October 2024 Summary of Inflation Report of Capiz for the Bottom 30% Income Households

Release Date :
Reference Number :
2024-25

The headline inflation rate for the bottom 30% of income households in the province of Capiz remained constant at 4.2 percent in October 2024. As a result, the average inflation rate for this income group from January to October 2024 is now 4.5 percent. 

In comparison, the inflation rate in October 2023 was much higher at 7.2 percent. (See Table A and Figure 1)

The main cause of the provincial inflation maintaining its level despite the decrease in the index of the most heavily weighted commodity group, Food and non-alcoholic beverages, drop to 6.3 percent from 6.4 percent in September 2024. This decrease was offset by the Non-food commodity groups, which increased in selected commodity groups. The surge was led by Transport, which rose to -1.8 percent from -3.1 percent in the previous month. This was followed by Housing, water, electricity, gas and other fuels which increased by 2.0 percent from 1.8 percent in September 2024 while Clothing and footwear also rose to 2.7 percent from 2.6 percent in the previous month. (See Table 2)

Aside from the Food and non-alcoholic beverages, there was also an annual inflation drop in the following commodity groups:

  1.       Alcohol beverages and tobacco, from 3.5 percent to 3.0 percent

  2.     Furnishings, household equipment and routine household, 1.7 percent from 1.8 percent

  3.     Personal care, and miscellaneous goods and services, 2.3 percent from 2.4 percent

The indices of the rest of the commodity groups retain their respective previous month’s annual rates.

In terms of contributions to the overall 4.2 percent inflation rate for the bottom 30 percent income households in October, the top three contributors were:

  1.    Food and non-alcoholic beverages contribute 83.8 percent of the total inflation, or 3.52 percentage points

  2.      Housing, water, electricity, gas and other fuels contribute 6.4 percent of the total inflation, or 0.27 percentage points.

  3.      Restaurants and accommodation services contribute 3.8 percent of the total inflation, or 0.16 percentage points. (See Table 4)
Attachment
PDF CAPIZ_BOTTOM30_SR_102024.pdf