The inflation rate (IR) in Biliran Province decreased to 1.9 percent in December 2024, from 2.8 percent in November 2024. The annual average inflation rate in the province for the year 2024 stood at 4.2 percent, which was higher by 1.8 percentage points than the 2023 annual average inflation rate of 2.4 percent. Meanwhile, the inflation rate in December 2023 was higher at 4.0 percent. (Figure 1, Table A and Table B)

The downtrend in the province’s inflation in December 2024 was primarily influenced by lower IR in the food and non-alcoholic beverages with 1.1 percent from 3.7 percent in November 2024. Alcoholic beverages and tobacco came in next with 2.2 percent during the month from 2.5 percent in the previous month. Also contributing to the downtrend was recreation, sport and culture with 8.8 percent from 9.2 percent. These commodity groups accounted for 98.8 percent, 0.6 percent, and 0.6 percent share to the downtrend in the inflation rate in the province, respectively.

On the other hand, higher year-on-year price movements in December 2024 were observed in furnishings, household equipment and routine household maintenance; and health with an IR of 5.8 percent and 3.4 percent in December 2024 from 5.7 percent and 3.2 percent in November 2024, respectively.

Meanwhile, the following commodity group retained their previous month’s respective annual rates (Table A):

a. Clothing and footwear at 6.2 percent;
b. Information and communication at 2.7 percent;
c. Education services at 0.0 percent;
d. Restaurants and accommodation services at 4.9 percent;
e. Financial services at -0.1 percent; and
f. Personal care, and miscellaneous goods and services at 7.1 percent.

The housing, water, electricity, gas and other fuels recorded an annual increase of 0.3 percent in December 2024 from an annual decrease of 0.3 percent in November 2024.

Meanwhile, slower annual decline was recorded in transport at 0.8 percent during the month from 2.3 percent annual decrease in the previous month.

The food inflation in the province significantly decreased to 0.7 percent in December 2024 from 3.6 percent in November 2024. In December 2023, the food inflation was higher at 6.7 percent.

The deceleration of food inflation in December 2024 was mainly influenced by year-on-year decrease of cereals and cereal products at 0.1 percent from 5.0 percent in November 2024. This was followed by fish and other seafood with annual decrease of 2.1 percent during the month from an annual increase of 4.0 percent in the previous month. Vegetables, tubers, plantains, cooking bananas and pulses also contributed to the downtrend with 0.2 percent during the month from 1.0 percent in the previous month.

Rice, the central commodity of Filipinos, exhibited annual decrease in its inflation rate at 0.6 percent in December 2024 from an annual increase of 5.5 percent in November 2024.

Other food items that contributed to the lower food inflation are as follows:

a. Flour, bread and other bakery products, pasta products and other cereals at 3.1 percent from 3.3 percent;
b. Milk, other dairy products and eggs at 3.0 percent from 3.5 percent; and
c. Ready-made food and other food products not elsewhere classified at 7.6 percent from 7.8 percent.

On the contrary, meat and other parts of slaughtered land animals recorded an annual increase of 1.1 percent December 2024 from an annual decline of 0.1 percent in November 2024. Additionally, fruits and nuts significantly increased by 10.2 percent during the month from 5.4 percent in the previous month.

Meanwhile, the rest of the food items retained their CPI levels from the previous month.

Approved for release:
 

SGD. RENAVIL V. CUEVA

Chief Statistical Specialist