1.    Cordillera Administrative Region (CAR)

Inflation rate in Cordillera slowed down after three months of acceleration, registering 7.1 percent in February 2023 from 7.9 percent in January 2023. Inflation in February 2022 was lower at 4.3 percent.

The deceleration of inflation rate in February 2023 was primarily brought about by a slower year-on-year growth rate in the index of food and non-alcoholic beverages at 10.1 percent, from 11.2 percent in January 2023. This was followed by the index of transport at 13.5 percent, from 16.3 percent, and alcoholic beverages and tobacco at 13.5 percent, from 16.3 percent in the previous month (Table B and Figure 1).

Among the thirteen commodity groups, only three recorded a lower year-on-year growth rate. However, their weight to the overall inflation in the region was high which resulted in a lower inflation rate.

On the other hand, the following commodity groups had higher inflation rates during the month:

a.    Clothing and footwear, 4.5 percent;

b.    Furnishings, household equipment and routine household maintenance, 4.4 percent;

c.    Health, 4.0 percent;

d.    Recreation, sport and culture, 4.9 percent;

e.    Restaurants and accommodation services, 7.0 percent; and

f.     Personal care, and miscellaneous goods and services, 5.0 percent.

Meanwhile, the following commodity groups retained their annual growth rate:

a.    Housing, water, electricity, gas and other fuels, 4.1 percent;

b.    Information and communication, 0.2 percent;

c.    Educational services, 0.6 percent; and

d.    Financial services, 0.0 percent.

2. Food Inflation in CAR

The deceleration in food inflation was mainly brought about by lower annual growth in the food sub-groups index of vegetables, tubers, plantains, cooking bananas and pulses index at 37.6 percent, from 49.6 percent in January 2023. Moreover, a lower annual growth rate was observed in the indices of the following food groups:

1. Meat and other parts of slaughtered land animals, 3.1 percent;
2. Ready-made food and other food products, 4.2 percent;
3. Sugar, confectionery and desserts, 42.0 percent; and
4. Oils and fats, 10.5 percent.

On the other hand, a higher annual growth rate was registered in the following food groups:

1. Fish and other seafood, 5.8 percent;
2. Milk, other dairy products and eggs, 15.6 percent; and
3. Fruits and nuts at 7.0 percent.

Meanwhile, the food group of cereals and cereal products retained its annual growth rate of 4.1 percent.
 

3. Provinces/ Highly Urbanized City (HUC) in CAR

Among the provinces and highly urbanized city, Abra registered the highest inflation deceleration in the region at 7.7 percent from 9.3 percent in January 2023, or 1.6 percentage points lower than the previous month. This was followed by Kalinga at 10.1 percent from 11.4 percent of the previous month or 1.3 percentage lower. In addition, the following also recorded slower inflation rates during the month of February 2023:

1. Baguio City, 7.1 percent;
2. Benguet, 6.4 percent; and
3. Apayao, 9.9 percent.

Meanwhile, Ifugao and Mountain Province recorded an increase in inflation with 6.4 percent and 10.1 percent, respectively.

________________________________________________________

Note:

CPI and inflation rates by province and selected city are posted on the PSA website (http://openstat.psa.gov.ph).

VILLAFE P. ALIBUYOG
Regional Director