Inflation rate in the province of Antique slowed down to 5.7 percent in May 2024. From 5.7 percent in April 2024. The recorded inflation rate in May 2023 was higher at 6.2 percent.

The May 2024 provincial inflation rate was higher as compared to the national and regional inflation rates. The inflation rate in the Philippines increased slightly to 3.9 percent in May 2024, from 3.8 percent in April 2024. The national inflation rate in May 2023 was significantly higher at 6.1 percent. Further, the inflation rate of Western Visayas continues to increase at 4.3 percent in May 2024, from 4.1 percent in April 2024. The recorded inflation rate for Western Visayas in May 2023 was also significantly higher at 7.1 percent.

The decrease in the province’s inflation in May 2024 was mainly influenced by the slower annual increase in the indices of Food and non-alcoholic beverages at 8.4 percent in May 2024, from 10.9 percent in April 2024; Alcoholic beverages at 2.2 percent in May 2024, from 5.6 percent in April 2024; and, Health at 3.7 percent in May 2024, from 4.0 percent in April 2024. 
 

Moreover, higher annual increments were observed for the following commodity groups:

a.    Housing, water, electricity, gas and other fuels, 3.2 percent;
b.    Transport, 4.3 percent;
c.    Information and communication, 0.2 percent; and,
d.    Personal care, and miscellaneous good and services, 1.3 percent.

The indices for the following commodity groups, however, showed no changes from its last month’s inflation rate:

a.    Clothing and footwear, 2.1 percent;
b.    Furnishings, household equipment and routine household, 1.6 percent;
c.    Recreation, sport and culture, 3.1 percent;
d.    Education services, 2.8 percent;
e.    Restaurants and accommodation services, 5.4 percent; and, 
f.    Financial services, -0.1 percent.    

The recorded food inflation rate was recorded at 8.8 percent in May 2024, from 11.5 percent in April 2024. The food commodity group with the highest share to food inflation trend was Fish and other seafood at -9.5 percent in May 2024, from -3.8 percent in April 2024.

Further, slower annual increments were also observed for the following food commodity groups:

a.    Cereals and cereal products, 27.9 percent;
b.    Meat and other parts of slaughtered land animals, 10.9 percent;
c.    Milk, other dairy products and eggs, 3.9 percent;
d.    Oils and fats, 2.9 percent;
e.    Fruits and nuts, 4.0;
f.    Vegetables, tubers, plantains, cooking bananas and pulses, -0.9 percent; and,
g.    Sugar, confectionery and desserts

Moreover, higher annual increment was observed for Ready-made food and other food products n.e.c. at 3.4 percent in May 2024, from 3.0 percent in April 2024.

RANDY M. TACOGDOY, DPA
Chief Statistical Specialist
Antique Provincial Statistical Office

/JKV