Summary Inflation Report Consumer Price Index (2018=100) April 2023

Release Date :

Tuesday, May 9, 2023

Reference Number :

2023-005-0848-015

The Inflation Rate (IR) of Northern Samar decrease to 6.4 percent in April 2023. This IR is 0.9 percentage points lower compared with the 6.4 IR a month ago and 1.0-percentage points lower than the recorded 7.4 inflation in the same period last year. The province IR is 1.7 percentage points higher than the Regional IR of 4.7 percent.

All seven (7) provinces, including one (1) HUC, in Eastern Visayas posted a lower IR compared with their figures a month ago.

Out of thirteen (13) commodity groups in the province, six (6) commodity groups registered lower IRs while two (2) commodity group registered a higher IR during the month in comparison with their rates a month ago. Whereas five (5) commodity groups retained its IR. The IRs resulted to a 0.9 percentage point decrease in the overall IR of the province for the month of April 2023.

The decrease in the province inflation was mainly brought about by a lower annual increment in the Housing, Water, Electricity, Gas and Other Fuels division which has a 29.0 percent contribution to inflation by division and a 58.9 percent share to inflation trend, with its current inflation rate of 9.7 from a 12.4 last months’ IR.

This can be traced due to the significant decreases in the following:

a. Electricity, 9.0 percent and 57.3 percent share to downtrend;
b. Liquefied hydrocarbons, -12.9 percent and 29.2 percent share to downtrend;
c. Liquid fuels, -6.9 percent and 93.3 percent share to downtrend; and
d. Charcoal, -2.3 percent and 4.2 percent share to downtrend.

Food and Non-Alcoholic Beverages commodity group registered a decrease in IR from 9.4 percent in March to 9.3 percent in April 2023. This division has a 72.9 percent contribution to inflation by division and 5.7 percent share to inflation trend.

A decrease in Fish and Other Seafood registering a 4.2 percentage point decrease from 11.0 to 6.8 IR for the current month, which constitutes a 66.4 percent share to inflation trend.

Vegetables, Tubers, Cooking Bananas and Pulses also registers a 3.6 percentage point decrease from 18.8 IR in March to 15.2 IR in April. This sub-group rank 2nd with a 29.0 percent share to inflation trend.

Meanwhile, a decrease in the f o l l o w i n g divisions can also be observed:

a. Alcoholic Beverages and Tobacco, 9.2 percent;
b. Clothing and Footwear, (2.2) percent;
c. Transport, (8.6) percent; and
d. Restaurant and Accommodation Services, 1.7 percent.

Two (2) commodity groups registered a minimal increase in their inflation rate. The Health division has a current IR of (2.1) from last months’ IR of (2.2). This is due to a minimal increase in Medicines, vaccines and other pharmaceutical preparations.

While Personal Care, and Miscellaneous Goods and Services division has a 0.2 percentage point increase from 1.1 to 1.3 IR. This can be trace due to a 4.1 percentage point increase in personal grooming treatment from a 6.1 IR to 10.2 IR, which has a 26.4 percent contribution to April 2023 inflation and a 51.3 percent share to uptrend. Hairdressing also contributes 15.5 percent to April 2023 inflation and 48.8 percent share to uptrend, with current IR of 6.0 from a 2.1 IR in March.

The following commodity groups retained their previous month’s inflation rates:

a. Furnishings, Household Equipment And Routine Household Maintenance, 2.2 percent;
b. Information and Communication, 3.2 percent;
c. Recreation, Sport And Culture, 2.7 percent;
d. Education Services. (1.2) percent; and
e. Financial Services, 0.0 percent.