PRICE SITUATION: YEAR-ON-YEAR

Inflation Rate in Catanduanes decelerates to 4.5 in May 2024.

The Inflation Rate (IR) for all income households in Catanduanes decelerated to 4.5 percent in May 2024. Inflation rate was recorded at 5.3 percent in April 2024 and 5.4 percent in May 2023.  

Among the thirteen commodity groups, Clothing and Footwear has the highest inflation rate of 7.1 percent during the month. Other commodity groups that showed higher inflation rates during the month were the following:
a.    Food and Non-Alcoholic Beverages, 5.8 percent;
b.    Health, 5.8 percent; 
c.    Personal Care, and Miscellaneous Goods and Services, 5.8 percent
d.    Restaurants and Accommodation Services, 5.7 percent;
e.    Furnishings, Household Equipment and Routine Household Maintenance, 4.8 percent; 
f.    Transport, 4.4 percent;
g.    Recreation, Sport and Culture, 4.1 percent;
h.    Alcoholic Beverages and Tobacco, 2.2 percent;
i.    Education Services, 1.0 percent
j.    Housing, Water, Electricity, Gas and Other Fuels, 0.4 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 6.2 percent in May 2024, from 7.9 percent in April 2024. In May 2023, food inflation was registered at 7.9 percent.

Among the food commodity groups, Cereals and Cereal Products has the highest inflation rate at 18.4 percent in May 2024. In addition, Ready-Made Food and Other Food Products N.E.C. group also recorded a higher inflation rate at 4.9 percent.

Other food commodity groups that showed higher annual increments were the following:
a.    Milk, Other Dairy Products, and Eggs, 3.9 percent;
b.    Non-alcoholic Beverages, 2.3 percent; and
c.    Fruits and Nuts, 1.7 percent

Meanwhile, the following food commodity groups registered a decrease in inflation rate during the month:
a.    Sugar, Confectionery and Desserts, -3.7 percent;
b.    Oils and Fats, -2.9 percent;
c.    Vegetables, Tubers, Cooking Bananas and Pulses, -1.5 percent;
d.    Meat and Other Parts of Slaughtered Land Animals, -1.1 percent; and
e.    Fish and Other Seafood, -0.5 percent

The indices for Rice exhibited a higher annual increase of 27.8 percent while indices for Corn recorded a -28.6 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 items decelerated to -0.4 percent.

The following Commodity Groups recorded a higher inflation during the month: 
a.    Health, 2.1 percent;
b.    Clothing and Footwear, 0.9 percent;
c.    Personal Care, and Miscellaneous Goods and Services, 0.5 percent;
d.    Furnishings, Household Equipment and Routine Household Maintenance, 0.5 percent;
e.    Alcoholic Beverages, Tobacco, 0.4 percent;
f.    Restaurants and Accommodation Services, 0.4 percent; and
g.    Recreation, Sport and Culture, 0.2 percent

Meanwhile, the following commodity groups recorded a lower inflation during the month:
a.    Food and Non-Alcoholic Beverages, -1.1 percent;
b.    Transport, -0.2 percent
c.    Housing, Water, Electricity, Gas and Other Fuels, -0.2 percent

The following commodity groups retained its price indices during the month:
a.    Financial Services
b.    Education Services
c.    Information and Communication