Headline inflation in the Province of Tarlac decrease to 6.8 percent in August 2022, after five consecutive months of acceleration. With this month’s inflation, the province’s average inflation from January to August 2022 stood at 5.1 percent. In August 2021, inflation rate was posted at 7.1 percent. (Table A and Figure 1).
The decrease in province’s inflation was mainly brought about by the decrease in the index for commodity group of transport at 12.2 percente, from 16.7 percent in the previous month. This was followed by housing, water, electricity, gas, and other fuels at 13.6 percent, from 14.0 percent in the previous month. Alcoholic Beverages and Tobacco declined also by 10.4 percent, from 11.2 percent from the previous month. This was followed by food and non-alcoholic beverages whose index declined by 5.0 percent, from 7.0 percent in the previous month. The index for information and communication declined also by 1.0 percent, from 1.2 percent in the previous month. The index for health also exhibited a lower annual growth rate at 1.8 percent, from 2.7 percent in the previous month.
On the other hand, inflation rates were higher for the following commodity groups during the month:
a. Education services, 2.5 percent;
b. Restaurants and accommodation services, 1.9 percent
c. Furnishings, household equipment, and routine household maintenance, 5.6 percent;
d. Clothing and footwear, 2.9 percent
e. Personal care, and miscellaneous goods and services, 3.7 percent
f. Recreation, sport and culture, 7.0 percent;
Meanwhile, the financial services commodity group retained its previous month’s inflation rate. (Tables 3 and 4)
On the other hand, inflation rates for food decreased by 5.2 percent in August 2022, from 7.4 percent in the previous month. In August 2021, food inflation was higher by 6.8 percent. (Table 7)
The annual growth rate of the rice index went up to 0.9 percent during the month, from -0.2 percent in the previous month. Meanwhile, corn index showed decrease during the month by 13.1 percent, from 22.8 percent in the previous month. The following items for food commodity groups that showed decrease during the month were vegetables, tubers, plantains, cooking bananas and pulses, fish and other seafood, meat and other parts of slaughtered land animals with -10.7, 4.1 and 6.8 percent respectively.
On the other hand, the following food groups exhibited higher annual growth during the month:
a. Sugar, Confectionery and Desserts, 27.0 percent
b. Milk, Other Dairy Products, and Eggs, 10.8 percent
c. Fruints and Nuts, 1.2 percent
d. Oils and Fats, 22.8 percent
e. Ready-Made Food and Other Food Products N.E.C., 10.0 percent
In Central Luzon, the province of Bataan had the highest inflation rate for the month of August 2022 with 9.2 percent. This was followed by the province of Aurora and Zambales which tied at 8.7 percent, followed by the province of Nueva Ecija at 8.6 percent, province of Pampanga at 7.0 percent and province of Tarlac at 6.8 percent.
However, the province of Bulacan had the least inflation rate posted at 3.8 percent.
Note: CPIs and Inflation Rates are posted at the PSA website (https://openstat.psa.gov.ph/)
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