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 0.8  percent in November 2024 from -0.2percent in October 2024. In November 2023, the inflation rate was higher at 4.5 percent. (Figure 1, and Tables A and B)

Main Drivers to the Upward Trend of the Headline Inflation

The downtrend in the overall inflation in November 2024 was primarily brought about by food and non-alcoholic beverages at -0.8 percent from -2.7 percent in the previous month. Also contributing to the uptrend was housing, water, electricity, gas and other fuels with an annual drop of 3.7 percent during the month from a 2.0 percent annual increase in the previous month, and clothing and footwear with 1.0 percent from 0.4 percent.
Higher annual increments were also noted in the indices of the following commodity groups during the month: 
a.    Transport, -1.8 percent from -2.0 percent;
b.    Information and communication, 0.2 percent from 0.1 percent; 
c.    Personal care, and miscellaneous goods and services, 3.0 percent from 2.8 percent.

On the contrary, the index of the following exhibited a lower annual increase during the month:
a.    Alcoholic beverages and tobacco, 3.3 percent from 3.2 percent; 
b.    Furnishings, household equipment and routine household maintenance, 2.0 percent from 2.2 percent;
c.    Recreation, sport and culture, 1.0 percent from 1.1 percent; and
d.    Restaurants and accommodation services, 1.4 percent from 1.9 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 November 2024 overall inflation were the following:
a.    Housing, water, electricity, gas and other fuels;
b.    Food and non-alcoholic beverages; and
c.    Transport.

Food Inflation

Food inflation at the provincial level increased to -1.1 percent in November 2024 from -3.0 percent in the previous month. In November 2023, food inflation was higher at 5.6 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 -14.7 percent from -26.4 percent in the previous month. This was followed by fruits and nuts with -3.8 percent from -4.7 percent, and sugar, confectionery and desserts with -1.2 percent from -2.1 percent.
In contrast, the following commodity groups registered lower inflation rates during the month:
a.    Cereals and cereal products, 3.7 percent from 3.8 percent;
b.    Meat and other parts of slaughtered land animals, 1.2 percent from 1.3 percent;
c.    Fish and other seafood, 0.9 percent from 1.0 percent;
d.    Milk, other dairy products and eggs, 1.7 percent from 4.2 percent; 
e.    Oils and fats, -1.4 percent from -1.3 percent; and
f.    Ready-made food and other food products not elsewhere classified, 0.9 percent from 2.4 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