Pangasinan

Inflation rate in the Philippines eased to 8.6 percent in February 2023 from 8.7 percent in January. Inflation rate of the country in February 2022 was posted at 3.0 percent (see Table A). The average inflation in the country this year was posted at 8.6 percent.

Similarly, Ilocos Region recorded an inflation rate of 8.3 percent in February 2023, which was lower than that in January at 9.3 percent. Inflation rate of the region in February 2022 was posted at 3.1 percent (see Table A). The average inflation in the region this year was posted at 8.8 percent.

Headline inflation rate in Pangasinan weakened to 9.3 percent in February 2023 from the all-time high of 10.5 percent in January 2023 (see Figure 1). Inflation rate in the province in February 2022 was posted at 2.4 percent. The average inflation in the province this year was posted at 9.7 percent (see Table A).

The province’s inflation rate in February 2023 was mainly brought about by lower year-on-year growth rate in the index of Food and Non-Alcoholic Beverages at 11.1 percent from 11.6 percent in January (see Table C). Also contributing to the declining inflation rate of the province during the month were the decreased inflation rates in the following commodities:

a.    Housing, Water, Electricity, Gas, and Other Fuels, 10.5 percent;

b.    Health, 9.1 percent;

c.    Transport, 5.5 percent; and

d.    Information and Communication, 1.2 percent.

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

a.    Furnishings, Household Maintenance, 12.6 percent;

b.    Alcoholic Beverages and Tobacco, 10.7 percent;

c.    Personal Care and Miscellaneous Goods, 7.8 percent;

d.    Restaurants and Accommodation, 7.2 percent; and

e.    Recreation, Sports, and Culture, 5.2 percent.

Meanwhile, the rest of the commodities retained their previous month’s inflation rates.

Specifically, inflation rate of Food and Non-Alcoholic Beverages in February 2023 was reported at 11.1 percent, which was lower from 11.6 percent in January. Inflation rate of this commodity group was lower at (1.4) percent in February 2022 (see Table D).

The highest increased inflation for vegetables, tubers, etc. at 46.4 percent predominantly influenced the food inflation in February 2023. In addition, slower annual growth rates were also observed in the following food groups:

a.    Sugar, Confectionery, and Desserts, 43.4 percent;

b.    Oils and Fats, 18.7 percent;

c.    Ready-made Foods, etc., 6.2 percent; and

d.    Corn, (19.3) percent.

Meanwhile, the following food groups showed an increase in their inflation:

a.    Fruits and Nuts, 11.5 percent;

b.    Milk, Other Dairy Products, and Eggs, 11.4 percent;

c.    Flour, Bread, Pasta, and Others, 11.3 percent;

d.    Fish and Other Seafood, 10.1 percent;

e.    Rice, 6.5 percent;

f.      Meat of Slaughtered Land Animals, 1.1 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