Table C). Also contributing to the towering inflation rate of the province during the month were the increased inflation rates in the following commodities:

a.   Health, 10.4;

b.   Transport, 9.0 percent;

c.   Alcoholic Beverages and Tobacco, 6.5 percent;

d.   Recreation, Sports, and Culture, 4.8 percent; and

e.   Restaurants and Accommodation Services, 3.5 percent.

On the other hand, slower year-on-year increase were observed in the indices of the following commodities:

a.   Housing, Water, Electricity, Gas, and Other Fuels, 12.9;

b.   Personal Care, Miscellaneous Goods and Services, 7.4 percent;

c.   Furnishings, Household Equipment, and Routine Household Maintenance, 7.0 percent; and

d.   Clothing and Footwear; 5.0 percent.

Meanwhile, the rest of the commodities (i.e., Information and Communication, Educational Services, and Financial Services) retained their previous month’s inflation rates.

Specifically, inflation rate of Food and Non-Alcoholic Beverages in December 2022 was reported at 9.4 percent, which was higher from 7.5 percent in November. Inflation rate of this commodity group was lower at 1.3 percent in December 2021 (see Table D).

The highest increased inflation for vegetables, tubers, etc. at 39.5 percent predominantly influenced the higher food inflation in December 2022. Meanwhile, fast annual growth rates were also observed in the following food groups:

a.   Sugar, Confectionery, and Desserts, 44.7 percent;

b.   Milk, Other Dairy Products, Eggs, 8.1 percent;

c.   Cereals, 4.6 percent;

d.   Meat of Slaughtered Land Animals, 3.9 percent;

e.   Fruits and Nuts, 0.4 percent;

Meanwhile, the following food groups showed a decrease in their inflation:

a.   Oils and Fats, 25.5 percent;

b.   Flour, Bread, etc., 9.3 percent;

c.   Ready-made Food and Food Products. 6.3 percent; and

d.   Fish and Other Seafood, 5.4 percent

Note: CPIs and inflation rates by province are posted at the PSA website (https://openstat.psa.gov.ph/).

SGD. EDGAR M. NORBERTE
Chief Statistical Specialist