Guimaras food inflation in 2nd sem starts at 11.9%

GUIMARAS – In this province, the annual rate of price change on food items rose to 11.9% in July 2022, deviating a wide gap of 12% compared to the same month in 2021 with a -0.1%, and a 2.5% increment from the previous month’s inflation of 9.4%,  according to the Retail Price Survey of Commodities for the Generation of CPI conducted by the Philippine Statistics Authority (PSA).

“Entering the second half of 2022, the headline inflation rates in Guimaras for food items this July registered the highest at 11.9 percent compared to the January and June of this year pitching both at 9.4 percent,” said Provincial Statistics Officer Nelida Losare.

The increment in the inflation rate on food groups was due to the upsurge in the prices of vegetables, tubers, plantains cooking bananas, and pulses (47.3%) with the largest share of 35.3 percent; followed by rice (0.6%) with 26.5 percent share, and meat and other parts of slaughtered land animals (17.9%) allotted with 19.6 percent share completing the top three heavily weighted food groups for July. 

Other food items which contributed to the uptrend in the annual food rates were fish and other seafood (12.2%); sugar, confectionery, and desserts (22.8%); and ready-made food and other food products N.E.C. (8.6%).

“Corn inflation (15.9%); flour, bread, and other bakery products, pasta products, and other cereals (4.7%); oils and fats (12.9%); fruits and nuts (13.9%) showed slower price movements in July when compared to the prices a month ago. However, prices on Milk, other Dairy Products, and Eggs (5.2%) managed to retain its previous month’s inflation level,” Losare explained.

The Ju ly 2022 food inflation got the highest year-on-year price changes at 11.9 percent since July 2021.

For the past twelve months, food inflation rates slowed to 3.2% from 9.4% in the second month of 2022, then gradually picked up in the following months until it reached 9.4% in June, which quickly jumped off breaking the highest price changes for 2022, and is now sitting at 11.9 percent in July.

“Since 2019, the year 2022 still exhibited the fastest average food inflation with 7.2 percent while the slowest average food inflation was in 2021 at -0.3 percent,” Losare said./PN

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