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 decreased from 8.7 percent in January 2023 to 8.6 percent in February 2023. In February of the previous year, inflation was lower at 3.0 percent. (Table 1)
2. Central Visayas Region
The inflation rate in Central Visayas has increased to 7.4 percent in February 2023 from 7.2 percent in January 2023. In February 2022, inflation in the region was recorded at 5.1 percent. (Table 1)
3. Negros Oriental
The province’s inflation rate has increased from 7.4 percent on January 2023 to 8.4 percent in February 2023. In February of the previous year, inflation was lower at 5.1 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 higher during the month of February compared to the previous month: (Figure 2)
a. Food and Non-Alcoholic Beverages, 13.9 percent from 10.9 percent;
b. Restaurants and Accommodation Services, 8.6 percent from 6.2 percent;
c. Alcoholic Beverages and Tobacco, 6.9 percent from 6.3 percent;
d. Clothing and Footwear, 6.0 percent from 5.4 percent;
e. Health, 5.9 percent from 5.8 percent;
f. Recreation, Sport and Culture, 4.6 percent from 4.5 percent; and
g. Personal Care, and Miscellaneous Goods and Services, 2.9 percent from 2.6 percent.
Meanwhile, the following commodity groups showed slightly decreased inflation rates during the month of February compared to the previous month;
a. Housing, Water, Electricity, Gas and Other Fuels, 5.1 percent from 5.7 percent; and
b. Transport, 4.4 percent from 4.9 percent.
On the other hand, four commodity groups have retained their previous month’s inflation rates and these were: Furnishings, Household Equipment, and Routine Household Maintenance at 8.3 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 increased to 14.2 percent from 11.2 percent in January 2023. In February 2022, food inflation in the province was lower at 3.4 percent. Moreover, the following food groups posted an increase in inflation rates: (Table 5)
a. Sugar, Confectionary and Desserts, from 54.3 percent to 55.4 percent;
b. Oils and Fats, from 37.9 percent to 38.2 percent;
c. Vegetables, Tubers, Plantains, Cooking Bananas and Pulses, from 13.6 percent to 20.5 percent;
d. Corn, from 13.1 percent to 17.7 percent;
e. Fish and Other Seafood, from 6.8 percent to 15.6 percent;
f. . Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals, from 10.6 percent to 11.7 percent;
g. Milk, Other Dairy Products, and Eggs, from 4.5 percent to 7.1 percent; and
h. Rice, from 0.9 percent to 2.0 percent.
Meanwhile, decreased in inflation rates were noted in the following food groups: (Table 5)
a. Fruits and Nuts, from 26.0 percent to 21.3 percent;
b. Ready-made Food and Other Food products; from 15.8 percent to 15.1 percent; and
c. Meat and Other parts of Slaughtered Land Animals, from 15.5 percent to 15.8 percent.
APPROVED BY:
(SGD.) ARIEL T. FORTUITO
Chief Statistical Specialist
