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 headline or overall inflation rate for the bottom 30% income households slowed down to 2.5 percent in September 2024 from 4.7 percent in August 2024. This is the lowest inflation rate for this particular income group since the 2.2 percent inflation rate recorded in May 2020. The average inflation rate for the bottom 30% income households from January to September 2024 is 4.6 percent. In September 2023, inflation rate was posted at 6.9 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 slowed down further to 1.8 percent in September 2024 from 5.2 percent in August 2024. This is the lowest inflation rate for this particular income group since the 0.7 percent inflation rate recorded in July 2021. The region’s average inflation rate for the bottom 30% income households from January to September 2024 stood at 4.4 percent. In September 2023, the inflation rate in the region was higher which posted at 6.1 percent. (Table A)
C. City of Lapu-Lapu
1. Headline Inflation
The headline inflation rate for the bottom 30% income households in the City of Lapu-Lapu slowed down further to 3.7 percent in September 2024 from 6.6 percent in August 2024. This brings the city’s average inflation at 7.3 percent from January to September 2024. In September 2023, the inflation rate was higher at 5.0 percent. (Table A and Figure 1)
1.1 Main Drivers to the Downward Trend of Headline Inflation in the City of Lapu-Lapu
The main drivers to the downtrend of the headline inflation rate during the month for bottom 30% income households were mainly brought by the slower year-on-year increases of food and non-alcoholic beverages at 0.4 percent, housing, water, electricity, gas and other fuels at 6.6 percent, and restaurants and accommodation services at 14.4 percent from their respective inflation rates at 4.0 percent, 10.1 percent and 17.4 percent in the previous month. (Table 3)
In addition, slower annual increments were also noted in the indices of the following commodity groups:
a. Transport, 3.2 percent from 4.5 percent;
b. Furnishings, household equipment and routine household maintenance, 2.5 percent from 3.4 percent;
c. Personal care, and miscellaneous goods and services, 7.4 percent from 7.6 percent;
d. Health, 3.7 percent from 3.9 percent;
e. Clothing and footwear, 2.9 percent from 3.0 percent; and
f. Recreation, sport and culture, 15.8 percent from 16.1 percent. (Table 3)
Commodity groups that retained their previous month’s inflation rates were the following:
a. Alcoholic beverages and tobacco, 2.8 percent;
b. Information and communication, 2.3 percent;
c. Education services, 2.3 percent; and
d. Financial services, 0.0 percent.
1.2 Main Contributors to the Headline Inflation
The following commodity groups were the top three contributors to the September 2024 overall inflation for the bottom 30% income households in the City of Lapu-Lapu:
a) Restaurants and accommodation services with 39.6 percent share or 1.5 percentage points;
b) Housing, water, electricity, gas and other fuels with 31.6 percent share or 1.2 percentage points; and
c) Personal care, and miscellaneous goods and services with 9.9 percent share or 0.4 percentage point.
2. Food Inflation
Food inflation rate for the bottom 30% income households in the City of Lapu-Lapu slowed down to 0.3 percent in September 2024 from 4.2 percent in August 2024. In September 2023, food inflation rate stood at 6.6 percent. (Table 7)
2.1 Main Drivers to the Downtrend of Food Inflation
The downtrend of food inflation during the month was primarily driven by the slower year-on-year increase of rice food group at 1.7 percent from 8.7 percent in the previous month. Corn food group without price movement during the month and vegetables, tubers, plantains, cooking bananas and pulses with faster annual decrease of 23.5 also contributed to the downtrend food inflation from their respective annual increase at 72.2 percent and annual drop of 0.9 percent in August 2024.
Moreover, slower annual increments were also noted in the indices of meat and other parts of slaughtered land animals at 6.2 percent, and flour, bread, and other bakery products, pasta products and other cereals at 2.0 percent from their respective inflation rates at 7.7 percent and 2.6 percent in the previous month.
In contrast, faster annual increments were observed in the indices of milk, other dairy products and eggs at 6.2 percent, fruits and nuts at 23.5 percent, and ready-made food and other food products not elsewhere classified at 8.4 percent from their respective inflation rates at 1.9 percent, 19.5 percent, and 8.2 percent in August 2024. (Table 5)
Slower annual decrements were noted in the indices of fish and other seafood at 6.5 percent and sugar, confectionery and desserts at 0.3 percent from their respective year-on-year decreases of 12.1 percent and 0.9 percent in August 2024.
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 4.1 percent share or 0.2 percentage point to the September 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. Meat and other parts of slaughtered land animals with 130.5 percent share or 0.4 percentage point;
b. Fruits and nuts with 119.3 percent share or 0.4 percentage point; and
c. Cereals and cereal products, which includes rice, corn, flour, bread and other bakery products, pasta products, and other cereals with 109.4 percent share or 0.3 percentage point.
Table B. Year-on-Year Inflation Rates for the Bottom 30% Income Households in the City of Lapu-Lapu, All Items
In Percent
January 2019 – September 2024
(2018=100)
Approved by:
MELCHOR B. BAUTISTA
Chief Statistical Specialist
KST/MLA
