The headline inflation in the province of Capiz for the bottom 30% income households declined from 5.4 percent in July 2024 to 5.2 percent in August 2024. This brings the average inflation for this income group from January to August 2024 to 4.6 percent. In August 2023, the inflation rate was higher at 6.9 percent. (Table A and Figure 1)

The main driver of the downward trend of the overall inflation for this income group in August 2024 was the slower year-on-year growth of the following commodity groups:

a. Transport, from 0.6 to -1.5 percent
b. Recreation, Sport and Culture, from 4.1 to 3.0 percent;
c. Education Services, from 5.5 percent to 4.1 percent; and
d. Food and non-alcoholic beverages, from 8.3 to 7.1 percent

In contrast, higher annual increments were noted in the indices of the following commodity groups during the month:

a. Housing, Water, Electricity, Gas and Other Fuels, from 2.1 percent 3.2 percent;
b. Personal Care, and Miscellaneous Goods and services from 2.0 percent to 2.5 percent;
c. Furnishings, Household Equipment and Routine Household Maintenance, 1.9 percent from 1.4 percent;
d. Clothing and Footwear, 2.6 percent from 2.1 percent; and
e. Alcoholic Beverages and Tobacco, 2.6 percent from 2.5 percent 

The indices of the rest of the commodity groups retain their respective previous month’s annual rates. (Table B and Table C)

Food inflation for the bottom 30% income households at the provincial level declined further to 8.2 percent in August 2024 from 8.8 percent in the previous month. In August 2023 the inflation rate was higher at 9.8 percent. (Table B)

 The downtrend in the food inflation for the bottom 30% income households was mainly due to the slower annual growth rate of rice at 17.8 percent during the month from the 22.2 percent annual increase in July 2024. Also contributing to the downtrend is Corn index with a slower annual decrease of 3.0 percent from its 4.1 percent yearly decline in July 2024. Also contributing to the deceleration of food inflation for the bottom 30% income households is the Meat and Other Parts of Slaughtered Land Animals index, which was at 20.4 percent in August 2024 compared to 20.8 percent in July 2024.

On the contrary, the uptrend annual increases during the month were recorded in the Fish and Other Seafood indices at -1.1 percent in August 2024 from -1.8 percent in July 2024. Also, Vegetables, Tubers, Cooking Bananas and Pulses posted an annual increase of 5.4 percent in August 2024 from 3.3 percent in the previous month. (Table B)