Inflation rate of Bulacan descends to 0.9 percent in September 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 decreased to 0.9 percent in September 2024 from 3.5 percent in August 2024. It was lower by 12.1 percentage points compared to same month of the previous year. This was the lowest inflation since September 2019. The provincial average inflation from January to September 2024 was 5.3 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 2.5 percent from 7.4 percent in August. This was followed by the contraction of Food and Non-Alcoholic Beverages and Transport Commodity groups to -0.2 and -2.0 from 2.7 and 0.4 respectively. These commodity groups contributed to the province's downward trend in inflation rate.

Along with this, other commodity groups that contributed to the deceleration were the following:

1. Education Services with 1.9 percent from 9.3 percent;
2. Restaurant and Accommodation Services with 3.8 percent from 4.7 percent<
3. Personal Care, and Miscellaneous Goods and Services with 3.0 percent from 4.0 percent
4. Clothing and Footwear with 2.9 from 4.0 percent;
5. Alcoholic Beverages and Tobacco with 1.0 percent from 1.8 percent
6. Health with 0.4 percent from 0.7 percent
7. Furnishing, Household Equipment and Routine Household Maintenance with 0.7 percent from 1.1 percent
8. Recreation, Sport and Culture with 3.1 percent from 3.8 percent;

Meanwhile, no commodity group showed upward trend this month. However, Information and Communication and Financial Services were the commodity groups remained at the same level of inflation rate as the previous month.

Food Inflation contracts to -0.2 percent

During the month, Food inflation in the province contracted to -0.2 percent from 3.0 percent from the previous month. The following food groups exhibited a decrease during the month:

1. Cereals and cereal products (ND) with -0.5 percent from 12.9 percent;
2. Fruits and nuts (ND) with 11.6 from 11.9
3. Vegetables, Tubers, Plantains, Cooking Bananas, and Pulses with -22.3 percent from 2.9 percent; and
4. Sugar, confectionery and desserts (ND) with -2.2 percent from 0.2 percent.

Meanwhile, the commodity groups that showed an upward trend were the following:

1. Meat and other parts of slaughtered land animals with 4.2 percent from 1.0 percent;
2. Fish and other seafood (ND) with -0.4 percent from -4.6 percent;
3. Milk, Other Dairy Products, and Eggs, 2.1 percent from -0.8 percent;
4. Oils and fats (ND), -3.9 percent from -6.1 percent; and
5. Ready-Made Food and Other Food Products N.E.C., 5.0 percent from 4.8 percent.

Consumer Price Index (CPI) decrease to 127.9

The CPI of the Province of Bulacan decreased to 127.9 in September 2024 from 128.4 in August 2024. The CPI value of 127.9 implies that an average typical Filipino household in the province of Bulacan needs an average of Php127.9 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 27.90 equivalent to a 27.90 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 September 2024 the PPP remained at 0.78.

ELMOR G. BARROQUILLO
Chief Statistical Specialist 


Date: 07 October 2024