Starting February 2022, the Philippine Statistics Authority (PSA) released the rebased Consumer Price Index (CPI) for all income households to base year 2018, from base year 2012 as announced in the press release number 2022-01 dated 04 January 2022. The CPI series for all income households for January 2023 onwards will be 2018-based.
1. Philippines
The country’s inflation rate has increased from 8.1 percent in December 2022 to 8.7 percent in January 2023. In January of the previous year, inflation was lower at 3.0 percent. (Table 1)
2. Central Visayas Region
The inflation rate in Central Visayas has decreased to 7.2 percent in January 2023 from 8.5 percent in December 2022. In January 2022, inflation in the region was recorded at 5.0 percent. (Table 1)
3. Negros Oriental
The province’s inflation rate has decreased from 7.9 percent on December 2022 to 7.4 percent in January 2023. In January of the previous year, inflation was lower at 5.7 percent. (Figure 1 and Table 2).
The province’s inflation rate was higher than the region’s inflation rate. (Table 1).
The inflation rates of the following commodity groups were high during the month of January compared to the previous month: (Figure 2)
a. Furnishings, Household Equipment, and Routine Household Maintenance, 8.3 percent from 8.1 percent;
b. Alcoholic Beverages and Tobacco, 6.3 percent from 5.9 percent;
c. Health, 5.8 percent from 5.5 percent;
d. Clothing and Footwear, 5.4 percent from 4.6 percent;
e. Recreation, Sports and Culture, 4.5 percent from 4.4 percent; and
f. Personal Care, and Miscellaneous Goods and Services, 2.6 percent from 2.5 percent.
Meanwhile, the following commodity groups showed slightly decreased inflation rates during the month of January compared to the previous month;
a. Food and Non-Alcoholic Beverages, 10.9 percent from 11.9 percent; and
b. Transport, 4.9 percent from 7.0 percent.
On the other hand, five commodity groups have retained their previous month’s inflation rates and these were: Restaurants and Accommodation Services at 6.2 percent; Housing, Water, Electricity, Gas and Other Fuels at 5.7 percent; Education Services at 2.2 percent; Information and Communication at 1.3 percent; and Financial Services at 0.0 percent. (Figure 2).
Inflation for food in the province decreased to 11.2 percent from 12.2 percent in December 2022. In January 2022, food inflation in the province was lower at 6.5 percent. Moreover, the following food groups posted a decrease in inflation rates: (Table 5)
a. Rice, from 3.6 percent to 0.9 percent;
b. Vegetables, Tubers, Plantains, Cooking Bananas and Pulses, from 25.4 percent to 13.6 percent;
c. Sugar, Confectionary and Desserts, from 59.6 percent to 54.3 percent;
d. Corn, from 13.3 percent to 13.1
e. Meat and Other parts of Slaughtered Land Animals, from 15.8 percent to 15.5 percent; and
f. Fruits and Nuts, from 33.1 percent to 26.0 percent
Meanwhile, increased in inflation rates were noted in the following food groups: (Table 5)
a. Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals, from 10.1 percent to 10.6 percent;
b. Fish and Other Seafood, from 3.6 percent to 6.8 percent;
c. Milk, Other Dairy Products, and Eggs, from 1.9 percent to 4.5 percent;
d. Oils and Fats, from 27.8 percent to 37.9 percent; and
e. Ready-made Food and Other Food products; from 15.1 percent to 15.8 percent.
APPROVED BY:
(SGD.) ARIEL T. FORTUITO
Chief Statistical Specialist
