The inflation rate of Bulacan ascends to 1.7 percent in November 2024

The headline inflation rate, or the year-on-year change in the prices of goods and services commonly purchased by people in the Province of Bulacan, increased to 1.7 percent in November 2024 from 1.2 percent in October 2024. It was lower by 8.2 percentage points compared to the same month of the previous year. The provincial average inflation from January to November 2024 was 4.6 percent.

Among the 13 commodity groups, the major contributor to the year-on-year inflation upward movement was the Food and Non-Alcoholic Beverages commodity group which recorded 2.7 percent from 2.0 percent in October. This was followed by Restaurants and Accommodation Services with 4.8 percent from 4.1 percent. Succeeded were Alcoholic Beverages and Tobacco commodity groups with 3.5 percent from 1.1 percent and Personal Care, and Miscellaneous Goods and Services with 2.7 percent from 2.4 percent. Finally, the Transport commodity group also improved from -2.3 percent to -1.7 percent.

Alternatively, the commodity groups that showed a downward trend were Clothing and Footwear with 1.8 percent from 2.2 percent. Followed by Furnishings, Household Equipment and Routine Household Maintenance with 0.5 percent from 0.6 percent. Similarly, other commodity groups that decelerated were Information and Communication with 0.0 percent from 0.1 percent and Recreation, Sport and Culture with 3.2 percent from 3.4 percent.

However, Housing, Water, Electricity, Gas and Other Fuels, Health, Education Services and Financial Services were the commodity groups which remained at the same level of inflation rate as the previous month with 0.5 percent, 1.0 percent, 1.9 percent and -1.0 percent, respectively.

Food Inflation inches up to 2.9 percent

During the month, Food inflation in the province inched up to 2.9 percent compared to 2.3 percent from the previous month. The following food groups exhibited an increase during the month:

1. Vegetables, Tubers, Plantains, Cooking Bananas and Pulses with 19.6 percent from -7.1 percent;
2. Fish and Other Seafood with 2.9 percent from 0.2 percent;
3. Meat and other parts of slaughtered land animals with 3.2 percent from 2.6 percent; and
4. Oils and fats (ND), -0.2 percent from -0.5 percent.

Meanwhile, the commodity groups that showed a downward trend were the following:

1. Cereals and Cereal Products with -0.6 percent from 4.6 percent;
2. Milk, Other Dairy Products, and Eggs with -0.4 percent from 1.4 percent;
3. Fruits and Nuts with 6.4 percent from 15.0 percent;
4. Sugar, Confectionery and Desserts with -3.3 percent from -2.3 percent; and
5. Ready-Made Food and Other Food Products N.E.C. with 3.9 percent from 4.7 percent

Consumer Price Index (CPI) increase to 128.8

The CPI of the Province of Bulacan increased to 128.8 in November 2024 from 128.1 in October 2024. The CPI value of 128.8 implies that an average typical Filipino household in the province of Bulacan needs an average of Php128.80 to buy and avail the same amount of commonly purchased basket of goods and services worth Php100.00 from the year 2018. This was an increase of Php 28.80 equivalent to a 28.8 percent increase within six years.

The Purchasing Power of Peso (PPP) static at 0.78

The PPP stayed at 0.78 during the month. This means that a peso in 2018 was only worth 78 centavos during the month. It was observed that from the month of July until November 2024 the PPP remained at 0.78.

ELMOR G. BARROQUILLO
Chief Statistical Specialist
 

Date: 05 December 2024