Headline inflation in the province of Capiz decreased to 2.9 percent in November 2024, down from 3.2 percent in October 2024. This figure marks the second-lowest inflation rate for 2024 and the lowest recorded in the past twenty-four months since the base year was adjusted to 2018. In comparison, inflation in November 2023 was notably higher at 5.5 percent. The average inflation rate in Capiz for the year has slightly decreased to 3.6 percent compared to the previous month. For the Western Visayas, the average inflation rate is 3.7 percent, 0.5 percent higher than the national average inflation rate of 3.2 percent (see Figure 1, Table A, and Table D).

The decrease in inflation in the province can be attributed to a decline in the most heavily weighted commodity group, Food and Non-Alcoholic Beverages. This group fell from 5.3 percent in October 2024 to 4.5 percent in November. However, this decline was partially offset by a slight increase in the Non-Food commodity group, which rose from 1.2 percent in October 2024 to 1.6 percent in November 2024.

The increase in the Non-Food commodity group was mainly attributed to improvements in the Transport category, which saw a decrease of 1.6 percent compared to a decline of -2.7 percent in the previous month. Additionally, the Housing, Water, Electricity, Gas, and Other Fuels category recorded an uptick, rising to 2.8 percent from 2.4 percent in October 2024 (see Table B and Table C).

Other non-food commodity groups either suffered a decline or maintained their previous marks during the period such as:

1.       Health, 1.5 percent vs 1.8 percent

2.       Clothing and Footwear, 2.5 vs 2.7

3.       Furnishings, Household Equipment and Routine Household Maintenance, 1.1 percent vs 1.2

4.       Personal care and Miscellaneous goods services 2.1 percent vs 2.2 percent

The most significant decline within the Food and Non-Alcoholic Commodity Group occurred in the category of Meat and Other Parts of Slaughtered Land Animals, which dropped from 11.3 percent to 1.5 percent in November 2024. Similarly, Fish and Other Seafood experienced a decrease, falling from -0.9 percent to -2.5 percent during the same month. Fruits and Nuts also saw a decline, decreasing from 3.3 percent in October 2024 to 2.5 percent in November 2024. Additionally, Corn's inflation rate fell from 0.9 percent to 0.4 percent. Ready-made Food and Other Food Products Not Elsewhere Classified (NEC) also reported a downward trend, with inflation decreasing from 7.4 percent in October to 6.9 percent in November 2024.

Several food commodities within the food index group have seen price increases. Notably, the prices of Vegetables, Tubers, Cooking Bananas, and Pulses rose from    -4.8 percent in October 2024 to -0.6 percent in November 2024. Additionally, the prices for Oils and Fats increased from 1.1 percent to 4.9 percent during the same period (see Table C). 

Meanwhile, the following food groups experienced rising inflation compared to the previous month:

1. Rice: 22.4 percent vs. 21.0 percent

2. Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals: 2.1 percent vs. 1.3 percent

3. Milk and other dairy products, including eggs: 2.4 percent vs. 1.5 percent

The annual rate for non-alcoholic beverages remained steady at 0.7 percent in November 2024. In contrast, the rate for alcoholic beverages and tobacco declined to 2.9 percent during this period, down from 3.3 percent the previous month (see Table C).