Palawan

The headline inflation in the province of Palawan further accelerated to 7.1 percent in September 2023, from 5.9 percent in August 2023. This brings the average inflation rate for the first nine months of the year to 7.2 percent. In September 2022, inflation rate is higher at 9.8 percent, (Table A and Figure 1).

The growth in the provincial inflation in September 2023 was primarily driven by the higher annual increment in the index of Food and Non-Alcoholic Beverages, posted at 11.3 percent from 8.2 percent last month. Recreation, Sport and Culture also contributed to the uptrend with an inflation rate of 14.5 percent from 12.2 percent in August 2023.

In contrast, downtrends were observed in the indices of the following commodity groups:

1. Housing, Water, Electricity, Gas and other Fuels, 0.7 percent from 1.3 percent;

2. Transport, -0.5 percent from 0.2 percent;

3. Restaurants and Accommodation Services, 3.0 percent from 4.7 percent;

4. Clothing and Footwear,7.0 percent from 7.8 percent;

5. Personal Care and Miscellaneous Good and Services, 5.8 percent from 6.8 percent;

6. Furnishings, Household Equipment and RoutineHousehold Maintenance, 5.0 percent from 6.4 percent;

7. Health, 5.2 percent from 5.6 percent; and

8. Alcoholic Beverages and Tobacco 8.3 percent, from 9.1 percent.

Information and Communication and Education Services retained its previous month’s annual increase, while Financial Services remained at zero percent annual rate during the month.

Food index for September 2023 rose to 11.5 percent inflation rate, from 8.2 percent in the previous month. In September 2022, the food index was higher, at 12.8 percent inflation rate, (Table C).

The faster annual growth rate of food inflation in September 2023 was mainly brought about by the higher inflation for Rice at 16.3 percent, from 6.6 percent last month. This was followed by Fish and other Seafood with an annual increase of 14.9 percent inflation rate, from 11.7 percent in August 2023. Also contributing to the growth is Vegetables, Tubers, Plantains, Cooking Bananas and Pulses which increased to 20.9 percent inflation rate, from 19.3 percent in the previous month.

Meanwhile, lower indices were observed in the following commodities:

1. Meat and Other Parts of Slaughtered Land Animals, -1.2 percent from -1.1 percent;
2. Flour, Bread and other Bakery Products, Pasta Products and other Cereals, 9.4 percent from 10.0 percent;
3. Milk, Other Dairy Products and Eggs, 10.5 percent from 11.0 percent;
4. Fruits and Nuts,7.3 percent from 8.4 percent;
5. Ready-made food and other food products n.e.c.,4.3 percent, from 4.7 percent;
6. Sugar, confectionery, and desserts, 8.8 percent from 11.4 percent;
7. Oils and Fats, -4.4 percent from -3.0 percent; and
8. Corn, 1.7 percent from 2.9 percent.