PRICE SITUATION: Year-on-Year
Camarines Norte’s inflation for the month of September 2024 is recorded at 0.3 percent, notably lower than the 8.5 percent posted in the same period a year ago. However, this month’s inflation is lower by 2.6 percent than the 2.9 percent recorded in August 2024.
The year-on-year situation is registered at 0.31 percent in all items index as an effect of the price movement in most commodities and service groups in September 2024 compared to the same period last year. Most of the following commodity groups reflected an increase: Personal Care, and Miscellaneous Goods and Services with 6.6 percent change (117.5 to 125.3); Recreation, Sport, and Culture with 6.0 percent change (122.4 to 129.7); Clothing and Footwear with 5.6 percent change (115.3 to 121.8); Furnishings Household Equipment and Routine Maintenance of the House with 3.8 percent change (120.7 to 125.3); Restaurant and Accommodation Services with 3.7percent change (160.9 to 166.8); Education Services with 2.6 percent change (109.8 to 112.7); and Information and Communication with 0.4 percent change (101.6 to 102.0). On the contrary, a decrease was recorded in the price index of Housing, Water, Electricity, Gas, and Other Fuels with 2.6 percent change (113.9 to 110.9); Transport with 2.2 percent change (155.3 to 151.9); Alcoholic Beverages and Tobacco with 1.6 percent change (193.2 to 190.2); Health with 0.3 percent change (132.0 to 131.6). Food and Non-alcoholic Beverages with 0.2 percent change (126.3 to 126.1); and Financial Services with 0.1 percent change (146.0 to 145.9).
PRICE SITUATION: Month-on-Month
In the month-on-month comparison, the consumer price index in All Items is posted at 126.1 which may be attributed to the slight change in prices of some commodities during the period.
Compared to the previous month, an increase in the price index of commodities was observed in Recreation, Sport and Culture with 2.4 percent change (126.6 to 129.7); Furnishings Household Equipment and Routine Maintenance of the House with 0.5 percent change (124.7 to 125.3); Personal Care, and Miscellaneous Goods and Services with 0.4 percent change (124.8 to 125.3); and Clothing and Footwear with 0.2 percent change (121.5 to 121.8). On the other hand, a decrease was recorded in the price index of Transport with 0.7 percent change (153.0 to 151.9); Food and Non-alcoholic Beverages with 0.5 percent (126.7 to 126.1); Alcoholic Beverages and Tobacco with 0.4 percent (191.0 to 190.2) and Health with 0.1 percent change (131.7 to 131.6). Meanwhile, a stable price index was noted in Housing, Water, Electricity, Gas, and Other Fuels (110.9); Information and Communication (102.0); Education Services (112.7); Restaurant and Accommodation Services (166.8); and Financial Services (145.9).
With such price changes reflected in the CPI, the purchasing power of the peso (PPP) in the province for the month of September 2024 is posted at 0.77.
