LAOAG CITY, Ilocos Norte, Philippines — The inflation rate in Ilocos region soared to 8.2 percent in December 2022, with basic necessities including food, non-alcoholic beverages, transport, and health contributing to the acceleration, according to the latest report of the regional Philippine Statistics Authority (PSA).
The December figure moved from 7.7 percent in November 2022, the PSA said in its report released to the public on Friday, Jan. 6.
It added that the 8.2-percent inflation was higher by “5.1 percentage point from the recorded rate of 3.1 percent in December 2021.”
This brought the full-year inflation average in the region to 5.9 percent.
The PSA said that price increases in the region were influenced by higher inflation of food and non-alcoholic beverages at 9.9 percent; transport (9.8 percent); and health (7.5 percent).
Steep food inflation
Compared to November 2021, inflation slightly fell for housing, water, electricity, gas, and other fuels from 12.3 percent to 11.0 percent, and clothing and footwear from 4.1 percent to 3.9 percent in December.
Food prices continued to spike in the region in December, which increased to 10.2 percent from 8.5 percent in November 2022.
Steep food inflation was mainly driven by the high cost of vegetables, from 19.7 percent in November to 40.2 percent in December, and sugar (from 45.1 percent to 46 percent). Rice was at 3.2 percent, while milk, other dairy products, and eggs were at 7.9 percent.
Except for La Union, inflation rose in all of the provinces in the region in December 2022, compared to the same period in 2021, according to the PSA.
It noted that Ilocos Sur province posted the highest inflation rate last December at 10.3 percent. It was followed by Ilocos Norte and Pangasinan at 8.9 percent and 8.5 percent, respectively.
“The lowest inflation rate was registered in La Union at 1.9 percent,” added the PSA.
The country’s inflation rate soared to 8.1 percent in December, which brought the full-year average to 5.7 percent, according to the PSA.