The annual inflation of Central Luzon retained its inflation from May 2024 at 4.5 percent for the month of June 2024. Nonetheless, the inflation for June 2024 is still lower than the inflation recorded for the same period in 2023 with 5.9 percent. (Figure 1)

Among the 17 regions, Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) recorded the highest inflation rate at 5.3 percent in June 2024. It was followed by the Zamboanga Peninsula, with an inflation rate of 5.2 percent, and Northern Mindanao at 5.0 percent. Central Luzon ranked seventh highest among all regions. Recording the lowest inflation was National Capital Region at 2.3 percent in June 2024. (Figure 2)

While, the country’s inflation rate decreased from 3.9 percent in May 2024 to 3.7 percent in June 2024.

Figure 2 shows the annual inflation rates of the different regions in the Philippines in June 2024.

An upward trend was observed in only one commodity group which is food and non-alcoholic beverages with 5.9 percent from 5.5 percent.

Conversely, slower increments in the following indices were observed in June 2024:
•    Information and communication, 0.5 percent from 0.6 percent;
•    Housing, water, electricity, gas and other fuels, 2.4 percent from 2.6 percent;
•    Furnishings, household equipment and routine household maintenance, 2.7 percent from 2.9 percent; 
•    Transport, 3.4 percent from 3.9 percent;
•    Personal care, and miscellaneous goods and services, 3.8 percent from 4.0 percent.
•    Alcoholic beverages and tobacco, 3.8 percent from 4.4 percent;
•    Clothing and footwear, 3.8 percent from 4.5 percent
•    Health, 3.8 percent from 3.9 percent;
•    Restaurants and accommodation services, 7.2 percent from 7.7 percent;

Meanwhile, the following commodity groups remained to have constant inflation rates:
•    Education services, 6.1 percent; 
•    Recreation, sport and culture, 4.4 percent; and
•    Financial services, -0.3 percent.

The annual growth rate in the regional food index registered a faster rate of increase at 6.4 percent in June 2024 from 5.8 percent in May 2024.

This increase could be attributed to the faster rate of acceleration in the following indices:
•    Meat and other parts of slaughtered land animals, 3.9 percent from 0.7 percent; and
•    Vegetables, tubers, plantains, cooking bananas, and pulses, 12.0 percent from 5.6 percent; and 
•    Ready-made food and other food products n.e.c., 4.8 percent from 4.7 percent.

Moreover, the slower annual decline on the index of oils and fats also contributed to the uptrend in food inflation, from -6.0 percent to -5.6 percent.

On the other hand, a slower rate of increase was noted in the following indices:
•    Cereals and cereal products, 17.1 percent from 18.0 percent; and
•    Fruits and nuts, 3.8 percent from 6.6 percent.

Meanwhile, the following indices posted negative inflation:
•    Sugar, confectionary and desserts, -1.0 percent from -0.6 percent;
•    Fish and other seafood, -1.4 percent from -0.1 percent; and 
•    Milk, other dairy products and eggs, -1.5 percent from -0.9 percent. (Table 1a)

Among the provinces and HUCs in Central Luzon, the provinces of Aurora and Pampanga and the cities of Angeles and Olongapo recorded increases in inflation rate in June 2024.

On the other hand, the following provinces posted a decrease in their inflation rate:
•    Nueva Ecija, 5.9 percent from 6.4 percent;
•    Bulacan, 4.8 percent from 5.4 percent;
•    Tarlac, 4.0 percent from 4.4 percent;
•    Bataan, 2.8 percent from 3.3 percent; and
•    Zambales, 2.4 percent from 2.9 percent. (Figure 3)

Despite the decrease in the province’s inflation, Nueva Ecija remained to have the highest inflation rate at 5.9 percent in June 2024. Meanwhile, Aurora recorded the lowest at 2.0 percent.

ARLENE M. DIVINO
Regional Director 
PSA RSSO 03