PRICE SITUATION: YEAR-ON-YEAR

Inflation Rate in Catanduanes accelerates to 4.9 in March 2024

The Inflation Rate (IR) for all income households in Catanduanes accelerated to 4.9 percent in March 2024. Inflation rate was recorded at 4.6 percent in February 2024 and 6.2 percent in March 2023.  
Among the thirteen commodity groups, Food and Non-Alcoholic has the highest inflation rate of 7.0 percent during the month. Other commodity groups that showed higher inflation rates during the month were the following:
a.    Alcoholic Beverages, Tobacco, 6.9 percent;
b.    Clothing and Footwear, 6.4 percent;
c.    Restaurants and Accommodation Services, 6.1 percent; 
d.    Recreation, Sport and Culture, 5.6 percent;
e.    Personal Care, and Miscellaneous Goods and Services, 4.7 percent
f.    Health, 3.5 percent;
g.    Transport, 2.6 percent;
h.    Furnishings, Household Equipment and Routine Household Maintenance, 2.0 percent; 
i.    Education, 1.0 percent; 
j.    Housing, Water, Electricity, Gas and Other Fuels, 0.5 percent and
k.    Information and Communication, 0.3 percent
Meanwhile, Financial Services index continued to record zero percent annual rate.

Food inflation in the province, likewise accelerated to 7.3 percent in March 2024, from 7.0 percent in February 2024. In March 2023, food inflation was registered at 9.5 percent. 
Among the food commodity groups, Cereals and Cereal Products has the highest inflation rate at 24.3 percent in March 2024. In addition, Fruits and Nuts group also recorded a higher inflation rate at 8.5 percent.

Other food commodity groups that showed higher annual increments were the following:
a.    Ready-Made Food and Other Food Products N.E.C., 4.4 percent
b.    Non-alcoholic Beverages, 3.7 percent; 
c.    Milk, Other Dairy Products, and Eggs, 1.9 percent; and
d.    Sugar, Confectionery and Desserts, 0.8 percent

Meanwhile, the following food commodity groups registered a decrease in inflation rate during the month:

a.    Vegetables, Tubers, Cooking Bananas and Pulses, -8.8 percent;
b.    Oils and Fats, -2.6 percent;
c.    Fish and Other Seafood, -2.3 percent; and
d.    Meat and Other Parts of Slaughtered Land Animals, -0.3 percent
The indices for Rice exhibited a higher annual increase of 36.6 percent while indices for Corn recorded a -15.4 percent annual rate. Flour, Bread and Other Bakery Products, Pasta Products,  and Other Cereals commodity groups retain its indices during the month.

PRICE SITUATION: MONTH-ON-MONTH

On a month-on-month basis, general prices of consumer items decelerated to -0.1 percent.

The following Commodity Groups recorded a lower inflation during the month:

a.    Food and Non-Alcoholic Beverages, -0.5 percent
b.    Housing, Water, Electricity, Gas and Other Fuels, -0.3 percent and
c.    Clothing and Footwear, -0.1 percent;

Meanwhile, the following commodity groups recorded a higher inflation during the month:
a.    Recreation, Sport and Culture, 1.7 percent
b.    Furnishings, Household Equipment and Routine Household Maintenance, 0.6 percent;
c.    Information and Communication, 0.4 percent
d.    Restaurants and Accommodation Services, 0.4 percent
e.    Health, 0.3 percent
f.    Personal Care, and Miscellaneous Goods and Services, 0.3 percent
g.    Transport, 0.2 percent and
h.    Alcoholic Beverages, Tobacco, 0.1 percent
The following commodity groups retained its price indices during the month:
a.    Financial Services
b.    Education Services