The inflation rate (IR) in Biliran Province decreased to 2.8 percent in November 2024, from 4.2 percent in October 2024. The average IR from January to November 2024 stood at 4.4 percent. Meanwhile, the inflation rate in November 2023 was lower at 2.3 percent. (Figure 1, Table A and Table B)

The downtrend in the province’s inflation in November 2024 was primarily influenced by lower IR in the housing, water, electricity, gas and other fuels with an annual decrease of 0.3 percent from 10.4 percent annual increase in October 2024. Also contributing to the downtrend was alcoholic beverages and tobacco with 2.5 percent annual decline during the month from 3.3 percent annual increase in the previous month. These commodity groups accounted for 98.8 percent and 1.2 percent share to the downtrend in the inflation rate in the province, respectively.

On the other hand, commodity groups that recorded higher year-on-year price movements in November 2024 were the following:

a. Food and non-alcoholic beverages at 3.7 percent from 3.6 percent;
b. Clothing and footwear at 6.2 percent from 5.9 percent;
c. Furnishings, household equipment and routine household maintenance at
5.7 percent from 5.6 percent;
d. Health at 3.2 percent from 3.1 percent;
e. Information and communication at 2.7 percent from 2.6 percent;
f. Recreation, sport and culture at 9.2 percent from 8.8 percent; and
g. Personal care, and miscellaneous goods and services at 7.1 percent from 6.5 percent.

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

a. Education services at 0.0 percent;
b. Restaurants and accommodation services at 4.9 percent; and
c. Financial services at -0.1 percent.

Moreover, slower annual decline was recorded in transport at 2.3 percent in November 2024 from 3.9 percent annual decline in October 2024.

The food inflation slightly increased to 3.6 percent in November 2024 from 3.5 percent in the previous month. In November 2023, the food inflation was higher at 6.6 percent.

The acceleration of food inflation in November 2024 was mainly influenced by higher IR of rice at 5.5 percent from 3.7 percent in October 2024. This was followed by fish and other seafood; and milk, other dairy products and eggs with an IR of 4.0 percent and 3.5 percent during the month from 3.2 percent and 3.1 percent in the previous month, respectively.

Meanwhile, the vegetables, tubers, plantains, cooking bananas and pulses as well as the sugar, confectionery and desserts recorded a 1.0 percent and 0.3 percent inflation in November 2024 from 3.7 percent and 0.7 percent annual decreases in the previous month, respectively.

On the contrary, slower year-on-year IR was observed in the following food items:

a. Flour, bread and other bakery products, pasta products and other cereals at
3.3 percent from 3.4 percent;
b. Oils and fats at 3.3 percent from 3.9 percent;
c. Fruits and nuts at 5.4 percent from 14.6 percent; and
d. Ready-made food and other food products not elsewhere classified at 7.8 percent from 8.9 percent.

Moreover, faster annual decrease was recorded in corn at 4.1 percent in November 2024 from an annual increase of 2.5 percent inflation in October 2024. Meat and other parts of slaughtered land animals also recorded an annual decrease of 0.1 percent inflation during the month from 2.9 percent inflation annual increase in the previous month.

Approved for release:
 

SGD. RENAVIL V. CUEVA

Chief Statistical Specialist