Summary Inflation Report Consumer Price Index for Bottom 30% Income Households (2018=100)

A.    Caraga

1.    Overall Inflation

The region’s inflation rate for the bottom 30% income household maintained its steady rate at 5.0 percent in June 2024. This brings the regional average inflation for this income group from January to June 2024 to 4.6 percent. In June 2023, the inflation rate was posted higher at 5.4 percent. (Figure 1, Table A, and B)

Among the 13 commodity groups, the same inflation rate as of the previous month’s rate was recorded in the indices of the following:

a.     Furnishings, household equipment, and routine household maintenance, 2.5 percent from;
b.     Transport, 1.1 percent;
c.     Education services, 2.2 percent; and
d.     Financial services, -0.4 percent.

Furthermore, the downtrend of inflation in June 2024 was mainly brought by the lower year-on-year growth rate in the food and non-alcoholic beverages index at 8.1 percent in June 2024 from 8.8 percent in the previous month. This was followed by personal care, and miscellaneous goods and services with an inflation rate of 3.6 percent from 3.7 percent in the previous month. Moreover, lower annual growth rates were recorded in the indices of restaurants and accommodation services at 1.8 percent from 2.5 percent in the previous month.

Also contributing to the downtrend in inflation during the period were observed in the following commodity groups during the month:

a.     Clothing and footwear, 2.4 percent from 2.8 percent; 
b.     Health, 2.2 percent from 2.3 percent;
c.     Information and communication, 1.5 percent from 1.6 percent; and
d.     Recreation, sport, and culture, 5.8 percent from 6.9 percent.

On the contrary, higher annual growth rates were noted in the indices of alcoholic beverages and tobacco at 3.5 percent from 3.2 percent and housing, water, electricity, gas, and other fuels at -2.6 percent from -5.3 percent in the previous month.

2.    Food Inflation

Overall food inflation for the bottom 30% income households at the regional level further slowed down to 8.5 percent from 9.2 percent in the previous month’s rate. In June 2023, food inflation was observed at a lower rate of 6.2 percent. (Table D)

The downward trend in food inflation in June 2024 was mainly influenced by the lower year-on-year growth rate in fish and other seafood at -4.8 percent during the month from -1.4 percent in May 2024. This was followed by fruits and nuts posted at 6.6 percent from 8.8 percent in the previous month. In addition, the indices of the food groups of vegetables, tubers, plantains, cooking bananas and pulses recorded a lower annual increment, at -2.2 percent from -1.4 percent in May 2024.

Also contributing to the downtrend in food inflation during the period were observed in the following food groups during the month:

a.     Milk, other dairy products and eggs, 4.1 percent from 4.3 percent; 
b.     Oils and fats, -2.1 percent from -0.9 percent; and
c.     Sugar, confectionery and desserts, -11.3 percent from -9.7 percent.

On the contrary, food groups recorded an upward trend inflation rate during the month in the indices of the following food groups:

a.     Cereals and cereal products, 23.1 percent from 22.9 percent;
b.     Cereals, 26.5 percent from 26.0 percent;
c.     Rice, 28.9 percent from 28.3 percent;
d.     Corn, 13.1 percent from 13.0 percent;
e.     Meat and other parts of slaughtered land animals, -0.4 percent from -0.8 percent; and
f.     Ready-made food and other food products, 11.0 percent from 9.7 percent.

B.    Provinces and Highly Urbanized City (HUC)

In June 2024, Agusan del Sur, Surigao del Sur, Dinagat Islands, and Butuan City (HUC) recorded a downtrend in the overall inflation for the bottom 30% income households. On the other hand, Agusan del Norte and Surigao del Norte posted an increased in the overall inflation.

Among the five provinces and one HUC, Surigao del Sur registered the highest inflation rate at 7.3 percent while Butuan City (HUC) registered the lowest inflation rate at 2.6 percent in June 2024. (Table A)

Note:
CPIs and inflation rates by province and selected city are posted on the PSA website (http://openstat.psa.gov.ph/).

(Sgd.)GUILLERMO M. LIPIO, JR.
(Chief Statistical Specialist)
Officer-In-Charge
PSA RSSO XIII