Overall Inflation

Bataan’s overall inflation accelerated to 3.3 percent in May 2024. In April 2024, inflation rate was recorded at 3.2 percent and in May 2023, inflation rate was at 6.5 percent. (Table 1 and Figure 1)

Main Drivers to the Uptrend Trend of the Overall Inflation

The upward trend in the overall inflation in May 2024 was primarily brought about by the higher year-on-year growth in the index of Housing, water, electricity, gas and other fuels at -3.8 percent in April 2024, from -7.0 percent last April 2024.

On the contrary, the index of the following commodity groups exhibited a lower annual increment in March 2024 compared last February 2024:

• Food and non-alcoholic beverages, 7.4 percent form 8.8 percent;
• Alcoholic beverages and tobacco, -0.3 percent from 0.4 percent;
• Clothing and footwear, 2.8 percent from 3.3 percent; and
• Furnishings, household equipment, and routine household maintenance, 7.6 percent from 7.8 percent;
• Health, 3.4 percent from 4.4 percent;
• Transport, 1.2 percent from 1.4 percent; and
• Personal care and miscellaneous goods and services, 5.7 percent from 6.3 percent.

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

• Information on communication, 1.8 percent;
• Recreation, sport, and culture, 5.4 percent;
• Education services, 4.1 percent;
• Restaurants and accommodation services, 4.7 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 a lower index point of 132.7 in May 2024 compared to 133.4 index points of 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 May 2024 compared to April 2024. (Table 2 and Figure 2)

Food Inflation

Food inflation at Bataan decelerated to 7.8 percent in May 2024 compared to the previous month. In May 2023, food inflation was lower at 7.4 percent. (Table 2)

Main Drivers to the Downtrend Trend of the Food Inflation

The downward trend in the overall food inflation in May 2024 was primarily brought about by slower year-on-year increase in Vegetables, tubers, plantains, cooking bananas, and pulses at -3.0 percent, from 8.0 percent in April 2024. Fish and other seafood also contributed to the downward trend with a slower inflation rate of 2.9 percent, from 5.9 percent in April 2024.

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

• Fruits and nuts, 9.4 percent from 15.0 percent;
• Ready-made food and other food products n.e.c., 3.5 percent form 4.3 percent; and
• Sugar, confectionery, and desserts, -0.5 percent from 0.1 percent.

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

• Cereals and cereal products, 19.7 percent from 19.3 percent;
• Meat and other parts of slaughtered land animals, 7.6 percent from 6.3 percent; and
• Milk, other dairy products and eggs, 2.6 percent from 1.7 percent;

Meanwhile, Oils and fats retained its respective index of 1.7 as last month’s index. (Table 3)

Regional and National Level

The annual inflation rate in Central Luzon decreased to 4.5 percent in May 2024 compared to April 2024. The national level, increased to 3.9 percent in May 2024 from 3.8 in April 2024. (Figure 3)

FRANCISCO P. CORPUZ
Chief Statistical Specialist