This report presents the Headline Inflation Rate (IR) for all income households in the province of Cavite during the month of July 2024.

Inflation Rate (IR) is the annual rate of change or the year-on-year change of the CPI expressed in percent. Inflation is interpreted in terms of declining purchasing power of money.

The Headline Inflation in the Province of Cavite was reported at 2.2 percent for the month of July 2024, an increase of 0.2 percent from 2.2 percent last month (see  Table 1 and Figure 1).

The acceleration in the province’s inflation rate for the month of July 2024 was primarily due to the increase in the annual growth rate in the index of the commodity group, Transport with 3.0 percent inflation with a 15.1 percent contribution to overall July 2024 inflation. Also contributing to the uptrend in overall inflation were the increases in the indices of the following commodity groups:
• Clothing and Footwear, 6.0 percent
• Personal Care, and Miscellaneous Goods and Services, 2.3 percent
• Furnishing, Household Equipment and Routine Household Maintenance,
2.9 percent
• Education Services, 2.1 percent
• Information and Communication, -0.1 percent
• Housing, Water, Electricity, Gas and Other Fuels, -1.4 percent

Meanwhile, the inflation rate of the following commodity groups decreased this month compared to the last month’s inflation:
• Food and Non-alcoholic Beverages, 3.8 percent
• Restaurant and Accommodation Services, 4.3 percent
• Alcoholic Beverages and Tobacco, 1.9 percent
• Health, 1.1 percent
• Recreation, Sport and Culture, 2.5 percent

The commodity group Financial Services (-4.9 percent) was stable this month.

For Food, the inflation still showed much lower increment with 3.9 percent for the month of July 2024 compared to reported 4.3 percent last June 2024 (see Table 3).

Also, a decrease in annual growth rate of the following food groups were observed compare to last month’s inflation:
• Cereals and cereal products, 8.6 percent 
• Fish and other seafoods, -1.9 percent
• Milk, other dairy products and eggs, -1.3 percent
• Vegetables, tubers, plantains, cooking bananas and pulses, 6.8 percent

Meanwhile, there were increase in the annual growth rate of the following food groups:
• Meat and other parts of slaughtered land animals, 5.4 percent 
• Oils and fats, -3.4 percent
• Fruits and nuts, 4.8 percent
• Sugar, confectionery and desserts, -4.1 percent 
• Ready-made food and other food products n.e.c., 5.4 percent

Lastly, Inflation for Rice decelerated to 13.6 percent from 15.1 percent last month while the deflation for Corn was observed at -13.6 percent (from -15.6 percent) this July 2024.