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 eased to 3.1 percent in November 2024 to 3.6 percent in October 2024. This brings the region’s average inflation from January to November 2024 for this income group to 4.2 percent. In November 2023, the inflation rate in the region recorded at 4.0 percent. (Table A)
C. City of Mandaue
1. Headline Inflation
The headline inflation rate for the bottom 30% income households in the City of Mandaue had a slower increase at 1.3 percent in November 2024 from 2.9 percent in October. This brings the city’s average inflation rate from January to November 2024 at 8.0 percent. In November 2023, the inflation rate was recorded at 10.4 percent. (Table A and Figure 1)
1.1 Main Drivers to the Downward Trend of Headline Inflation in the City of Mandaue
The deceleration of the headline inflation rate during the month was mainly brought by the slower year-on-year increases of food and non-alcoholic beverages at 2.0 percent, and housing, water, electricity, gas and other fuels at 1.3 percent from their respective inflation rates at 3.7 percent and 4.8 percent in October 2024. Also contributed to the headline inflation was the no price movement in restaurants and accommodation services during the month from 0.9 percent annual increase in October 2024. (Table 3)
In addition, slower annual increments were also noted in the following commodity groups during the month:
a. Health, 2.4 percent from 3.4 percent;
b. Furnishings, household equipment and routine household maintenance, 1.7 percent from 2.0 percent;
c. Personal care, and miscellaneous goods and services, 1.5 percent from 1.8 percent; and
d. Recreation, sport and culture,0.3 percent from 0.7 percent. (Table 3)
In contrast, faster annual increase was recorded in alcoholic beverages and tobacco at 0.4 percent in November 2024 from 0.2 percent in October 2024 while transport had a slower year-on-year decrease of 0.8 percent in November 2024 from 1.5 percent annual drop in October 2024. (Table 3)
Moreover, clothing and footwear index retained its previous month’s inflation rate at 0.9 percent. (Table 3)
Meanwhile, no price movements were also posted in the indices of information and communication, education services, and financial services. (Table 3)
1.2 Main Contributors to the Headline Inflation
The following commodity groups were the top three contributors to the November 2024 overall inflation for the bottom 30% income households in the City of Mandaue:
a) Food and non-alcoholic beverages with 76.1 percent share or 1.0 percentage point;
b) Housing, water, electricity, gas and other fuels with 16.9 percent share or 0.2 percentage point; and
c) Health with 4.0 percent share or 0.1 percentage point.
2. Food Inflation
Food inflation rate for the bottom 30% income households in the City of Mandaue had a slower increase at 2.3 percent in November 2024 from 4.0 percent in October 2024. In November 2023, the food inflation stood at 8.0 percent. (Table 7)
2.1 Main Drivers to the Downtrend of Food Inflation
The downtrend in the food inflation in November 2024 was primarily driven by the slower annual increases of rice at 0.1 percent, fish and other seafood at 2.0 percent, and fruits and nuts at 6.6 percent from their previous month’s respective inflation rates at 4.0 percent, 4.9 percent, and 13.0 percent. (Table 5)
In addition, slower year-on-year increments were also posted in the following food groups during the month:
a. Meat and other parts of slaughtered land animals, 3.2 percent from 4.2 percent;
b. Milk, other dairy products and eggs, 3.5 percent from 4.2 percent; and
c. Ready-made food and other food products not elsewhere classified, 3.6 percent from 4.2 percent. (Table 5)
In contrast, higher inflation rates were observed in the following food groups in November 2024:
a. Corn, 28.2 percent from 14.1 percent;
b. Flour, bread and other bakery products, pasta products, and other cereals, 0.8 percent from 0.6 percent;
c. Vegetables, tubers, plantains, cooking bananas and pulses, 1.3 percent from -1.0 percent; and
d. Sugar, confectionary and desserts, -6.9 percent from -7.1 percent. (Table 5)
Moreover, there is no price movement in oils and fats index. (Table 5)
2.2 Main Contributors to the Food Inflation
Food inflation contributed 74.8 percent share or 1.0 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 41.1 percent share or 0.9 percentage point;
b. Meat and other parts of slaughtered land animals with 21.3 percent share or 0.5 percentage point; and
c. Milk, other dairy products and eggs with 13.4 percent share or 0.3 percentage point.
Table B. Year-on-Year Inflation Rates for the Bottom 30% Income Households in the City of Mandaue, 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/MJDG
