The inflation rate in Pampanga went up to 5.1 percent

The inflation rate in Pampanga increased to 5.1 percent in July 2024, up from 4.9 percent in June 2024. July's inflation rate was 0.6 percentage points lower than the 5.7 percent recorded in July 2023 (Figure 1).
 

The uptrend of July 2024 inflation in Pampanga was mainly brought about by the higher  weighted rate in the index of Food and Non-Alcoholic Beverages, which recorded a higher inflation rate of 5.1 percent from 4.7 percent in June 2024. Housing, Water, Electricity, Gas and other Fuels was the second top contributor with an inflation rate of -0.6 percent from -1.4 percent in June 2024. The third contributor in the uptrend of the July 2024 inflation was the index of Personal Care, and Miscellaneous Goods and Services, which recorded 4.6 percent inflation from 4.2 percent in June 2024.

In addition, higher inflation rates were observed in the following indices:
•    Transport at 6.8 percent inflation from 6.6 percent inflation in June 2024;
•    Clothing and Footwear at 3.8 percent inflation from 3.3 percent;
•    Furnishings, Household Equipment and Routine Household Maintenance at 4.0 percent inflation from 3.5 percent; and
•    Recreation, Sport and Culture at 3.6 percent inflation from 3.2 percent.

Meanwhile, lower inflation rates were observed on the following indices:
•    Restaurants and Accommodation Services at 14.9 percent inflation from 15.0 percent inflation in June 2024;
•    Health at 7.2 percent inflation from 7.4 percent;
•    Alcoholic Beverages and Tobacco at 5.3 percent inflation from 5.9 percent; and
•    Education Services at 3.6 percent inflation from 4.8 percent.

Lastly, the following indices retained their corresponding previous month’s annual increments: 
•    Information and Communication at 0.2 percent; and
•    Financial Services at 0.0 percent; (Table 1)

Monthly Inflation Rate in Pampanga from January 2021 to July 2024

Since January 2021, the months of November 2022, January 2023 and March 2023 were the months with the highest recorded inflation of Pampanga at 10.2 percent. On the other hand, the month of January 2024 was the month with the lowest recorded inflation rate of Pampanga at 2.1 percent since January 2021. (Table 2)

Consumer Price Index

The Consumer Price Index (CPI) of all items in Pampanga as of July 2024 was posted at 132.90 percent. This means that one needs 132.90 pesos to same set of goods and services that were worth 100.00 pesos in 2018. July 2024 CPI was higher 6.5 pesos than the posted at 126.4 in July 2023. (Table 3).
 

Purchasing Power of Peso

Purchasing Power of Peso (PPP) in Pampanga is 0.75 in July 2024. July 2024 PPP was lower by 0.04 than the 0.79 in July 2023. PPP implies that 1.00 peso in 2018 (based year) is now worth 75 centavos in July 2024. (Figure 2)

MARIA VIRGINIA R. OLVEÑA
Chief Statistical Specialist 
PSA Pampanga