GUIMARAS – The food inflation in this island province closed at 11.8 percent in December 2022, the Retail Price Survey of Commodities for the Generation of Consumer Price Index of the Philippine Statistics Authority (PSA) showed.
This was a bit faster than the 11.7 percent in November 2022 and 6.4 percent quicker than the 5.4 percent food inflation in December 2021, according to Provincial Statistics Officer Nelida B. Losare.
“Fruits and nuts commodity with an inflation rate of 28.2 percent in December, shared 52.7 percent to inflation trend,” added Losare.
The 11.9 percent inflation of meat and other parts of slaughtered land animals; and 10.3 annual price increment of milk, other dairy products, and eggs cut a 23.7 and 8.9 percent share to the December 2022 food inflation, respectively.
Other food items which contributed to the uptrend of the December 2022 food inflation in Guimaras were fish and other seafood (7.8%); sugar, confectionery and desserts (48.1%); ready-made food and other food products n.e.c. (3.1%); and corn (19.0%).
The food inflation rate for December 2021 was 5.4 percent and expanded to 9.4 percent at the beginning of 2022.
In February, food inflation dropped to 3.2 percent and showed a continuous uptrend in the succeeding months, starting March until August at a record high of 12.1 percent food inflation in 2022.
Data also showed that food inflation slowed down in September 2022 and moved faster until it peaked at 11.8 percent in December 2022.
“The average food price changes for the twelve months of the current year stood at 8.8 percent, the highest average food inflation since 2019, while the slowest average food inflation was seen in 2021 at -0.3%”, Losare said.
The highest food inflation rate recorded in four years was 12.1% in August 2022, while the slowest was in January 2021 at -3.9 percent. (PSA)/PN
