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)

_{Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority}

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 1.6 percent in October 2024 from 1.5 percent in September 2024. In October 2023, the inflation rate was higher at 4.6 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 October 2024 was primarily brought about by the higher annual increment of food and non-alcoholic beverages at -0.7 percent from 1.8 percent in the previous month. Also contributing to the downtrend was transport services with -0.2 percent from a -0.6 percent, and alcoholic beverages and tobacco, with 4.2 percent from 3.8 percent.
Higher annual increment was also noted in the index of health at 5.1 percent from 5.0 percent.
On the contrary, the index of the following exhibited a slower annual increase during the month:
a.    Clothing and footwear, 0.9 percent from 1.1 percent;
b.    Housing, water, electricity, gas and other fuels, 3.7 percent from 4.2 percent;
c.    Furnishings, household equipment and routine household maintenance, 3.9 percent from 5.0 percent;
d.    Information and communication, 0.3 percent from 0.5 percent;
e.    Recreation, sport and culture, -0.2 percent from 0.5 percent; and 
f.    Restaurants and accommodation services, 4.2 percent from 4.7 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.    Housing, water, electricity, gas and other fuels;
b.    Health; and 
c.    Restaurants and accommodation services.

Food Inflation
Food inflation at the provincial level increased to -1.0 percent from -2.0 percent in the previous month. In October 2023, food inflation was higher at 14.4 percent. (Table C)

Main Drivers to the Upward Trend of Food Inflation

The acceleration of food inflation in October 2024 was primarily brought about by vegetables, tubers, plantains, cooking bananas and pulses with -21.9 percent from -28.6 percent. This was followed by milk, other dairy products and eggs with 2.7 percent from 2.0 percent, and oils and fats with 0.5 percent from -0.5 percent.

Moreover, higher inflation rate during the month was also noted in sugar, confectionery and desserts with -1.3 percent from -1.5 percent.

In contrast, the following commodity groups registered higher inflation rates during the month:
a.    Cereals and cereal products, 5.3 percent from 6.5 percent;
b.    Meat and other parts of slaughtered animals, 4.0 percent from 4. percent; and
c.    Fish and other seafood, -2.0 percent from -1.3 percent;
d.    Fruits and nuts, 5.5 percent from 6.0 percent; and
e.    Ready-made food and other food products, 4.8 percent from 5.2 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.    Cereals and cereal products;
b.    Meat and other parts of slaughtered land animals;
c.    Fruits and nuts.

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