Food inflation for February 2023 accelerated at 11.5 percent, higher than its previous month’s inflation of 9.5 percent. In February 2022, the food index was lower at 4.2 percent, (Table C).

The uptrend in the food index was brought by higher indices in Fish and Other Seafood at 20.4 percent, from 1.2 percent in January 2023. In addition, Vegetables, Tubers, Plantains, Cooking Bananas and Pulses index increased to 21.9 percent, from 14.4 percent in the previous month. Also contributing to

the    upward    trend    were    the    higher    indices    observed    in    the    following commodities:
a.    Flour, Bread and other Bakery Products, Pasta Products and other Cereals, 16.7 percent;
b.    Oils and Fats, 11.4 percent; and
c.    Ready-made Food and Other Food Products n.e.c., 9.1 percent.

On the other hand, the indices of the following commodity groups posted lower inflation during the month:
a.    Meat and Other Parts of Slaughtered Land Animals, 11.9 percent;
b.    Sugar, Confectionery, and Desserts, 36.0 percent;
c.    Milk, Other Dairy Products and Eggs, 10.1 percent;
d.    Fruits and Nuts, 16.2 percent;
e.    Corn, -6.8 percent; and
f.    Rice, -1.6 percent.