07 February 2024 – Food inflation in Guimaras started at a sluggish price with 6.3 percent in December 2023 from 7.3 in the previous month, and slower against 9.2 percent in January 2023, based on the latest price statistics released by the Philippine Statistics Authority (PSA).

Figure 1. Headline Inflation Rates in Guimaras, Food Items: January (2023-2024) (2018=100)

“The deceleration of food inflation in January 2024 was primarily influenced by the decrease indices in Vegetables, tubers, plantains, cooking bananas, and pulses at -10.9 percent during the month, from the -5.1 percent in December 2023, giving a 45.0 percent share to food inflation,” Provincial Statistics Officer Nelida B. Losare said.

Table 1. Top 3 Major Sources and Contributors to Guimaras Food Inflation Rate in January 2024

Losare also highlighted that other items which significantly contributed to the downtrend of food inflation were Meat and other parts of slaughtered land animals at 9.8 percent in January 2024 from 12.5 percent in the previous month with 38.2 percent share to this month’s food inflation rate, and Fish and other seafood at 3.6 percent from 3.9 percent in December 2023 with 7.2 percent share.

Table 2. Headline Inflation Rates in Guimaras, Food Item Commodity Groups, January 2023 & December 2023 – January 2024 (2018=100)

“Milk, other dairy products, and eggs, 6.5 percent, from 7.0 percent; Ready-made food and other food products n.e.c at 11.2 percent from 11.8 percent; Oils and fats, 1.3 percent from 3.0 percent; and Fruits and nuts, 2.3 percent from 2.6 percent, also showed slower inflation rates during the month,” Losare said.

Meanwhile, data also revealed that a faster price increase from December 2023 to January 2024 was recorded in Cereals and cereal products (14.6% to 15.1%) and Sugar, confectionery, and desserts (-5.7% to -1.4%).

“Food groups with the highest contribution to the food inflation in January 2024 were Cereals and cereal products, with 71.9 percent contribution or 4.53 percentage points; Meat and other parts of slaughtered land animals, with 16.0 percent contribution or 1.01 percentage points; and Fish and other seafood, with 10.0 percent contribution translating to 0.63 percentage points,” Losare said.