NextGen Day

The Philippine Statistics Authority-Regional Statistical Services Office (PSA-RSSO) stated on Thursday that inflation in Central Luzon reached 6.7 percent in May 2022, the highest annual rate since January 2019.

The most recent statistic was 2.3 percentage points higher than in May 2021, and 0.6 percentage points higher than the April 2022 figure of 6.1.

After the Cordillera Administrative Region, which had 6.9% inflation, Central Luzon ranked second among the country’s regions with the highest inflation.

The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), on the other hand, had the lowest inflation rate of 2.4 percent, followed by Northern Mindanao with a rate of 4.6 percent.

In May 2022, the country’s annual inflation rate increased to 5.4 percent, up from 4.9 percent in April 2022.

PSA-RSSO III officer-in-charge Arlene Divino stated in her report that the index of food and non-alcoholic beverages increased at a quicker annual pace to 5.1 percent in April 2022 from 4.5 percent in April 2022.

Transport had a 14.5 percent annual increase, housing, water, electricity, gas, and other fuels had an 11.8 percent annual increase, alcoholic beverages and tobacco had an 8.5 percent annual increase, personal care and miscellaneous goods and services had a 3 percent annual increase, and clothing and footwear had a 2.4 percent annual increase.

In May 2022, the annual growth rate in the regional food index increased to 5.8%, up from 4.8 percent in April 2022.

The increase in the annual growth rate of the following food indices can be attributed to the food index’s continued upward trend: vegetables, tubers, plantains, cooking bananas, and pulses at 27.3 percent; oils and fats at 18.9 percent; fish and other seafood at 7%; and meat and other parts of slaughtered land animals at 3.7 percent.

Sugar, confectionery, and desserts increased by 8.8%; flour, bread, and other bakery products, pasta products, and other cereals increased by 5.1 percent; ready-made food and other food products increased by 4%; and milk and other dairy products and eggs up by 2.1 percent.

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