City of Puerto Princesa

The headline inflation in the City of Puerto Princesa continued to slow down at 4.2 percent, from 4.6 percent in April 2023. In May 2022, the headline inflation was higher, at 7.3 percent. The average inflation rate for the first four months of the year stood at 5.8 percent, (Table A and Figure 1).

The decline in the City’s inflation rate was driven primarily by the decline in the annual growth of Transport at -2.4 percent from 2.3 percent in April 2023. This was followed by Food and Non-Alcoholic Beverages with an inflation rate of 4.6 percent from 5.2 percent in the previous month. The third driver is Alcoholic Beverages and Tobaccoat 13.5 percent from 15.8 percent inflation last month (Table B).

Also, lower increments in the annual inflation rate were observed in the following commodities:

1. Personal Care, and Miscellaneous Good and Services, 8.2 percent;
2. Clothing and Footwear,10.4 percent;
3. Health, 3.8 percent;
4. Furnishings,  Household Equipment and Routine Household Maintenance, 8.0 percent; and
5. Information and Communication, 1.4 percent.

On the contrary, higher increments were observed in the following commodity groups:

1. Housing, Water, Electricity, Gas and Other Fuels, 1.1 percent;
2. Restaurants and Accommodation Services, 11.1 percent; and
3. Recreation, Sport and Culture, 10.8 percent.

Meanwhile, Education and Financial Services retained their previous month’s inflation rates at 0.0 percent.

Food inflation in May 2023 further decelerated to 4.1 percent from 4.8 percent in the previous month. In May 2022, the food index was higher at 9.5 percent inflation rate, (Table C).

The main drivers for the lower food inflation were Fish and Other Seafood at

-3.9 percent, from 5.0 percent in April 2023.This was followed by Milk, Other Dairy Products and Eggs at 10.1 percent inflation rate from 11.4 percent. The third driver to the slowdown is Oils and Fats at 2.3 percent inflation rate from

7.5 percent last month.

Further contributing to the slowdown were the lower indices observed in the following commodities:

1. Sugar, Confectionery and Desserts, 32.4 percent;
2. Meat and Other Parts of Slaughtered Land Animals, 5.0 percent;
3. Flour, Bread, And Other Bakery Products, Pasta Products and Other Cereals, 12.3 percent;
4. Ready-made Food and Other Food Products n.e.c.,8.5 percent; and
5. Corn, -3.7 percent.

On the other hand, the indices of the following commodity groups posted higher inflation rates during the month:

1. Rice, -3.3 percent;
2. Vegetables, Tubers, Plantains, Cooking Bananas and Pulses 7.1 percent; and
3. Fruits and Nuts,17.8 percent.