Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index 
             Philippine Statistics Authority
 

A.    Caraga

1.    Overall Inflation

The inflation rate for the bottom 30% income households in the region slowed further to 1.3 percent in December 2024, down from 1.7 percent in November 2024. This decline contributed to an average regional inflation rate of 3.6 percent for this income group for the year 2024. In comparison, the inflation rate for December 2023 was significantly higher at 5.3 percent. (Refer to Figure 1, Tables A and B)

The primary driver of the downward trend in overall inflation for this income group in December 2024 was the slower year-on-year growth rate in the heavily weighted food and non-alcoholic beverages category, which declined to 1.0 percent from 1.9 percent in the previous month. This was followed by a decrease in inflation for restaurants and accommodation services, which dropped to 1.0 percent from 1.6 percent in November. Additionally, the clothing and footwear and health commodity groups recorded lower inflation rates, at 1.6 percent and 1.0 percent, respectively, compared to their previous month's rates of 1.7 percent and 1.2 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, 5.5 percent from 5.0 percent;
b.    Housing, water, electricity, gas and other fuels, 1.4 percent from 0.5 percent;
c.     Furnishings, household equipment and routine household maintenance, 1.8        percent from 1.7 percent;
d.    Transport, 0.5 percent from -1.9 percent; and
e.    Recreation, sport and culture, 5.9 percent from 5.5 percent;

Meanwhile, the following commodity groups retained there respective previous month’s inflation rates in December 2024:

a.    Information and communication, 1.4 percent;
b.    Education services, 0.2 percent; 
c.    Financial services, -0.4 percent; and
d.    Personal care, and miscellaneous goods and services, 2.9 percent.

2.    Food Inflation    

Overall food inflation for the bottom 30% income households at the regional level dropped significantly to 0.8 percent in December 2024 from 1.9 percent in the previous month. This marks a notable decline compared to December 2023, when food inflation was recorded at a much higher 8.6 percent. (Table D)

The downward trend in December 2024 was largely driven by the slower year-on-year growth rate of cereals and cereal products, which fell to 1.1 percent from 2.2 percent in November 2024. Within this category, the most significant factor was the sharp decrease in the rice index, which dropped to 0.9 percent from 2.5 percent.  Similarly, fish and other seafood showed a notable deceleration, with the growth rate failing to -1.8 percent from 0.4 percent in the previous month.

In addition to those trends, lower growth rates were also observed in the following food groups:

a.    Milk, other dairy products and eggs: Declined to 4.3 percent from 6.5 percent.
b.    Vegetables, tubers, plantains, cooking bananas and pulses: Dropped to -2.2 percent from -0.5 percent.
c.    Ready-made food and other food products: Decreased to 5.1 percent from 6.2 percent.

However, higher inflation rates were noted in several food groups during the same period:

a.    Corn: Increased to 0.0 percent from -0.8 percent.
b.    Meat and other parts of slaughtered land animals: Rose slightly to 2.5 percent from 2.4 percent.
c.    Oils and fats: Improved -0.4 percent from -2.0 percent.
d.    Fruits and nuts; Climbed to 6.2 percent from 5.6 percent.
e.    Sugar, confectionery and desserts; Moderated to -6.8 percent from -8.8 percent.

Table D. Year-on-Year Inflation Rates for the Bottom 30% Income Households, Food Commodity Group, Caraga: December 2023, November 2024, and December 2024 In Percent (2018=100)

B.    Provinces and Highly Urbanized City (HUC)

In December 2024, three provinces and one highly urbanized city (HUC) in the region recorded a decline in overall inflation. Among the three provinces,  Agusan del Sur registered the lowest overall inflation at 0.9 percent, down from 1.1 percent in the previous month. Meanwhile, Butuan City, the regions’ only HUC experienced a notable drop in its of inflation rate, reaching 0.0 percent from 0.8 percent.

Lower inflation rates were also observed in the following provinces:

a.    Agusan del Norte: Declined to 1.5 percent from 2.5 percent.
b.    Surigao del Sur: Dropped to 2.2 percent 3.7 percent.

On the other hand, notable increases in the overall inflation were recorded in:

a. Surigao del Norte: Rose to 1.8 percent from 0.7 percent.
b. Province of Dinagat Islands: Increased to 0.7 percent from -0.1 percent.

Among the five provinces and one HUC, Surigao del Sur posted the highest inflation rate at 2.2 percent, while Butuan City registered the lowest at 0.0 percent in December 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