The headline inflation in the province of Capiz  slowed down to 2.8 percent in March 2024 from 3.2 percent recorded in February 2024, . This is one of the lowest recorded inflation for the last thirty eight months and the same with January 2024 which is also the lowest for the year since the base year was changed to 2018. Inflation in March 2023 was at 7.4 percent. The average inflation for the  year stood at 3.0 percent. (Figure 1 and Table A)

The sudden drop in the provincial inflation for  March 2024 after a surge from  the previous  period  was mainly caused by an  eye-catching   annual decrease in the index of one of the most heavily weighted commodity group Housing, Water, Electricity, Gas and other fuels   at  2.5 percent vs  5.5 percent in February 2024. This was bannered by one of the   most weighted items in the provincial CPI which is Electricity, Gas and other fuels at 4.0  percent  vs 10.5  percent in the previous month. 

Generally, the Non Food Commodity group also plummeted at 1.5 percent when compared to the previous period at 2.3 percent.  This was led by  Clothing and Footwear at 2.6 percent  vs 3.3 percent in February 2024 together with Health which slightly declined  at  1.3  percent vs 1.4 percent in its previous period. (Table 4)

On the other hand, the annual inflation rate of Transport  has shown an intensification at -0.7 percent vs -0.9. percent in February 2024, together with Restaurant and Accommodation Services  at 2.0 percent vs 0.6 percent in the previous month with other commodities that belong to the group had either retain its previous mark or  have a negligible percent annual change. (Table 4)

Overall  food index has increase at 4.6 percent  in March  2024 from 4.1 percent in the previous month. In March  2023, food index was much higher at  11.9 percent. Showing the way for the period was the notable surge of Rice index at 13.7 percent vs 10.6 percent in February 2024 together with Vegetable, tubers, plantains, cooking bananas and pulses, -6.4 percent  vs -9.6 percent (Table 7)

Meanwhile, the annual rate of Milk, and Other Dairy Products and Eggs, downed  at 1.6 percent during the reference period from 2.0 percent in the past month. Fish and Other Seafoods at -3.8 percent vs -2.1 percent in February 2024 together with Fruits and Nuts, at 2.6 percent vs 5.3 percent in the previous period, are some of the food  items  that drop significantly during the reference period. (Table 7)

In the meantime, the following food groups exhibited an annual changes or retain its previous mark during the period:

1. Sugar, Confectionery & Dessert -3.7 percent vs -2.8  percent in February  2024

2. Oil and Fats, 0.5  percent vs 0.8 percent in February 2024

3. Flour, Bread and Other Bakery Products, Pasta products and other Cereals, 2.6 percent vs 3.0  percent

4. Meat and Other Parts of Slaughtered Land Animals, 21.7 percent vs 20.9  percent.

5. Ready-made Food and Other Food Products NEC, 3.5 percent vs 4.4 percent

6. Corn, 4.1 percent vs 4.1 percent 

Moreover, the annual rate of Non-alcoholic beverages continued to plunge at 0.6 percent vs 1.3 percent  in its previous period, together with  Alcoholic Beverages and Tobacco  which also continued to fall  at  3.1  percent vs  6.6  percent in February  2024. (Table 9)