Tacloban City's inflation slows down further at 2.8 percent in April 2023 

      Tacloban City's inflation slows down further at 2.8 percent in April 2023 from 4.2 percent in March 2023. This is the lowest recorded inflation rate of the City since April 2022. Tacloban City's inflation rate during the same period last year was higher at 4,5 percent. Likewise, Leyte recorded this month its lowest inflation rate since April 2022 at 4.4 percent. All other provinces and HUC in Eastern Visayas also registered a decrease in their respective inflation rates for this month.

      The decrease in Tacloban City's inflation rate during the reference period was due to the downtrend in annual rate of change of CPI of four (4) major commodity groups. Food and Non Alcoholic Beverages recorded a 1.9 percentage points decrease in its inflation rate, from 10.6 percent in March 2023 to 8.7 percent in April 2023 which was driven by the slower rate of increase in prices of Meat and Other Parts of Slaughtered Land Animals, Fish and Other Seafood, Oils and Fats, Vegetables, Tubers, Plantains, Cooking Bananas and Pulses, Sugar, Confectionery and Desserts, Fruit and Vegetable Juices, Coffee and Coffee Substitutes, Tea, Maté and Other Plant Products for infusion. Likewise, Alcoholic Beverages and Tobacco recorded a decrease in its inflation rate by 3.0 percentage points from 6.5 percent in March 2023 to 3,5 percent in April 2023 due to the slower rate of increase in prices of Spirits and Liquors and Tobacco, the decrease in prices of Wine, and the faster rate of decrease in prices of Non-Food commodities. Additionally, Housing, Water, Electricity, Gas and Other Fuels further recorded a deflation of 3.2 percent in April 2023 from a deflation of 1.4 percent in March 2023 caused by the faster rate of decrease in prices of Security Equipment and Materials for the Maintenance and Repair, Electricity, Gas, and Liquid Fuels. Likewise, Transport further registered a deflation of 2.2 percent in April 2023 from a deflation of 0.6 percent in March 2023 due to the faster rate of decrease in prices of Fuels and Lubricants for Personal Transport Equipment and the slower rate of increase in prices of Passenger Transport by Air.

       On the other hand, three (3) months major commodity groups recorded an increase in their respective inflation rates in April 2023. Furnishings, Household Equipment and Routine Household Maintenance recorded an increase at 1.2 percent in April 2023 from 0,1 percent in March 2023 due to the faster rate of increase in prices of Non-Matorized Tools and Miscellaneous Accessories and Non-Durable Household Goods. Likewise, Health recorded a slight increase at 1.8 percent in April 2023 from 1.6 percent in March 2023 caused by the faster rate of increase in prices of Medicines and Medical Products. Furthermore, Restaurants and Accommodation Services recorded an increase at 4.3 percent in April 2023 from 2.6 percent in March 2023 due to the faster rate of increase in prices of Restaurants, Cafe and the like.

       Meanwhile, six (6) major commodity groups maintained their inflation rates from their previous months' rate. These are Clothing and Footwear with 0.2 percent; Information and Communication also with 0.2 percent; Recreation, Sport and Culture with 1.6 percent; Education Services with 1.0 percent; Personal Care, and Miscellaneous Goods and Services with 3.2 percent; and Financial Services with zero percent inflation rate.

       The inflation rate is the general rise in prices over a period. It indicates how fast or how slow price changes over two-time periods. Contrary to common knowledge, low inflation does not necessarily connote that prices are falling instead; it means that prices continue to Micrease at a slower rate. It is a derived indicator of the Consumer Price Index (CPI). The CPI is a measure of change in the average retail prices of goods and services commonly purchased by a particular group of people in a specific area. The overall CPI in Tacloban City for April 2023 was 116.3. This implies that the average retail price of goods and services in Tacloban City is 16.3 percent higher than the average retail prices in 2018 (base year).

       The Purchasing Power of Peso (PPP) in Tacloban City retained at 86 centavos in April 2023. Meanwhile, the PPP in Leyte also retained at 84 centavos during the reference month. The 86 centavos purchasing power of peso in Tacloban City indicates that the same basket of goods and services worth 86 pesos in 2018 (base year) is worth 100 pesos during the reference period.

SGD. SHERYL ANN A. JAMISOLA 
Chief Statistical Specialist