Table A. Year-on-Year Inflation Rates, All Items, Nueva Ecija
In Percent 
(2018=100)

Nueva Ecija’s Headline Inflation Rate Expands to 7.0 Percent

Nueva Ecija’s annual inflation accelerated to 7.0 percent in April 2024, which was 0.6 percentage points higher than 6.4 percent in March 2024. This brings the average inflation on the prices of goods and services in the province from January to April 2024 to 6.1 percent. In April 2023, Nueva Ecija’s inflation rate was lower at 4.4 percent. (Table A and Figure 1)

Among the provinces in Central Luzon, Nueva Ecija posted the highest inflation rate in April 2024, and the Province of Aurora had the lowest inflation rate at 0.5 percent. On the other hand, Central Luzon’s annual inflation slowly increased to 4.9 percent in April 2024. (Table A and Figure 2)

Table B. Year-on-Year Inflation Rates by Commodity Group: 
Nueva Ecija (2018=100)
(In Percent)

Main Drivers to the Uptrend of the Headline Inflation

The increase in Nueva Ecija’s inflation in April 2024 was primarily brought about by the faster annual increment in the following commodity groups:

     a. Food and non-alcoholic beverages with an 11.0 percent increment from 10.4 percent in the previous month;
     b. Housing, water, electricity, gas, and other fuels, with 6.8 percent from 4.9 percent;
     c. clothing and footwear with 7.7 percent from 7.6 percent;
     d. Health with 6.4 percent from 6.0 percent; and
     e. Transport with 2.6 percent from 1.5 percent;

In contrast, slower year-on-year increases were recorded in the indices of recreation, sport, and culture, with 6.5 percent from 6.6 percent and personal care, and miscellaneous goods and services with 3.6 percent from 3.9 percent. Furthermore, the commodity group of alcoholic beverages and tobacco, information and communication, education services, and restaurants and accommodation services retained their previous annual inflation, while the financial services index remained at a zero percent annual rate in April 2024. (Table B)

Table C. Major Contributors to the Year-on-Year Inflation in Nueva Ecija: 
April 2024

Major Contributors to the Headline Inflation

Nueva Ecija’s inflation in April 2024 was primarily influenced by the following commodity group:

     a. Food and non-alcoholic beverages with 60.7 percent share or 4.25 percentage points;
     b. Housing, water, electricity, gas, and other fuels with a 19.5 percent share or 1.36 percentage points;
     c. Clothing and footwear with a 3.2 percent share or 0.23 percentage points;
     d. Health with a 3.1 percent share or 0.22 percentage points;
     e. Transport with 2.9 percent share or 0.21 percentage points; and
     f. Personal care, and miscellaneous goods and services with a 2.4 percent share or 0.17 percentage points.

Table D. Year-on-Year Changes in the Inflation Rates on
Food Commodity, Nueva Ecija
(2018=100)

Food Inflation Registered at 11.7 Percent in April 2024

Nueva Ecija's food inflation accelerated to 11.7 percent in April 2024 from 11.1 percent in March 2024. In April 2023, food inflation was lower at 4.3 percent.

Main Drivers to the Uptrend of Food Inflation

The upward trend of Nueva Ecija’s food inflation in April 2024 was primarily influenced by the faster annual growth on the index of vegetables, tubers, plantains, cooking bananas, and pulses, with a 29.0 percent inflation rate during the month from 13.0 percent in March 2024.

Higher annual growth rates were also recorded in the indices of the following food groups:

     a. Milk, other dairy products, and eggs at 4.0 percent from 2.3 percent;
     b. Ready-made food and other food products, n.e.c. at 5.5 percent from 4.4 percent; and
     c. Oils and fats at -2.5 percent from -2.7 percent.

In contrast, compared with their previous month’s inflation rates, slower increments in the growth rates were observed in the indices of the following food groups during the month:

     a. Meat and other parts of slaughtered land animals at 0.8 percent from 1.3 percent;
     b. Fish and other seafood at 3.6 percent from 7.3 percent;
     c. Fruits and nuts at 3.8 percent from 4.0 percent; and
     d. Sugar, confectionery, and desserts at -0.1 percent from 1.0 percent.

Cereals and cereal products, including rice, corn, flour, bread, other bakery products, pasta products, and other cereals, retained a 26.4 percent inflation rate for April 2024.

Table E. Major Contributors to the Year-on-Year Food Inflation in Nueva Ecija, April 2024

Major Contributors to the Food Inflation

Food inflation contributed 60.7 percent or 4.25 percentage points to the overall inflation of Nueva Ecija in April 2024. Food groups with the highest contribution to food inflation during the month were the following:

     a. Cereals and cereal products with 72.1 percent share or 8.43 percentage points;
     b. Vegetables, tubers, cooking bananas, and pulses with 17.8 percent share or 2.08 percentage points;
     c. Fish and other seafood with 3.6 percent share or 0.43 percentage points;
     d. Milk, other dairy products, and eggs with 2.4 percent share or 0.29 percentage points; and
     e. Ready-made food and other food products, n.e.c. with a 2.0 percent share or 0.24 percentage points.

Table F. Consumer Price Index, Inflation Rate Month-on-Month Percent Change, Purchasing Power of Peso in Nueva Ecija 
(2018=100)

Consumer Price Index Slightly Increases to 132.3 in April 2024

Following the uptrend, the Consumer Price Index (CPI) in April 2024 slightly increased to 132.3 compared to 132.0 in March 2024. This implies that the PhP 100.00 in 2018 was averaging at PhP 132.30 in April 2024 or the average retail prices of the basket of goods and services expanded by 32.3 percent. In April 2023, the CPI was lower, with an average of 123.7. (Table F)

Nueva Ecija’s Purchasing Power of Peso Remains at PhP 0.76

The Purchasing Power of Peso (PPP) in the province of Nueva Ecija remained PhP 0.76 in April 2024. Hence, with 2018 as the base year, the One peso in 2018 was valued at 76 centavos in April 2024. (Figure 3 and Table F)

Approved for release:

ELIZABETH M. RAYO
Chief Statistical Specialist
 

Technical Notes