Overall Inflation

Bataan’s overall inflation decelerated to 2.8 percent in June 2024. In May 2024, the inflation rate was recorded at 3.3 percent and in June 2024, the inflation rate was at 6.0 percent. (Table 1 and Figure 1)

Main Drivers to the Downward Trend of the Overall Inflation

The downward trend in the overall inflation in June 2023 was primarily brought about by the lower year-on-year growth in the index of Restaurants and accommodation services at 1.8 percent in June 2024, from 4.7 percent last May 2024. This was followed by Housing, water, electricity, gas, and other fuels at -4.6 percent in June 2024, from -3.8 percent last May 2024.

Lower annual increments were also noted in the indices of the following commodity groups during the month:

• Furnishings, household equipment, and routine household maintenance, 5.6 percent from 7.6 percent;

• Personal care and miscellaneous goods and services, 4.4 percent from 5.7 percent;

• Transport, 0.7 percent from 1.2 percent; and

• Health, 2.1 percent from 3.4 percent;

• Information and communication, 0.8 percent from 1.8 percent;

• Clothing and footwear, 1.8 percent from 2.8 percent; and

• Recreation, sport, and culture, 3.9 percent from 5.4 percent.

On the contrary, the index of the following commodity groups exhibited a higher annual increment in June 2024 compared last May 2024:

• Food and non-alcoholic beverages, 8.0 percent form 7.4 percent; and

• Alcoholic beverages and tobacco, 1.0percent from -0.3 percent.

Meanwhile, the following commodity groups retained its respective index as last month’s index:

• Education services, 4.1 percent; and

• Financial services, 0.0 percent.

Consumer Price Index and Purchasing Power of Peso

Comparing the monthly Consumer Price Index (CPI) for all income households, Bataan records an unchanged point of 132.7 in June 2024 compared to the previous month.

The price changes reflected in the CPI above caused the Purchasing Power of Peso (PPP) in Bataan to remain at 0.75 in June 2024 compared to May 2024. (Table 2 and Figure 2)

Food Inflation

Food inflation at Bataan accelerated to 8.5 percent in June 2024 compared to the previous month. In June 2023, food inflation was lower at 6.3 percent. (Table 2)

Main Drivers to the Upward Trend of the Food Inflation

The upward trend in the overall food inflation in June 2024 was primarily brought about by faster year-on-year increase in Vegetables, tubers, plantains, cooking bananas and pulses at 4.9 percent, from -3.0 percent in May 2024. Fish and other seafood also contributed to the downward trend with a faster inflation rate of 3.7 percent, from 2.9 percent in May 2024.

Higher annual increments were also noted in the indices of the following food items during the month:

• Meat and other parts of slaughtered land animals, 8.0 percent from 7.6 percent;

• Oils and fats, -7.5 percent form -7.7 percent; and

• Ready-made food and other food products n.e.c., 5.2 percent from 3.5 percent.

On the contrary, the index of the following food items exhibited a lower annual increment in June 2024, in comparison to May 2024:

• Cereals and cereal products, 19.3 percent from 19.7 percent;

• Fruits and nuts, 4.7 percent from 9.4 percent; and

• Sugar, confectionery and desserts, -0.6 percent from -0.5 percent

Meanwhile, Milk, other dairy products and eggs retained its respective index of 2.6 as last month’s index. (Table 3)

Regional and National Level

The annual inflation rate in Central Luzon remained at 4.5 percent in June 2024 compared to May 2024. The national level, decreased to 3.7 percent in June 2024 from 3.9 in May 2024. (Figure 3)

FRANCISCO P. CORPUZ

Chief Statistical Specialist