Table 1. Year-on-Year Inflation Rates: Philippines, MIMAROPA, and Romblon: All Items in Percent (2018=100)

Source: Philippine Statistics Authority, Retail Price Survey of Commodities

The headline inflation rate of Romblon slowed down to 0.9 percent in December  2024, compared to the 1.8 percent computed in the previous month. Compared to the previous year, the inflation rate is also lower than the registered 8.1 percent in December 2023.      
The inflation trend in December 2024 was primarily brought by the slowing down of the year-on-year growth rate in the indices of the following commodity groups:   
•    Food and Non-alcoholic Beverages, -0.1% (90.8% share to inflation trend)  
•    Alcoholic Beverages and Tobacco, 1.7% (1.0% share to inflation trend)  
•    Furnishing, Household Equipment, and Routine Maintenance of the House, -0.8% (1.7% share to inflation trend)  
•    Personal Care, and Miscellaneous Goods and Services, -0.2% (6.6% share to inflation trend)  
On the other hand, the following commodity groups showed acceleration of its year-on-year growth rate:  
•    Health, 1.8%   
•    Transportation, 0.9%  
•    Recreation, Sports and Culture, 2.1%  
Meanwhile, Clothing and Footwear (0.6%), Housing, Water, Electricity, Gas and Other Fuels (4.5%), Information and Communication (0.1%), Education Services (2.6%), Restaurant and Accommodation Services (4.0%), and Financial Services      (-11.1%) remained at their previous month’s rate.  
In the past 12 months, the highest inflation rate was observed in the month of March 2024 computed at 7.0 percent while the lowest was observed in December 2024 at 0.9 percent (Figure 1).

Figure 1. 1-Year Monthly Inflation Rate of Romblon: January – December 2024

Source: Philippine Statistics Authority, Retail Price Survey of Commodities

Table 2 shows that the month-on-month price index for all items in the province was computed at 0.0 percent (131.5 to 131.5). It also shows that Health was the only commodity group that registered the positive increment with reference to the price situation in the previous month, increased by 0.1 percent (126.4 to 126.5). On the other hand, commodity groups with decreased observed price situation includes Alcoholic Beverages and Tobacco with -0.3 percent (196.6 to 196.1), Food and Non-alcoholic Beverages with -0.1 percent (134.2 to 134.1), and Personal Care and Miscellaneous Goods and Services with -0.1 percent (122.5 to 122.4).

Meanwhile, there is no observed month-on-month changes in average prices of Clothing and Footwear (125.4), Housing, Water, Electricity, Gas and Other Fuels (118.0), Furnishing, Household Equipment and Routine Household Maintenance (136.7), Transportation (134.8), Information and Communication (108.0), Recreation, Sports and Culture (123.1), Education Services (104.8), Restaurant and Accommodation Services (151.0), and Financial Services (88.9).

The average monthly CPI for all income households in the province in December 2024 was recorded at 131.5, increased by 0.9 percent from the price level on the same month of the past year (130.3).

Table 2. Consumer Price Index by Commodity Group for All Income Households (2018=100)

Source: Philippine Statistics Authority, Retail Price Survey of Commodities

Meanwhile, Figure 2 shows the Consumer Price Indices of different commodity groups in December 2024. The commodity group of Alcoholic Beverages and Tobacco registered 196.1, the highest value of the CPI in the province during the period. It was followed by Restaurant and Accommodation Services (151.0) and Furnishing, Household Equipment, and Routine Maintenance of the House (136.7).

Source: Philippine Statistics Authority, Retail Price Survey of Commodities

Purchasing Power of Peso

CPI is further used in the computation of Purchasing Power of Peso (PPP). PPP measures the “true” value of money using a given base year.

In December 2024, the PPP was calculated to have a value of P0.76 on the average, which means that P1.00 in 2018 is only worth 76 centavos. Also, on the average, an individual needs P131.50, or P31.50 more, to buy the same basket of goods that was worth P100.00 in 2018.

(SGD) JOHNNY F. SOLIS  
Chief Statistical Specialist