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

Source: Philippine Statistics Authority, Retail Price Survey of Commodities for the Generation of Consumer Price Index
*Year-on-year change of CPI for January to November 2024 vs. 2023

Source: Philippine Statistics Authority, Retail Price Survey of Commodities for the Generation of Consumer Price Index

A.    The Philippines

The country’s inflation rate for the bottom 30% income households slowed down to 2.9 percent in November 2024 from 3.4 percent in October 2024. This brings the average inflation from January to November 2024 for this income group to 4.3 percent. In November 2023, the inflation rate was posted at 4.9 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 had slowed down to 3.1 percent in November 2024 from 3.6 percent in October 2024. The average inflation rate for the region from January to November 2024 was recorded at 4.2 percent.  In November 2023, inflation rate in the region was higher which posted at 4.0 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 increased to 3.8 percent in November 2024 from 3.5 percent in October 2024. This brings the average inflation rate from January to November 2024 for this income group to 2.5 percent. In November 2023, inflation rate was recorded at 1.2 percent.  (Table A and Figure 1)

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

The main drivers to the upward trend of the headline inflation in November 2024 for bottom 30% income households were the faster year-on-year increments of the indices of food and non-alcoholic beverages at 6.0 percent, and personal care, and miscellaneous goods and services at 2.8 percent from their respective inflation rates of 5.2 percent and 2.0 percent in the previous month. (Table 3)

Furthermore, other commodity groups that also recorded faster annual increases were housing, water, electricity, gas and other fuels at 1.3 percent, and health at 4.1 percent during the month from their respective inflation rates at 1.2 percent and 4.0 percent in the previous month. 

On the other hand, slower annual increments were observed during the month in the indices of the following commodity groups:

a. Alcoholic beverages and tobacco, 2.8 percent from 4.7 percent;
b. Clothing and footwear, 0.8 percent from 1.1 percent;
c. Furnishings, household equipment and routine household maintenance, 1.4 percent from 1.5 percent; and
c. Recreation, sport and culture, 5.4 percent from 6.1 percent.

Meanwhile, transport commodity group posted a faster annual decrease at 0.6 percent during the month from an annual increase of 0.9 percent in the previous month.

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

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

1.2    Main Contributors to the Headline Inflation

The commodity groups which were the top contributors to the November 2024 overall inflation for the bottom 30% income households in the Province of Cebu:

a.    Food and non-alcoholic beverages with 82.2 percent share or 3.1 percentage points;
b.    Housing, water, electricity, gas and other fuels with 6.0 percent share or 0.2 percentage point; and
c.    Personal care, miscellaneous goods and services with 3.8 percent share or 0.2 percentage point.

2. Food Inflation

Food inflation rate for the bottom 30% income households in the Province of Cebu increased to 6.2 percent in November 2024 from 5.4 percent in October 2024. In November 2023, food inflation stood at 0.7 percent annual decline. (Table 7)

2.1    Main Drivers to the Uptrend of Food Inflation

The uptrend of food inflation in November 2024 was brought by the faster year-on-year increment of vegetables, tubers, plantains, cooking bananas and pulses at 9.0 percent from an annual drop of 4.8 percent in October 2024. This was followed by fish and other seafood at 1.8 percent annual decrease during the month from 3.9 percent annual decline in the previous month. 

In addition, corn index posted a faster annual increase at 23.5 percent during the month from 19.8 percent in the previous month. (Table 5)

In contrast, food groups that recorded lower inflation rates were as follows:

a. Rice, -2.1 percent from 4.0 percent;
b. Flour, bread, and other bakery products, pasta products and other cereals, 2.5 percent from 3.0 percent;
c. Fruits and nuts, 13.5 percent from 14.7 percent;
d. Milk, other dairy products and eggs, 2.9 percent from 4.2 percent;
e. Sugar, confectionery and desserts, -7.3 percent from -6.4 percent; and
f. Ready-made food and other food products not elsewhere classified, 3.6 percent from 5.7 percent. (Table 5)

Meat, and other parts of slaughtered land animals, and oils and fats retained their respective previous month’s food inflation rates at 5.2 percent and  0.1 percent. (Table 5)

2.2 Main Contributors to the Food Inflation

Food inflation contributed 78.7 percent share or 3.0 percentage points to the November 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 75.8 percent share or 4.7 percentage points;
b.    Meat and other parts of slaughtered land animals with 10.2 percent share or 0.6 percentage point; and
c.    Vegetables, tubers, plantains, cooking bananas and pulses with 9.8 percent share or 0.6 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 – November 2024
(2018=100)

Source: Philippine Statistics Authority, Retail Price Survey of Commodities for the Generation of Consumer Price Index

Approved by:

MELCHOR B. BAUTISTA
Chief Statistical Specialist

LGS/KST