The faster annual increase in transport at -6.4 percent in June 2023 from -3.8 percent in May 2023 also contributed to the downtrend. Restaurants and accommodation services was the third main source of deceleration of headline inflation in June 2023 with 12.6 percent annual growth rate from 13.5 percent in May 2023.

Armonia stated in the conference that compared with their previous month’s inflation rates, slower annual increments were also noted in the indices in the commodity groups of Information and Communication, 1.5% from 1.7%; recreation, Sports and Culture, 5.0% from 5.3%; personal care, and miscellaneous goods and services, 6.6% from 6.7% during the month of June.

On the contrary, faster year-on-year growth was observed during the reference month in the indices of the commodity groups of alcoholic beverages and tobacco, 13.1% from 12.7%; clothing and footwear, 12.0% from 11.7%; housing, water, electricity, gas and other fuels, 12.2% from 10.6%; and furnishings, household equipment and routine household maintenance, 11.4% from 11.0%.

Armonia further stated that food inflation in Oriental Mindoro slowed to 10.0 percent in June 2023 from 11.2 percent in May 2023. In June 2022, the food inflation rate was lower at 1.3 percent.

The deceleration of food inflation in June 2023 was mainly brought about by the lower annual growth in rice at 16.5 percent from 20.5 percent in May 2023. This was followed by meat and other parts of slaughtered land animals with an inflation rate of -3.5 percent in June 2023 from -2.3 percent in the previous month. The third primary driver of slower food inflation was fruits and nuts, which recorded a 7.0 percent    inflation rate during the month from 12.5 percent in May 2023.

Meanwhile, compared with their previous month’s inflation rates, higher year-on-year growth rates were observed in the indices of flour, bread and other bakery products, pasta products, and other cereals at 9.1 percent from 8.8 percent; fish and other seafood at 13.6 percent from 10.5 percent; and of ready-made food and other food products not elsewhere classified at -1.4 percent from -2.3 percent.