Release Date :
Reference Number :
SR-2025-002
CAPIZ HEADLINE FOOD INFLATION
The headline food inflation rate of Capiz up ticked to 4.9 percent in December 2024 from 4.8 percent in November 2024. This 0.1 percentage point increase indicates a slight acceleration in the rise of food prices month-over-month. Moreover, the December 2024 food inflation rate is 2.2 percentage points lower than the 7.1 percent recorded in December 2023. (Table 1 and Figure 1)
As shown in Table 1, Capiz’s food inflation is even higher than the regional and national levels in November and December 2024.
MAIN DRIVERS TO THE UPTREND OF THE HEADLINE FOOD INFLATION
The slight acceleration of food inflation in December 2024 was primarily influenced by the monthly increase in Cereals and cereal products with a 18.2 percent inflation during the month, from 17.3 percent in the previous month accounting for 97.9 percent contribution to the December 2024 food inflation rate in Capiz.
Also sharing to the uptrend of food inflation were observed in Ready-made food and other food products n.e.c. still constant at 6.9 percent in December 2024 with 4.5 percent contribution to December 2024 food inflation, and Milk, other dairy products and eggs with 2.1 percent from 2.4 percent in the previous month with 2.3 percent contribution.
In contrast, the following commodity groups registered slow food inflation rates during the month:
Meat and other parts of slaughtered land animals at -0.1 percent from 1.5 percent;
Fruits and nuts at 1.8 percent from 2.5 percent;
Milk, other dairy products and eggs at 2.1 percent from 2.4 percent.
MAIN CONTRIBUTORS TO HEADLINE INFLATION
The top three commodity groups contributing to December 2024 overall food inflation were the following:
a. Cereals and cereal products, with a 97.9 percent contribution with 4.80 percentage points;
b. Ready-made food and other food products n.e.c. with 4.5 percent contribution or 0.22 percentage points; and
c. Milk, other dairy products and eggs with 2.3 percent contribution or 0.11 percentage points.
FOOD INFLATION RATE FOR BOTTOM 30% INCOME HOUSEHOLDS
The food inflation rate for the bottom 30% income households in Capiz increased to 6.3 percent in December 2024 from 6.1 percent in November 2024. In December 2023, the food inflation was much higher at 7.2 percent.
The highest food inflation rate for the bottom 30% income households was 9.3 percent recorded in June 2024. Meanwhile, the lowest was seen in January 2024 with a 4.1 percent food inflation rate.
The highest food inflation rate for the bottom 30% income households was 9.3 percent recorded in June 2024. Meanwhile, the lowest was seen in January 2024 with a 4.1 percent food inflation rate.The highest food inflation rate for the bottom 30% income households was 9.3 percent recorded in June 2024. Meanwhile, the lowest was seen in January 2024 with a 4.1 percent food inflation rate.
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