INFLATION RATE BY COMMODITY GROUP

The following commodity groups also exhibited a lower annual gain in the average inflation for the month of September 2024:

•    Restaurants and Accommodation Services (5.8% inflation),
•    Recreation, Sport and Culture (3.2% inflation),
•    Health (2.8% inflation),
•    Alcoholic Beverages and Tobacco (2.4% inflation),
•    Personal Care, and Miscellaneous Goods and Services (2.0% inflation)
•    Education Services (1.7% inflation),
•    Furnishings, Household Equipment and Routine Household Maintenance (1.6% inflation), and
•    Clothing and Footwear (1.4% inflation).

Meanwhile, Information and Communication (0.8% inflation), and Financial Services (-0.9% inflation) retained its previous month’s inflation rate.
 

INFLATION RATE BY FOOD GROUP

The region’s food index decelerated to 3.0 percent in September 2024, from 5.0 percent in the previous month. Relative to September 2023, the food inflation rate was lower by 6.2 percentage points. Moreover, the downtrend in the September 2024 food index was mainly attributed to rice (11.0% inflation); vegetables, tubers, plantains, cooking bananas and pulses (-8.7% inflation); and meat and other parts of slaughtered land animals (4.2% inflation).

On the other hand, the annual indices of the following food items were lower compared to the annual figures from the previous month: oils and fats (-3.2% inflation); corn (-0.2% inflation); flour, bread and other bakery products, pasta products, and other cereals (1.8% inflation); ready-made food and other food products not elsewhere classified (3.8% inflation).

PURCHASING POWER OF PESO

The purchasing power of Peso (PPP) in the MIMAROPA Region retained at
Php 0.75 in Septmber 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 / RRL