1. Guimaras Headline Food Inflation

The headline food inflation rate of Guimaras province went up to 11.4 percent in July 2024 from 9.8 percent in June 2024. The 1.6 percentage point increase indicates an acceleration in the rise of food prices month-over-month. Moreover, the July 2024 food inflation rate is 7.4 percentage points higher than the 4 percent recorded in July 2023. (Table 1 and Figure 1)

As shown in Table 1, Guimaras' food inflation is even higher than the regional and national levels in June and July 2024.

1.1 Main Drivers to the Uptrend of the Headline Food Inflation

The acceleration of food inflation in July 2024 was primarily influenced by the monthly increase in Cereals and cereal products, with 22.3 percent inflation during the month, from 20.8 percent in the previous month, accounting for a 38.7 percent share in the July 2024 food inflation rate of Guimaras.

Also sharing to the uptrend of food inflation were the fast increases observed in Meat and other parts of slaughtered land animals at 19.4 percent from 16.6 percent in June 2024 with 24.7 percent share to July 2024 food inflation, and Fruits and Nuts with -9.7 percent from 16.0 percent in the previous month with 19.1 percent share.

Other food items that moved faster in July from June were Vegetables, tubers, plantains, cooking bananas, and pulses, posting inflation of 12.7 percent from 10.2 percent; Fish and other seafood with 2.6 percent from 2.3 percent; and Oils and fats with -0.1 percent from -1.3 percent.

In contrast, the following commodity groups registered slower food inflation rates during the month:

     a. Milk, other dairy products, and eggs at 4.1 percent from 4.4 percent;

     b. Sugar, confectionery and desserts at -8.2 percent from -8.0 percent; and

          c. Ready-made food and other food products at 9.0 percent from 11.0 percent;

     1.2 Main Contributors to Food Inflation in July 

The top three commodity groups contributing to the July 2024 overall food inflation were the following: a) Cereals and cereal products, with a 68.0 percent contribution or 7.75 percentage points; b) Meat and other parts of slaughtered land animals with 14.5 percent contribution or 19.80 percentage points; and c) Vegetables, tubers, plantains, cooking bananas and pulse with 7.3 percent contribution or 0.83 percentage points.

2. Guimaras Core Inflation

Core inflation, which excludes selected food and energy items, slightly inched up to 5.6 percent in July 2024 from 5.3 percent in the previous month. In July 2023, core inflation was higher at 9.2 percent. (Table 1)

3. Food Inflation Rate for the Bottom 30% Income Households

The food inflation rate for Guimaras' bottom 30% income households moved quicker to 13.1 percent in July 2024 from 11.4 in the previous month. In July 2023, the food inflation was at 3.4 percent.

The acceleration of food inflation for low-income HHs in Guimaras in July 2024 was primarily influenced by the monthly increase in Cereals and cereal products (ND), with 23.8 percent inflation during the month, from 22.3 percent in the previous month accounting for 43.2 percent share to the July 2024 food inflation rate in Guimaras.

Also sharing to the uptrend of food inflation were the fast increases in Meat and other parts of slaughtered land animals at 20.6 percent from 17.3 percent in June 2024 with 19.7 percent share to July 2024 food inflation, and Vegetables, tubers, plantains, cooking bananas and pulses with 13.1 percent from 9.2 percent in the previous month with 15.7percent share.

Other food items with a speedy inflation rate in July from June were Fruits and nuts with -8.4 percent from -14.5 percent; Fish and other seafood with 2.9 percent from 2.4 percent; Oils and fats with -2.8 percent from -4.1 percent; and Milk, other dairy products and eggs with 4.1% from 4.0 percent inflation. 

In contrast, the following commodity groups registered slower food inflation rates during the month:

         a. Sugar, confectionery and desserts at -10.6 percent from -10.4 percent; and

         b. Ready-made food and other food products at 17.5 percent from 20.7 percent

On the other hand, the top three commodity groups contributing to the July 2024 overall food inflation were the following:

         a. Cereals and cereal products, with a 75.3 percent contribution or 9.86 percentage points;

         b. Meat and other parts of slaughtered land animals with 13.5 percent contribution or 1.77                    percentage points; and

         c. Vegetables, tubers, plantains, cooking bananas and pulses with 5.8 percent contribution or 0.76               percentage points.