Release Date :
Reference Number :
PR-202501-0645-03
Table 1. Year-on-Year Inflation Rate for Bottom 30% Income Households, All Items (2018=100) in percent
Area | December 2023 | November 2024 | December 2024 | Year-to-Date |
Philippines | 5.0 | 2.9 | 2.5 | 4.2 |
Western Visayas | 4.1 | 3.7 | 3.7 | 4.5 |
Negros Occidental | 3.8 | 3.2 | 3.9 | 4.0 |
Bacolod City | 5.7 | 3.1 | 2.5 | 4.7 |
*Year-on-year change of the Average CPI from January to December 2024 vs. 2023
Figure 1. Inflation Rates for the Bottom 30% Income Households in the province of Negros Occidental, All Items (2018=100)
A. Negros Occidental
Highlights of the press conference includes the Bottom 30% Income Households in Negros Occidental increased to 3.9% in December from 3.2% in November 2024. In December 2023, the inflation rate was posted at 3.8%
Highlights of the press conference includes the Bottom 30% Income Households in Negros Occidental increased to 3.9% in December from 3.2% in November 2024. In December 2023, the inflation rate was posted at 3.8% (Please see Table 1 and Figure 1).
For Negros Occidental Bottom 30% Income Households, the following commodity groups were the top three main sources of acceleration to the December 2024 inflation:a. Food and Non-Alcoholic Beverages at 3.8% inflation in December from 3.5% inflation in November 2024, with 54.4% share,
b. Housing, Water, Electricity, Gas and Other Fuels at 4.4% inflation in December from 1.5% inflation in November 2024, with 15.5% share,
c. Restaurants and Accommodation Services at 8.2% inflation both in December and November 2024, with 15.2% share.
Meanwhile, the top three major contributors to the December 2024 inflation for Bottom 30% Income Households in Negros Occidental are:
a. Housing, Water, Electricity, Gas and Other Fuels at 4.4% inflation in December from 1.5% in November 2024, with 56.2% share,
b. Food and Non-Alcoholic Beverages at 3.8% inflation in December from 3.5% in November 2024, with 23.6% share,
c. Transport at 0.5% inflation in December from -1.4% in November 2024, with 15.4% share.
Figure 2. Inflation Rates for the Bottom 30% Income Households in
Bacolod City, All Items (2018=100)
Source: P
B. Bacolod City
Meanwhile, for the Bottom 30% Income Households in Bacolod City decreased to 2.5% in December from 3.1% in November 2024. In December 2023, the inflation rate was posted at 5.7%.
For Bacolod City Bottom 30% Income Households, the following commodity groups were the top three main sources of deceleration to the December 2024 inflation:
a. Food and Non-Alcoholic Beverages at 2.1% inflation in December from 3.8% inflation in November 2024, with 41.5% share,
b. Restaurants and Accommodation Services at 5.8% inflation both in December and November 2024, with 20.9% share,
c. Clothing and Footwear at 13.3% inflation in December from 13.4% inflation in November 2024, with 15.1% share.
Meanwhile, the top two major contributors to the December 2024 inflation for Bottom 30% Income Households in Bacolod City are:
a. Food and Non-Alcoholic Beverages at 2.1% inflation in December from 3.8% in November 2024, with 92.1% share,
b. Housing, Water, Electricity, Gas and Other Fuels at -0.3% inflation in December from 0.1% in November 2024, with 7.3% share.
Moreover, the twelfth press conference on Inflation Report of Negros Occidental and Bacolod City for the month of December 2024 garnered support from the public and media personnel who watched the online livestream through the PSA Negros Occidental official Facebookpage https://www.facebook.com/psa0645negocc and Google Meet Link https://meet.google.com/gpc-emxu-fddusing the hashtag #NegOccBCDCPI. With this, PSA Negros Occidental is set to the conduct the Press Conference on Inflation every month.
DEFINITION OF TERMS AND CONCEPT USED:
Consumer Price Index (CPI) is a measure of change in the average retail prices of a fixed basket of commodities or goods and services commonly purchased by the households relative to a base year or base period.
Base year or base period is a reference period, usually a year, at which the index number is set to 100. It is the reference point of the index number series.
Inflation rate refers to the annual rate of change or the year-on-year change of the CPI expressed in percentage.
The inflation rate can be positive or negative (deflation). A positive inflation rate means that the prices of commodities have increased compared with their prices in the previous year. Negative inflation means that the prices of commodities have decreased compared with their prices in the previous year.
A positive but lower inflation rate compared to the previous month’s inflation rate means that the prices of commodities for the current month have increased year-on-year but at a slower rate than the year-on-year increase in the previous month. It does not mean that the prices of commodities have decreased.
Bottom 30% Income Households – The CPI for the bottom 30% income households is compiled by the PSA to measure the changes of prices of commodities commonly purchased by the families that belong to the bottom 30% income decile. The process of price collection and CPI computation is the same as that of the CPI for all income households. However, there is a separate market basket and weights for the CPI for the bottom 30% income households.
Purchasing Power of Peso (PPP) is a measure of the real value of the peso in a given period relative to the base period.
Source: psa.gov.ph
