Table A. Year-on-Year Inflation Rates, All Items

In percent

(2018=100)

Figure 1. Headline Inflation Rates in Benguet, All Items

(2018=100)

Table B. Year-on-Year Inflation in Benguet, By Commodity Groups

In percent

(2018=100)

Table C. Year-on-Year Food Inflation in Benguet

In percent

(2018=100)

Benguet

Headline Inflation

The headline inflation or overall inflation of the province increased to 3.0 percent in January 2025 from 1.8 percent in December 2024. In January 2024, the inflation rate was lower at 2.8 percent. (Figure 1, and Tables A and B)

Main Drivers to the Upward Trend of the Headline Inflation

The uptrend in the overall inflation in January 2025 was primarily brought about by housing, water, electricity, gas and other fuels at 5.5 percent from 3.5 percent in the previous month. Also contributing to the uptrend was food and non-alcoholic beverages with an annual increase of 3.0 percent during the month from a 1.4 percent annual in the previous month, and transport with 0.5 percent from -0.1 percent.

Higher annual increments were also noted in the indices of the following commodity groups during the month: 
a.    Restaurants and accommodation services, 2.5 percent from 1.7 percent;
b.    Personal care, and miscellaneous goods and services, 3.8 percent from 3.1 percent; 
c.    Alcoholic beverages and tobacco, 5.1 percent from 4.2 percent; and
d.    Recreation, sport and culture, 1.1 percent from 1.0 percent.

On the contrary, the indeces of the following exhibited a lower annual increase during the month:

a.    Furnishing, household equipment and routine maintenance, 1.7 percent from 1.8 percent; and
b.    Health, 3.1 percent from 3.4 percent.

The indices of the rest of the commodity groups retained their respective previous month’s annual rates.

Main Contributors to the Headline Inflation

The top three commodity groups contributing to the January 2025 overall inflation were the following:
a.    Housing, water, electricity, gas and other fuels;
b.    Food and non-alcoholic beverages; and
c.    Health.

Food Inflation
Food inflation at the provincial level increased to 3.0 percent in January 2025 from 1.3 percent in the previous month. In January 2024, food inflation was lower at 0.0 percent. (Table C)

Main Drivers to the Upward Trend of Food Inflation

The acceleration of food inflation in January 2025 was primarily brought about by vegetables, tubers, plantains, cooking bananas and pulses with 11.7 percent from -1.7 percent in the previous month. This was followed fish and other seafood with 3.9 percent from 1.8 percent, and meat and other parts of slaughtered land animals with 2.1 percent from 1.0 percent.

In contrast, the following commodity groups registered lower inflation rates during the month:
a.    Cereals and cereal products, 2.2 percent from 4.2 percent;
b.    Milk, other dairy products and eggs, 0.5 percent from 1.5 percent; and
c.    Sugar, confectionery and desserts, -0.4 percent from 0.1 percent.
Main Contributors to the Food Inflation
The top three food groups in terms of contribution to the food inflation during the month were the following:
a.    Vegetables, tubers, plantains, cooking bananas and pulses;
b.    Cereals and cereal products; and 
c.    Fish and other seafood.

Note: CPIs and inflation rates by region, province and selected city are posted at the PSA website (https://openstat.psa.gov.ph/).

IMELDA L. BUYUCCAN (SGD)
Chief Statistical Specialist

/DJPN