A.    Caraga

1.    Headline Inflation

The headline inflation for all income households in Caraga decelerated to 1.0 percent in September 2024, from 2.3 percent in August 2024. This brings the regional average inflation from January to September 2024 to 2.8 percent. In September 2023, the inflation rate was higher at 5.1 percent. (Table A and B and Figure 1)

Among the 13 commodity groups, the downtrend of the overall inflation in September 2024 was mainly brought about by the heavily weighted food and non-alcoholic beverages at 2.2 percent from 5.1 percent in the previous month. This was followed by transport with -4.3 percent from -2.4 percent. Moreover, lower annual growth rates were reported in the indices of education services at 1.9 percent from 3.3 percent in August 2024.

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

a.    Furnishings, household equipment, and routine household maintenance, 1.4 percent from 1.7 percent;
b.    Health, 1.5 percent from 1.7 percent;
c.    Information and communication, 1.6 percent from 1.9 percent
d.    Recreation, sport, and culture, 3.5 percent from 4.3 percent;
e.    Restaurants and accommodation services, 1.2 percent from 1.4 percent; and
f.    Personal care, and miscellaneous goods and services, 3.2 from 3.4 percent.

On the other hand, higher annual growth rates were observed in the indices of alcoholic beverages and tobacco and housing, water, electricity, gas, and other fuels at 3.4 percent and -0.1 percent from 3.1 percent and -2.5 percent in August 2024, respectively.

Meanwhile, commodity groups that maintained steady rates were observed in the indices of clothing and footwear and financial services at 2.0 percent and -0.3 percent, respectively.

2.    Food Inflation

Food inflation for all income households at the regional level slowed down to 2.2 percent in September 2024, from 5.3 percent in August 2024. In September 2023, food inflation was observed at a higher rate of 9.0 percent.

The downward trend in inflation for food in September 2024 was mainly influenced by the lower year-on-year growth rate on cereals and cereal products with 4.2 percent from                15.2 percent in the previous month. The main contributor to the downtrend of the cereals and cereal products food group was the slow growth of rice index, at 4.1 percent from 18.4 percent. This was followed by vegetables, tubers, plantains, cooking bananas, and pulses at -6.9 percent from -1.3 percent in the previous month. In addition, the indices of the ready-made food and other food products n.e.c were recorded at 4.3 percent from 4.8 percent in August 2024.

Other food groups that contributed to the downward trend in September 2024 inflation were as follows:

a.    Corn, 8.0 percent from 14.3 percent;
b.    Meat and other parts of slaughtered land animals, 1.4 percent from 1.5 percent;

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

a.    Flour, bread, and other bakery products, pasta products, and other cereals, 3.0 percent from 2.7 percent
b.    Fish and other seafood, -0.7 percent from -3.3 percent;
c.    Milk, other dairy products, and eggs, 8.2 percent from 4.9 percent; 
d.    Oil and fats, -1.4 percent from -1.5 percent;
e.    Fruits and nuts, 14.7 percent from 7.7 percent; and
f.    Sugar, confectionery, and desserts, -10.1 percent from -10.3 percent.

B.    Provinces and Highly Urbanized City (HUC)

In September 2024, all the provinces in the region posted a decrease in the overall inflation while Butuan City recorded an increase of -0.2 percent from -0.3 in the previous month.

Among the five provinces and one HUC, Dinagat Islands registered the highest inflation rate at 2.3 percent while Butuan City registered the lowest inflation rate at -0.2 percent in September 2024. (Table A)
 

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

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