City of Puerto Princesa

The headline inflation in the City of Puerto Princesa decelerated to 5.9 percent in March 2023, from 7.5 percent in February 2023. In March 2022, the headline inflation was lower, at 5.2 percent. The average inflation rate for the first quarter of the year stood at 6.7 percent, (Table A and Figure 1).

The downtrend to the overall inflation of the City was brought about by the heavily weighted Food and Non-Alcoholic Beverages which recorded a lower inflation rate of 8.5 percent from 11.5 percent in February 2023. This was followed by Housing, Water, Electricity, Gas and Other Fuels with an inflation rate of -0.6 percent from 1.1 percent in the previous month. The third primary contributor to the decline was Transport at 3.8 percent from 7.5 percent inflation last month. Health also contributed to the deceleration with a recorded 4.4 percent inflation in March 2023 from 4.6 percent inflation rate in February 2023, (Table B).

In contrast, higher increments were observed in the following commodity groups:
a.    Restaurants and Accommodation Services, 10.9 percent;
b.    Clothing and Footwear, 10.9 percent;
c.    Personal Care, and Miscellaneous Good and Services, 8.4 percent;
d.    Furnishings,    Household    Equipment    and    Routine    Household Maintenance, 8.3 percent;
e.    Alcoholic Beverages and Tobacco, 11.6 percent; and
f.    Recreation, Sport and Culture, 10.0 percent.

Meanwhile, the rest of the commodity groups retained their previous month’s inflation rates.
 

Food inflation in March 2023 decelerated to 8.4 percent from 11.6 percent in the previous month. In March 2022, the food index was lower at 5.1 percent inflation rate, (Table C).

The downtrend in the food index was primarily driven by lower indices in Rice at -4.0 percent inflation rate, from -1.7 percent in February 2023. This was

followed by Vegetables, Tubers, Plantains, Cooking Bananas and Pulses at
14.6 percent inflation rate from 21.9 percent one month ago. The third primary driver to the slowdown was Meat and Other Parts of Slaughtered Land Animals at 8.0 percent inflation rate from 11.9 percent last month.

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

a.    Fish and other Seafood, 17.3 percent;
b.    Fruits and Nuts, 5.3 percent;
c.    Flour, Bread and other Bakery Products, Pasta Products and other Cereals 14.3 percent; and
d.    Ready-made foods and other foods n.e.c., 8.6 percent.

On the other hand, the indices of the following commodity groups posted higher inflation rates during the month:
a.    Sugar, Confectionery, and Desserts, 37.8 percent;
b.    Milk, Other Dairy Products and Eggs, 11.2 percent; and
c.    Corn, -4.8 percent.