The headline inflation rate at the regional level slightly decelerated to 2.9 percent in December 2024, from the 3.0 percent in the previous month. In the same reference month of the previous year, the index posted at 4.4 percent. The main contributors to the downtrend of average inflation for all income households were food and non-alcoholic beverages (3.4 percent inflation), housing, water, electricity, gas and other fuels (2.9 percent inflation); and personal care, and miscellaneous goods and services (1.2 percent inflation).

INFLATION RATE BY COMMODITY GROUP
 

Likewise, the following commodity groups showed a slowdown in the average inflation for the month of December 2024:
• Clothing and Footwear (1.2% inflation)
• Furnishings, Household Equipment and Routine Household Maintenance (2.3% inflation)
• Information and Communication (0.9% inflation)

On the other hand, the following commodity groups exhibited a higher annual gain in the average inflation for the month of December 2024:

• Alcoholic Beverages and Tobacco (3.1% inflation),
• Recreation, Sport and Culture (4.0% inflation), and
• Restaurants and Accommodation Services (6.3% inflation).

Meanwhile, Health (2.2% inflation), Education Services (1.7% inflation), and Financial Services (-0.9% inflation) retained their previous month’s inflation rate.

INFLATION RATE BY FOOD GROUP

The region’s food index decelerated to 3.5 percent in December 2024, from 3.9 percent in the previous month. Additionally, the food inflation rate was lower by 0.7 percentage point, relative to November 2023. Meanwhile, the downtrend in the December 2024 food index was mainly attributed to rice (-0.5% inflation).

On the other hand, the annual indices of the following food items were higher compared to the annual figures from the previous month: corn (5.1% inflation); meat and others parts of slaughtered land animals (15.0% inflation); fruits and nuts (10.4% inflation); vegetables, tubers, plantains, cooking bananas and pulses (3.9% inflation); and ready-made food and other food products not elsewhere classified (3.5% inflation).

PURCHASING POWER OF PESO

The purchasing power of Peso (PPP) in the MIMAROPA Region retained at Php 0.75 in December 2024. The PPP registered at Php 0.77 in the same month of the previous year. As a result, the amount of goods that can be presently purchased by consumers was fewer compared to when the PPP was higher. 

(SGD) LENI R. RIOFLORIDO
Regional Director

MLLM / OHG / APAR / CBDT