Headline Inflation

The headline inflation for all income households in the province of Agusan del Sur accelerated to 1.9 percent in November 2024 from 1.0 in October 2024. This is 0.9 % higher as compared to preceding month of this year. Inflation in October 2023 was higher at 4.9 percent. The average inflation from January 2024 to October 2024 stood at 2.9 percent. (Table A and Figure 1)

For comparison, the provincial headline inflation for all income households in October 2024 is slower than the regional and national inflation at 2.0 percent and 2.3 percent, respectively.

Among the 13 commodity groups, the uptrend in the overall inflation in October 2024 of the province was brought about by housing, water, electricity, gas and other fuels at 2.9 percent from -2.0 percent in the previous month. This was followed by the heavily weighted food and non-alcoholic beverages at 3.3 percent from 3.1 percent in September 2024.

In addition, higher annual increments which contributed to the uptrend in the inflation rate during the month were also observed in the indices of the commodity groups of the following:

a)    Transport, (-4.1) percent from (-4.4) percent;
b)    Personal care and miscellaneous goods and services, (2.5) percent from (2.4) percent;
c)    Alcoholic beverages and tobacco, (0.8) percent from (0.6 percent);
d)    Health, (1.9) percent from (1.8) percent;

On the other hand, lower annual growth rate was observed in the index of recreation, sport and culture, (2.6) percent from (2.7) percent.

The rest of the commodity groups that maintained steady rates were reported in the indices of Clothing and footwear, (0.2) percent; Furnishings, household equipment and routine maintenance, (0.6) percent; Information and communication, (2.5) percent; Education Services, (0.3) percent; Restaurants and Accommodation services, (0.0) percent and Financial Services, (1.4) percent.

Food Inflation

Food inflation for all income households at the provincial level escalated to 3.5 percent in October 2024 from 3.3 percent in September 2024. In October 2023, food inflation was higher at 8.5 percent. 
The uptrend on inflation for food in October 2024 was mainly influenced by the higher year-on-year growth rate on fish and other seafoods at 4.4 percent from 1.3 percent. This was followed by meat and other parts of slaughtered land animals at 1.0 percent from -4.0 percent. Moreover, the indices of vegetables, tubers, plantains, cooking bananas and pulses, (-6.3) percent from (-7.3) percent; ready-made food and other food products n.e.c. (4.8) percent from (3.5) percent; fruits and nuts at 9.1 percent from 8.4 percent; sugar, confectionery and desserts at -12.9 percent from -14.2 percent and oils and fats (4.8) percent from (2.7) percent went up in October 2024 as compared with the previous month.

On the contrary, the following food groups recorded a downtrend inflation rate during the month:

a)    Rice, (8.1) percent from (8.8) percent;
b)    Corn, (2.5) percent from (11.1) percent;
c)    Milk, other dairy products and eggs, (3.4) percent from (6.3) percent.

(Sgd.) DEMETRIO T. DEJOLDE JR.
Chief Statistical Specialist