PRESS RELEASE
Oriental Mindoro’s Headline Inflation slows down further to 1.4% in September 2024
Oriental Mindoro’s headline inflation or the overall inflation slowed down further to 1.4 percent in September 2024 from 3.4 percent in August 2024. This brings the provincial average inflation from January to September 2024 at 2.9 percent. In September 2023, the inflation rate in the province was higher at 7.5 percent. (Table 1)
The downtrend in the overall inflation in September 2024 was primarily influenced by the higher year-on-year slower increment in housing, water, electricity, gas and other fuels index at 1.6 percent during the month from 6.4 percent in the previous month. This was followed by food and non-alcoholic beverages with a slower inflation rate at 1.2 percent in September 2024 from 2.3 percent in August 2024. Also contributing to the downtrend was transport declined at 3.6 percent during the month from 0.7 percent in the previous month. (Table 2)
The top five (5) main contributors to the downtrend overall inflation of the province in September 2024 are the following:
- Meat of pigs, fresh, chilled or frozen, 15.6 percent from 17.0 percent;
- Restaurants, café and the like, 8.0 percent from 9.6 percent;
- Rice, 1.6 percent from 5.6 percent;
- Meat of poultry, fresh, chilled or frozen, 6.2 percent from 4.5 percent; and
- Mangoes, guavas and mangosteens, fresh, at 45.8 percent from 33.7 percent.
Food inflation in Oriental Mindoro eased to 1.1 percent in September 2024 from 2.3 percent in August 2024. In September 2023, food inflation was recorded at 8.6 percent.
The overall inflation for the Bottom 30% Income Households in September 2024 was registered at 2.0 percent from 4.9 percent in August 2024.
The main sources of deceleration of the September 2024 inflation of Oriental Mindoro for the Bottom 30% Income Households are the housing, water, electricity, gas and other fuels index at 5.1 percent during this month from 16.3 percent in August 2024. This was followed by the food and non-alcoholic beverages registered at 0.8 percent in September 2024 from 2.0 percent in August 2024.
The top five (5) main contributors to the downtrend of the September 2024 Inflation of the province for the Bottom 30% Income Households are the following:
Restaurants, café and the like, 8.0 percent from 9.6 percent;
Meat of pigs, fresh, chilled or frozen, 15.6 percent from 17.0 percent;
Electricity, 3.0 percent from 22.1 percent;
Rice, 1.6 percent from 5.4 percent; and
Shell or nut charcoal, retained its August 2024 annual rate of 12.2 percent.
(SGD) CHARLYN ROMERO-CANTOS, PhD
(Chief Administrative Officer)
Officer-in-Charge
Oriental Mindoro Provincial Statistical Office
