10 June 2024 – Guimaras. May 2024 Inflation for the bottom 30% income Households (HHs) in Guimaras posted at 8.8 percent, the highest price increase since May 2023, as indicated in the latest price statistics from the Philippines Statistics Authority (PSA). 

“Inflation for the bottom 30% income HHs recorded a provincial average of 7.7 percent from January to April 2024,” Provincial Statistics Officer Nelida B. Losare said.

The uptrend inflation for the low-income HHs in May was influenced by the heavily weighted food and non alcoholic beverages, with 12.7 percent from 12.2 percent in April 2024.

“Restaurant and Accommodation Services with 5.1 percent from 2.9 percent in March 2024, and Transport with 2.8 percent from 1.8 percent also showed a significant share to bottom 30 % income HHs’ inflation in May 2024,” Losare said.

Losare expounded that the price increase of food and non-alcoholic beverages was mainly pushed by the fast moving prices of Fish and other seafood to 4.1 percent from 1.0 percent inflation in April 2024, while Restaurant and Accommodation Services pressed by the increasing price index of restaurants, cafes, and similar establishments, whether providing full service or service alone with 5.1 percent from 2.9 percent in April 2024, and Transport was driven by the fast-changing price on Passenger transport by sea and inland waterway with 96.8 percent from 32.3 inflation rate.

In contrast, commodity groups that registered slower inflation rates during the month were: Alcoholic Beverages and Tobacco, 3.7 percent from 9.9 percent; Clothing and Footwear, 3.5 percent from 3.6 percent; Furnishings, Household Equipment and Routine Household Maintenance, 3.5 percent from 3.6 percent; Health, 0.7 percent from 0.8 percent; and Personal Care, and Miscellaneous Goods and Services, 4.1 percent from 4.4 percent.

Moreover, Recreation, Sport and Culture, Education Services, and Financial Services retained their previous month’s annual rates. (Table 2)

Meanwhile, the top three commodity groups contributing to the April 2024 overall inflation were; Food and Non Alcoholic Beverages with an 88.8 percent share or 7.82 percentage points; Restaurants and Accommodation Services, with 2.0 percent share or 0.18 percentage points; and Furnishings, Household Equipment, and Routine Household Maintenance, with 1.9 percent share or 0.16 percentage points.

Losare further expounded that the bottom 30 % income HHs in Guimaras posted a 134.0 index, indicating that a typical low-income Guimarasnon household needs 1,340.0 pesos in May 2024 to purchase a basket of goods and services worth 1,000.00 pesos in 2018. The value is lower than the 133.3 CPI in April 2024 and higher than the 123.2 CPI in May 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. 

Losare stated, "The inflation rate for the lowest 30 percent of income households, who are particularly susceptible to economic and social challenges, was calculated to monitor their well-being."