A.    Caraga

1.    Overall Inflation

The region’s inflation rate for the bottom 30% income household decelerated to 1.7 percent in November 2024 from 2.2 percent in October 2024. This brings the regional average inflation for this income group from January to November 2024 to 3.8 percent. In November 2023, the inflation rate was posted higher at 5.6 percent. (Figure 1, Table A and B)

The main driver of the downward trend of the overall inflation for this income group in November 2024 was the lower year-on-year growth rate of the heavily weighted food and non-alcoholic beverages at 1.9 percent during the month from 3.1 percent in the previous month. This was followed by housing, water, electricity, gas and other fuels at 0.5 percent from 1.2 percent in the previous month. Moreover, lower annual increments were recorded in the indices of restaurant and accommodation services at 1.6 percent from 1.8 percent in October 2024.

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

a.    Clothing and footwear, 1.7 percent from 2.0 percent; and 
b.    Health, 1.2 percent from 1.4 percent.

On the contrary, higher annual growth rates were observed in the indices of the following commodity groups during the month:

a.    Alcoholic beverages and tobacco, 5.0 percent from 3.5 percent;
b.    Furnishings, household equipment and routine household maintenance, 1.7 percent from 1.4 percent;
c.    Transport, -1.9 percent from -3.4 percent;
d.    Information and communication, 1.4 percent from 1.3 percent;
e.    Recreation, sport and culture, 5.5 percent from 5.2 percent; and
f.    Personal care, and miscellaneous goods and services, 2.9 percent from 2.7 percent.
Meanwhile, commodity groups that maintained steady rates were noted in the indices:

a.    Education services, 0.2 percent; and
b.    Financial services, -0.4 percent.

2.    Food Inflation    

Overall food inflation for the bottom 30% income households at the regional level decreased to 1.9 percent from 3.1 percent in the previous month’s rate. In November 2023, food inflation was observed at a higher rate of 9.3 percent. (Table D)

The downward trend in food inflation in November 2024 was mainly influenced by the lower year-on-year growth rate of cereals and cereal products at 2.2 percent during the month from 6.3 percent in October 2024. The main contributor to the downtrend of the cereals and cereal products food group was the rapid decrease of rice and corn index, at 2.5 percent and -0.8 percent from 7.4 percent and 2.9 percent, respectively. This was followed by milk, other dairy products and eggs posted at 6.5 percent from 7.8 percent in the previous month. In addition, the indices of the food groups of fruits and nuts also recorded a lower annual increment at 5.6 percent from 12.4 percent in October 2024.

On the contrary, higher inflation rates were recorded during the month in the indices of the following food groups:

a.    Meat and other parts of slaughtered land animals, 2.4 percent from 2.1 percent;
b.    Fish and other seafood, 0.4 percent from -2.9 percent;
c.    Oils and fats, -2.0 percent from -2.3 percent; 
d.    Vegetables, tubers, plantains, cooking bananas and pulses; -0.5 percent from              -2.8 percent;
e.    Sugar, confectionery and desserts, -8.8 percent from -11.2 percent; and 
f.    Ready-made food and other food products n.e.c., 6.2 percent from 5.4 percent.

Meanwhile, indices of the food groups of flour, bread and other bakery products, pasta products, and other cereals maintained steady rates at 3.1 percent.

B.    Provinces and Highly Urbanized City (HUC)

In November 2024, three provinces and one highly urbanized city (HUC) recorded a decrease in overall inflation. Agusan del Sur registered the lowest decrease of 1.1 percent from 2.2 percent in the previous month. This was followed by Butuan City’s inflation rate declined to 0.8 percent from 1.6 percent. Moreover, lower inflation rate was noted in Surigao del Norte and Dinagat Islands at 0.7 percent and -0.1 percent, from from 1.4 percent and 2.8 percent, respectively.

On the other hand, Agusan del Norte and Surigao del Sur recorded an increase in overall inflation, at 2.5 percent and 3.7 percent from the previous month’s 2.1 percent and 3.4 percent, respectively.

Among the five provinces and one HUC, Surigao del Sur posted the highest inflation rate at 3.7 percent, while Dinagat Islands registered the lowest rate at -0.1 percent in November 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