This report presents the Headline Inflation Rate (IR) for all income households in the province of Cavite during the month of June 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 2.0 percent for the month of June 2024, a dropped of 0.7 percent from 2.7 percent last month (see Table 1 and Figure 1).

The deceleration in the province’s inflation rate for the month of June 2024 was primarily due to the decrease in the annual growth rate in the index of the commodity group, Housing, Water, Electricity, Gas and Other Fuels with -2.9 percent deflation with an 88.4 percent contribution to June 2024 inflation. Also contributing to the downtrend in overall inflation were the decreases in the indices of the following commodity groups:
•    Transport, 2.8 percent
•    Clothing and Footwear, 5.7 percent
•    Alcoholic Beverages and Tobacco, 2.5 percent
•    Health, 1.4 percent

Meanwhile, the inflation of the following commodity groups increased this month compared to the last month’s inflation:
•    Food and Non-alcoholic Beverages, 4.0 percent
•    Furnishing, Household Equipment and Routine Household Maintenance,
2.8 percent 
•    Information and Communication, -0.3 percent 
•    Recreation, Sport and Culture, 2.7 percent

The commodity groups Educational Services (1.7 percent), Restaurants and Accommodation Services (5.5percent), Financial Services (-4.9 percent) and Personal Care, and Miscellaneous Goods and Services (1.9 percent) were stable this month.

For Food, the inflation still showed much higher increment with 4.3 percent for the month of June 2024 compared to reported 3.4 percent last May 2024 (see Table 3).

Also, an increase in annual growth rate of the following food groups were observed compare to last month’s inflation:
•    Meat and other parts of slaughtered land animals, 3.9 percent 
•    Fish and other seafoods, -1.6 percent
•    Oils and fats, -3.8 percent
•    Vegetables, tubers, plantains, cooking bananas and pulses, 12.8 percent
•    Ready-made food and other food products n.e.c., 4.8 percent

Meanwhile, there were decrease in the annual growth rate of the following food groups:
•    Cereals and cereal products, 9.5 percent 
•    Milk, other dairy products and eggs, -0.2 percent
•    Fruits and nuts, -0.1 percent
•    Sugar, confectionery and desserts, -4.2 percent

Lastly, Inflation for Rice decelerated to 15.1 percent from 17.6 percent last month while the deflation for Corn was observed at -15.6 percent (from -19.1 percent) this June 2024.