PRICE SITUATION: YEAR-ON-YEAR
Inflation Rate in Catanduanes accelerates to 5.3 in April 2024
The Inflation Rate (IR) for all income households in Catanduanes accelerated to 5.3 percent in April 2024. Inflation rate was recorded at 4.9 percent in March 2024 and 5.6 percent in April 2023.
Among the thirteen commodity groups, Food and Non-Alcoholic has the highest inflation rate of 7.6 percent during the month. Other commodity groups that showed higher inflation rates during the month were the following:
a. Clothing and Footwear, 7.3 percent;
b. Restaurants and Accommodation Services, 6.2 percent;
c. Personal Care, and Miscellaneous Goods and Services, 5.4 percent
d. Recreation, Sport and Culture, 4.4 percent;
e. Furnishings, Household Equipment and Routine Household Maintenance, 4.2 percent;
f. Transport, 3.7 percent;
g. Alcoholic Beverages, Tobacco, 3.4 percent;
h. Health, 3.2 percent;
i. Housing, Water, Electricity, Gas and Other Fuels, 1.4 percent
j. Education, 1.0 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 7.9 percent in April 2024, from 7.3 percent in March 2024. In April 2023, food inflation was registered at 8.5 percent.
Among the food commodity groups, Cereals and Cereal Products has the highest inflation rate at 20.6 percent in April 2024. In addition, Fruits and Nuts group also recorded a higher inflation rate at 7.6 percent.
Other food commodity groups that showed higher annual increments were the following:
a. Ready-Made Food and Other Food Products N.E.C., 4.6 percent
b. Milk, Other Dairy Products, and Eggs, 3.3 percent;
c. Non-alcoholic Beverages, 3.0 percent;
d. Meat and Other Parts of Slaughtered Land Animals, 0.8 percent; and
e. Fish and Other Seafood, 0.7 percent
Meanwhile, the following food commodity groups registered a decrease in inflation rate during the month:
a. Oils and Fats, -2.6 percent; and
b. Sugar, Confectionery and Desserts, -0.9 percent
Vegetables, Tubers, Cooking Bananas and Pulses recorded a zero percent annual change.
The indices for Rice exhibited a higher annual increase of 31.2 percent while indices for Corn recorded a -7.7 percent annual rate. Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals commodity groups recorded a -0.5 percent annual rate during the month.
PRICE SITUATION: MONTH-ON-MONTH
On a month-on-month basis, general prices of consumer remained the same during the month.
The following Commodity Groups recorded a higher inflation during the month:
a. Furnishings, Household Equipment and Routine Household Maintenance, 2.2 percent;
b. Transport, 1.2 percent;
c. Personal Care, and Miscellaneous Goods and Services, 0.9 percent;
d. Clothing and Footwear, 0.7 percent;
e. Alcoholic Beverages, Tobacco, 0.4 percent;
f. Housing, Water, Electricity, Gas and Other Fuels, 0.4 percent;
g. Recreation, Sport and Culture, 0.1 percent; and
h. Restaurants and Accommodation Services, 0.1 percent
Meanwhile, the following commodity groups recorded a lower inflation during the month:
a. Food and Non-Alcoholic Beverages, -0.7 percent
b. Health, -0.3 percent
The following commodity groups retained its price indices during the month:
a. Financial Services
b. Education Services
c. Information and Communication
