1. Guimaras Food Inflation

The food inflation rate of Guimaras province went down to 4.7 percent in October 2024 from 5.5 percent in September 2024, bringing the provincial average of food inflation from January 2024 to October 2024 to 8.8 percent. The food inflation rate for October 2023 was at 9.0 percent. (Figure 1).

1.1 Main Drivers to the downtrend of Food Inflation

The deceleration of food inflation in October 2024 was primarily influenced by the monthly price change on Fish and other seafood with -5.4 percent inflation during the month, from 0.7 percent in the previous month, accounting for an 80.5 percent share in the October 2024 food inflation rate of Guimaras.

Also sharing to the downtrend of food inflation were the slower price movements in Meat and other parts of slaughtered land animals with 8.9 percent from 10.2 percent in September 2024 with 10.1 percent share to October 2024 food inflation.

Likewise, Fruits and nuts posted -5.7 percent inflation slower against -3.1 percent in September 2024.

Other commodities which showed gradual decrease in food inflation rates in October from September 2024 were: 

a) Ready-made food and other food products, 5.4 percent from 6.5 percent; and 

b) Oils and fats, -0.9 percent from -0.7percent;

In contrast, the following were the food items with faster inflation in October against September 2024:

a) Cereals and cereal products, 20.2 percent from 18.8 percent; 

b) Milk, other dairy products and eggs, 3.7 percent from 3.6 percent; 

c) Vegetables, tubers, plantains, cooking bananas and pulses, -13.0 percent from -16.8 percent; and

d) Sugar, confectionery and desserts, -5.5 percent from -8.3 percent

1.2 Main Contributors to Food Inflation in October 2024

The top three commodity groups that contributed to the October 2024 overall food inflation were the following: 

a) Cereals and cereal products, with a 113.3 percent contribution or 5.32 percentage points; 

b) Meat and other parts of slaughtered land animals with 17.1 percent contribution or 0.80 percentage points; and 

c) Milk, other dairy products and eggs with 4.0 percent contribution or 0.19 percentage points.

2. Guimaras Core Inflation

Core food inflation, which excludes selected food items, decreased to 1.1 percent in October 2024 from 3.2 percent in the previous month. In September 2023, core food inflation was higher at 12.0 percent. (Table 1)

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

The food inflation rate for Guimaras' bottom 30% income households moved slower to 6.4 percent in October 2024 from 6.9 percent in the previous month. In October 2023, the food inflation for low-income HHs was at 9.2 percent.

The deceleration of food inflation for low-income HHs in Guimaras in October 2024 was primarily influenced by the sluggish price change in Fish and other seafood, with -5.5 percent inflation during the month, from -1.0 percent in the previous month accounting for 77.4 percent share to the October 2024 food inflation for low income HHs in Guimaras.

Also sharing to the downtrend of food inflation for bottom 30% income HHs were the slow price movement in Meat and other parts of slaughtered land animals at 8.7 percent from 10.1percent in September 2024 with 10.4 percent share to October 2024 food inflation for low income.

Other commodities which showed gradual decrease in food inflation rates for low income HHs in October from September 2024 were:

a) Fruits and nuts, -4.5 percent from -2.0 percent; and 

b) Ready-made food and other food products, 10.2 percent from 12.9 percent;

Food items with accelerating inflation rate in October from September were Cereals and cereal products with 21.7 percent inflation from 20.3 percent; Milk, other dairy products and eggs with 3.7 percent from 3.4 percent; Vegetables, tubers, plantains, cooking bananas and pulses with -11.9 percent from -15.1 percent; and Sugar, confectionery and desserts with -7.7 percent from -10.7 percent inflation.

On the other hand, the top three commodity groups contributing to the October 2024 from September 2024 overall food inflation for low income HHs were the following:

a) Cereals and cereal products, with a 111.6 percent contribution or 7.14 percentage points; 

b) Meat and other parts of slaughtered land animals with 9.3 percent contribution or 0.59 percentage points; and 

c) Ready-made food and other food products n.e.c. with 3.0 percent contribution or 0.19 percentage points.