Table A. Year-on-Year Inflation Rates, All Items
In percent
(2018=100)

Figure 1. Headline Inflation Rates in Baguio City, All Items
(2018=100)
 

Table B. Year-on-Year Inflation in Baguio City, By Commodity Groups
In percent
(2018=100)

Table C. Year-on-Year Food Inflation in Baguio City
In percent
(2018=100)

Baguio City

Headline Inflation

The headline inflation or overall inflation of the city increased to 2.8 percent in November 2024 from 1.6 percent in October 2024. In November 2023, the inflation rate was higher at 3.0 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 November 2024 was primarily brought about by the higher annual increment of housing, water, electricity, gas and other fuels at 5.8 percent from 3.7 percent in the previous month. Also contributing to the downtrend was food and non-alcoholic beverages with 1.3 percent from a -0.7 percent, and transport with 1.0 percent from -0.2 percent. Higher annual increment was also noted in the index of recreation, sport and culture at -0.2 percent from 0 percent to 0.0 percent.
On the contrary, the index of the following exhibited a slower annual increase during the month:
a.    Alcoholic beverages and tobacco Clothing and footwear, 3.2 percent from 4.2 percent;
b.    Furnishings, household equipment and routine household maintenance, 3.4 percent from 3.9 percent;
c.    Restaurants and accommodation services, 1.4 percent from 4.2 percent; and
d.    Personal care, and miscellaneous goods and services, 3.7 percent from 3.9 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 October 2024 overall inflation were the following:
a.    Food and non-alcoholic beverages; 
b.    Housing, water, electricity, gas and other fuels; and
c.    Transport.

Food Inflation

Food inflation at the provincial level increased to 1.1 percent from -1.0 percent in the previous month. In November 2023, food inflation was higher at 6.9 percent. (Table C)
Main Drivers to the Upward Trend of Food Inflation
The acceleration of food inflation in November 2024 was primarily brought about by vegetables, tubers, plantains, cooking bananas and pulses with -10.5 percent from -21.9 percent. This was followed by cereals and cereal products with 6.6 percent from 5.3 percent, and meat and other parts of slaughtered animals with 4.4 percent from 4.0 percent. Moreover, higher inflation rate during the month was also noted in oils and fats, and sugar, confectionery and desserts with 1.5 percent and 0.8 percent, respectively.
In contrast, the following commodity groups registered lower inflation rates during the month:
a.    Fish and other seafood, -3.5 percent from -2.0 percent;
b.    Milk, other dairy products and eggs, 1.5 percent from 0.5 percent;
c.    Fruits and nuts, 4.9 percent from 5.5 percent; and
d.    Ready-made food and other food products, 4.4 percent from 4.8 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.    Fruits and nuts; and
c.    Sugar, confectionery and desserts.

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

/SMBP