09 Aug 2024 - GUIMARAS. July 2024 Inflation for the bottom 30% income Households (HHs) in Guimaras posted at 8.5 percent, moves quicker after posting a slower inflation rate the previous month (June 2024), as indicated in the latest price statistics from the Philippine Statistics Authority (PSA).

Inflation for the bottom 30% income HHs recorded a provincial average of 7.8 percent from January to July 2024,” Provincial Statistics Officer Nelida B. Losare said.

The uptrend inflation for the low-income HHs in July was influenced by the heavily weighted food and non-alcoholic beverages, with 12.5 percent from 10.9 percent in June 2024. See Table 2. 

“Transport Services with 4.7 percent from 2.5 percent in June 2024, and Alcoholic Beverages and Tobacco with 3.4 percent from 3.1 percent also showed a significant share to bottom 30 % income HHs’ inflation in July 2024,” Losare said. 

Losare expounded that the price increase on food and non-alcoholic beverages was mainly pushed by the fast-moving prices of Cereals and Cereal Products to 23.8 percent from 22.3 percent inflation in June 2024, while Transport pressed by the increasing price index of passenger transport services, whether providing full service or service alone with 5.1 percent from 3.5 percent in June 2024, and  Alcoholic Beverages and Tobacco was driven by the fast-changing price on Spirits and liquors with 5.7 percent from 4.9 percent inflation rate. Health also rose in inflation with 0.1 percent from -0.3 percent.

In contrast, commodity groups that registered slower inflation rates during the month were Clothing and Footwear, 2.3 percent from 2.5 percent; Housing, Water, Electricity, Gas and Other Fuels, 0.7 percent from 2.2 percent; Furnishings, Household Equipment and Routine Household Maintenance, 2.4 percent from 3.4 percent; Recreation, Sport and Culture, 13.3 percent from 14.3 percent.

Moreover, Information and Communication, Education Services, Restaurant and Accommodation Services, and Financial Services retained their previous month’s annual rates. See Table 2.

“The bottom 30% income HHs in Guimaras posted a 134.8 index, indicating that a typical low-income Guimarasnon household needs 1,348.0 pesos in July 2024 to purchase a basket of goods and services worth 1,000.00 pesos in 2018. The value is higher than the 133.8 CPI in June 2024 and higher than the 124.2 CPI in July 2023," Losare said.

Losare also highlighted that based on the relative poverty concept, households whose per capita income falls below the bottom 30 percent of the cumulative per capita distribution belong to the low-income group.

"The inflation rate for the bottom 30 percent income households, who are especially vulnerable to economic and social difficulties, was measured to assess their well-being", Losare said.