PRESS RELEASE

Oriental Mindoro’s Headline Inflation increases to 3.3% in June 2024

Table 1. Year-on-Year Headline Inflation Rates (%) in the Philippines, MIMAROPA Region, and Oriental Mindoro Province, All Items (2018=100)

Oriental Mindoro’s headline inflation or the overall inflation increased to 3.3 percent in June 2024 from 3.1 percent in May 2024. This brings the provincial average inflation from January to June 2024 at 2.9 percent. In June 2023, the inflation rate in the province was higher at 8.4 percent. (Table 1)

The uptrend in the overall inflation in June 2024 was primarily influenced by the higher year-on-year increase in the housing, water, electricity, gas and other fuels index at 4.6 percent during the month from 3.5 percent in May 2024. This was followed by the food and non-alcoholic beverages at 1.8 percent in June 2024 from 1.7 percent in May 2024. The index of information and communication also contributed to the uptrend with an inflation rate of 2.3 percent during the month from 0.9 percent in May 2024. (Table 2)

The top five (5) main contributors to the uptrend overall inflation of the province in June 2024 are the following: 

1. Rice, 9.2 percent from 6.2 percent; 

2. Restaurants, café and the like, which retained its previous month’s rate at 12.4 percent; 

3. Meat of pigs, 11.0 percent from 10.6 percent; 

4. Electricity, 6.0 percent from 1.5 percent; and 

5. LPG, at 17.6 percent from 9.6 percent 

Food inflation in Oriental Mindoro remained at 1.9 percent in June 2024. In June 2023, food inflation was recorded at 10.0 percent.

Table 2. Year-on-Year Inflation Rates (%) by Commodity Group in Oriental Mindoro: June 2023, May 2024, and June 2024 (2018=100)

The overall inflation for the Bottom 30% Income Households in June 2024 was registered at 4.2 percent from 4.0 percent in May 2024. 

The main sources of acceleration of the June 2024 inflation of Oriental Mindoro for the Bottom 30% Income Households are the housing, water, electricity, gas and other fuels index at 10.0 percent during this month from 8.3 percent in May 2024, and the Food and Non-Alcoholic Beverages at 1.8 percent from 1.6 percent in May 2024. 

The top five (5) main contributors to the uptrend of the June Inflation of the province for the Bottom 30% Income Households are the following: 

1. Rice, at 8.2 percent from 5.7 percent; 

2. Restaurants, café and the like, which retained its previous month’s rate at 12.4 percent; 

3. Electricity, at 6.0 percent from 1.5 percent; 

4. Shell or Nut Charcoal, at 25.1 percent from 30.2 percent; and 

5. LPG, at 17.6 percent from 9.6 percent.

(SGD) DONNA MARIE D. MOBE
(Supervising Statistical Specialist)
Officer-in-Charge
Oriental Mindoro Provincial Statistical Office