The inflation rate (IR) in Biliran Province slowed down further to 2.4 percent in September 2024, from 5.0 percent in August 2024. The average IR from January to September 2024 stood at 4.6 percent. Meanwhile, the inflation rate in September 2023 was higher at 2.7 percent. (Figure 1, Table A and Table B)

The downtrend in the province’s inflation in September 2024 was primarily influenced by slower IR in the food and non-alcoholic beverages group at 2.1 percent from 5.5 percent in the previous month. Housing, water, electricity, gas and other fuels group came in next with slower rate of 5.4 percent during the month from 7.9 percent in the previous month. Also contributing to the downtrend was transport with a faster year-on-year decrease of 5.1 percent in September 2024 from an annual drop of 2.4 percent in August 2024. These commodity groups accounted for 62.8 percent, 15.6 percent, and 10.9 percent share to the downtrend in the inflation rate in the province, respectively.

Other commodity groups that recorded lower year-on-year price movements in September 2024 were the following:

             a. Alcoholic beverages and tobacco at 3.3 percent from 3.9 percent;
             b. Clothing and footwear at 5.7 percent from 6.3 percent;
             c. Recreation, sport, and culture at 7.9 percent from 8.1 percent;
             d. Education services at 0.0 percent from 6.3 percent; and
             e. Restaurants and accommodation services at 4.9 percent from 9.0 percent.

In contrast, the following commodity group registered higher inflation rates during the month:

            a. Furnishings, household equipment, and routine household maintenance at 4.4 percent  from 4.0 percent;
            b. Health at 2.4 percent from 2.3 percent; and
            c. Information and communication at 2.2 percent from 1.8 percent.

The rest of the commodity groups retained their previous month’s respective annual rates. (Table A)

The food inflation slowed down further to 1.8 percent in September 2024 from 5.5 percent in the previous month. In September 2023, the food inflation was higher at 7.4 percent.

The deceleration of food inflation in September 2024 was mainly brought about by slower IR in rice with 2.8 percent from 18.9 percent in the previous month. This was followed by vegetables, tubers, plantains, cooking bananas, and pulses with annual price decrease of 5.0 percent during the month from an annual increase of 3.9 percent in the previous month. Ready-made food and other products n.e.c. also contributed to the downtrend with 10.0 percent in September 2024 from 10.8 percent in August 2024.

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

            a. Corn at 10.7 percent from 20.4 percent;
           b. Flour, bread, and other bakery products, pasta products, and other cereals at 3.4 percent  from 3.8 percent;
            c. Milk, other dairy products and eggs at 3.1 percent from 3.2 percent; and
            d. Oils and fats at 3.8 percent from 5.0 percent.

Moreover, faster annual decline was recorded in sugar, confectionery and desserts at 1.4 percent during the month from an annual decrease of 0.5 percent in the previous month. On the other hand, fish and other seafood recorded higher IR with annual decrease of 1.6 percent from an annual decline of 5.8 percent in August 2024.

On the contrary, higher year-on-year IR was observed in the meat and other parts of slaughtered land animals group and fruits and nuts group at 1.6 percent and 12.7 percent in September 2024 from an IR of 0.8 percent and 8.1 percent in August 2024, respectively.

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

Approved for release:

SGD. RENAVIL V. CUEVA
Chief Statistical Specialist

MMCM/PDP