Table A. Year-on-Year Inflation Rates
for the Bottom 30% Income Households, All Items
In Percent
(2018=100)

A. The Philippines

The country’s inflation rate for the bottom 30% income households slowed down to 2.5 percent in December 2024 from 2.9 percent in November 2024. This brings the average inflation from January to December 2024 for this income group to 4.2 percent. In December 2023, the inflation rate was posted at 5.0 percent. (Table A)

B. Central Visayas

1. Regional Inflation

Following the trend at the national level, inflation rate for the bottom 30% income households in Central Visayas slowed down to 2.5 percent in December 2024 from 3.1 percent in November 2024. The average inflation rate for the region from January to December 2024 was recorded at 4.1 percent.  In December 2023, inflation rate in the region was higher which posted at 4.4 percent. (Table A)

C. Province of Cebu

1. Headline Inflation

The headline inflation rate for the bottom 30% income households in the Province of Cebu slowed down to 3.6 percent in December 2024 from 3.8 percent in November 2024.  This brings the average inflation rate from January to December 2024 for this income group to 2.6 percent. In December 2023, inflation rate was recorded at 1.9 percent. (Table A and Figure 1)

1.1 Main Drivers to the Downward Trend of Headline Inflation in the Province of Cebu

The main driver to the downtrend of headline inflation in December 2024 for bottom 30% income households was mainly influenced by the slower year-on-year increment of food and non-alcoholic beverages index at 3.4 percent from 6.0 percent in November 2024. (Table 3)

Furthermore, other commodity groups that also recorded slower annual increases were the following:

a. Personal care, miscellaneous goods and services, 2.5 percent from 2.8 percent;
b. Health, 3.4 percent from 4.1 percent;
c. Furnishings, household equipment and routine household maintenance, 1.1 percent from 1.4 percent;
d. Alcoholic beverages and tobacco, 2.6 percent from 2.8 percent; and
e. Recreation, sport and culture, 5.2 percent from 5.4 percent.

On the contrary, faster annual increases were recorded in the indices of housing, water, electricity, gas and other fuels at 1.5 percent, and transport at 22.7 percent during the month from their respective inflation rates at 1.3 percent annual increase and 0.6 percent annual decline in the previous month. 

The commodity groups that retained their previous month’s inflation rates were as follows:

a. Clothing and footwear, 0.8 percent;
b. Information and communication, 0.0 percent;
c. Education services, 9.2 percent;
d. Restaurants and accommodation services,  0.0 percent; and
e. Financial services, 0.0 percent.

1.2    Main Contributors to the Headline Inflation

The top three commodity groups that contributed to the December 2024 overall inflation for the bottom 30% income households in the Province of Cebu were as follows:

a. Food and non-alcoholic beverages with 45.8 percent share or 1.7 percentage points;
b. Transport with 35.9 percent share or 1.3 percentage points; and
c. Housing, water, electricity, gas and other fuels with 6.8 percent share or 0.2 percentage point.

2. Food Inflation

Food inflation rate for the bottom 30% income households in the Province of Cebu  slowed down to 3.4 percent in December 2024 from 6.2 percent in November 2024. In December 2023, food inflation was lower which stood at 0.1 percent. (Table 7)

2.1    Main Drivers to the Downtrend of Food Inflation

The main driver to the downtrend of food inflation in December 2024 was mainly brought by the slower year-on-year increment of corn index at 17.3 percent from 23.5 percent in November 2024. Faster year-on-year decreases of rice at 6.4 percent, and vegetables, tubers, plantains, cooking bananas and pulses at 0.4 percent during the month from their respective food inflation rates at 2.1 percent annual decline and 9.0 percent annual increase in the previous month also contributed to the downtrend. (Table 5)

In addition, slower annual increases were observed in the indices of fruits and nuts at 12.2 percent, milk, other dairy products and eggs at 2.5 percent, and ready-made food and other food products not elsewhere classified at 2.7 percent during the month from their respective inflation rates at 13.5 percent, 2.9 percent, and 3.6 percent in the previous month. 

Faster annual decrease was recorded in sugar, confectionery and desserts food group at 8.4 percent during the month from annual drop of 7.3 percent in the previous month.

On the other hand, faster annual increases were posted in the indices of flour, bread and other bakery products, pasta products, and other cereals at 2.6 percent, and meat and other parts of slaughtered land animals at 5.4 percent during the month from their respective food inflation rates at 2.5 percent, and 5.2 percent in the previous month. Moreover, fish and other seafood recorded a slower annual decrease at 1.2 percent during the month from 1.8 percent annual decline in the previous month. (Table 5)

Oils and fats retained its previous month’s inflation rate at 0.1 percent.

2.2 Main Contributors to the Food Inflation

Food inflation contributed 42.3 percent share or 1.5 percentage point to the December 2024 overall inflation for this particular income group.

Among the food groups, the main contributors to the food inflation during the month were the following:

a. Cereals and cereal products, which includes rice, corn, flour, bread and other bakery products, pasta products, and other cereals with 75.2 percent share or 2.6 percentage points;
b. Meat and other parts of slaughtered land animals with 18.5 percent share or 0.6 percentage point; and
c. Fruits and nuts with 10.6 percent share or 0.4 percentage point.

Table B. Year-on-Year Inflation Rates for the Bottom 30% Income Households in the Province of Cebu, All Items
In Percent
January 2019 – December 2024
(2018=100)

Approved by:

MELCHOR B. BAUTISTA
Chief Statistical Specialist

MJG/KST