The inflation rate of Bulacan ascends to 1.2 percent in October 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 1.2 percent in October 2024 from 0.9 percent in October 2024. It was lower by 10.5 percentage points compared to the same month of the previous year. The provincial average inflation from January to October 2024 was 4.9 percent.

Among the 13 commodity groups, the major contributor to the year-on-year inflation downward movement was the Housing, Water, Electricity, Gas and Other Fuels commodity group which recorded 0.5 percent from 2.5 percent in September. This was followed by Clothing and Footwear posted 2.2 percent from 2.9 percent, next was Personal Care, and Miscellaneous Goods and Services with 2.4 percent from 3.0 percent. Succeeded was Transport Commodity groups with -2.3 percent from -2.0 percent and finally, Furnishing, Household Equipment and Routine Household Maintenance with 0.6 percent from 0.7 percent.

Alternatively, commodity groups that showed upward trend was Food and Non-Alcoholic Beverages with 2.0 percent from -0.2 percent, Subsequently Health with 1.0 percent from 0.4 percent. Similarly, other commodity groups contributed to the acceleration were the Recreation, Sport and Culture with 3.4 percent from 3.1 percent and the Restaurant and Accommodation Services with 4.1 percent from 3.8 percent both contributed same percentage increased and to conclude, Alcoholic Beverages and Tobacco with 1.1 percent from 1.0 percent

However, Information and Communication and Financial Services, Education Services and Financial Services were the commodity groups remained at the same level of inflation rate as the previous month.

Food Inflation stepped up to 2.0 percent

During the month, Food inflation in the province stepped up to 2.0 percent from -0.2 percent from the previous month. The following food groups exhibited an increase during the month:

1. Vegetables, Tubers, Plantains, Cooking Bananas and Pulses with -7.1 percent from -22.3 percent;
2. Cereals and cereal product 0.5 percent from 4.6 percent
3. Oils and fats (ND), -3.9 percent from -0.5percent
4. Fruits and Nuts with 15.0 percent from 11.6 percent; and
5. Fish and Other Seafood with -2.2 percent from 0.2 percent.

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

1. Meat and other parts of slaughtered land animals with 4.2 percent from 1.0 percent;
2. Milk, Other Dairy Products, and Eggs, 2.1 percent from -0.8 percent;
3. Ready-Made Food and Other Food Products N.E.C., 5.0 percent from 4.8 percent
4. Sugar, Confectionery and Desserts

Consumer Price Index (CPI) increase to 128.1

The CPI of the Province of Bulacan decreased to 128.1in October 2024 from 127.9 in September 2024. The CPI value of 128.1 implies that an average typical Filipino household in the province of Bulacan needs an average of Php128.1 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 28.1 equivalent to a 28.1 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 October 2024 the PPP remained at 0.78.

ELMOR G. BARROQUILLO
Chief Statistical Specialist