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Release Date :
Reference Number :
2024-19

 

Food inflation in Guimaras quickly moved to 9.0% in February 2024 from 6.3% in January 2024 due to the fast-moving retail price of rice with 24.7% inflation, faster than the previous month’s rate at 18.4%, based on the latest price statistics released by the Philippines Statistics Authority (PSA).

Figure 1. Headline Inflation rates in Guimaras, Food Items: February (2022-2023) (2018=100)

 

Rice inflation in Guimaras showed an erratic movement for the past 13 months, but from the last quarter of 2023, its price increased, continually soared until February 2024.

Rice categorized under the items of Cereals and cereal products which posted the highest share to inflation trend of 60.6% and with the largest contribution of 70.0% to February 2024 Food inflation in Guimaras.

Meat and other parts of slaughtered land animals with 14.4% inflation recorded the second largest share of 19.9% to the trend and second largest contribution of 17.4% to the February Food inflation pushed by the increasing retail cost of Meat of pigs, fresh, chilled, or frozen with 32.7% inflation.

Vegetables, tubers, plantains, cooking bananas and pulses with a -6.5% inflation came third as to the highest share to inflation trend with 10.4%, while the third largest contributor came from the group of Fish and other seafood with 4.1% inflation posting a significant cut of 8.4 %.

Table 1. Top 3 major sources and contributors to Guimaras Food Inflation rate in February 2024

 

The price statistics results also showed that among the nine food groups, four of which posted a downtrend inflation from January 2024 to February 2024 (Milk, other dairy products and eggs; Milk, other dairy products and eggs; Oils and fats; Sugar, confectionery and desserts; and Ready-made food and other food products n.e.c.). See table 2

Table 2: Major share to the year-on-year food inflation Trend for February 2024: All Income Households, Guimaras

 

Likewise, five of nine food groups posted uptrend inflation from January 2024 to February 2024 (Cereals and cereal products; Meat and other parts of slaughtered land animals; Fish and other seafood; Fruits and nuts; and Vegetables, tubers, plantains, cooking bananas and pulses). See table 2

The data also showed that food inflation of low-income households climbed to 9.6% from 6.8% food inflation for the bottom 30% earners in January 2024.

Guimaras post fastest food inflation in WV 
Among the six provinces in Western Visayas, Guimaras recorded the fastest food inflation rate in February 2024, followed by Antique and Aklan, with 8.9% and 7.6% inflation, respectively.

Negros Occidental registered the slowest inflation in Region VI with 3.6%, followed by Capiz and Iloilo with 4.1% and 3.6% price increment, correspondingly.

Figure 2: Food Inflation in Region VI (2018=100): February (2023 - 2024)

 

Meanwhile, the data showed that only Aklan and Negros Occidental recorded a slower movement on food inflation rate in Region VI.

 

Attachment

Summary Bottom 30 % Income HHs’ Inflation Report, Consumer Price Index (2018=100): Guimaras April 2024

The Guimaras’ inflation for the bottom 30 % income HHs soared to 8.6 percent in April 2024 from 8.5 percent in March 2024, bringing the provincial average inflation for low-income from January to…

Summary Food Inflation Report Consumer Price Index (2018=100): Guimaras April 2024

The Guimaras’ headline food inflation expanded to 11.6 percent in April 2024 from 10.8 percent in the previous month, the highest food inflation recorded in thirteen months. In April 2023, food…

Summary Inflation Report Consumer Price Index (2018=100): Guimaras April 2024

The Guimaras’ headline inflation or overall inflation slowed to 6.8 percent in April 2024 from 7.2 percent in March 2024, bringing the provincial average inflation from January to April 2024 to 6.1…