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Release-Date
Reference-Number
2024-SR-006

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

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.

Headline inflation in the Province of Cavite increased to 3.1 percent for the month of March 2024. It is higher by 0.6 percent compared to last month’s inflation rate of 2.5 percent (see Table 1 and Figure 1).

The acceleration in the province’s inflation rate for the month of March 2024 was primarily due to the increase in the annual growth rate in the index of the commodity group Food and Non-alcoholic Beverages, with 4.3% inflation with an 89.7% contribution to March 2024 inflation. Also contributing to the uptrend in overall inflation were the increases in the indices of the following commodity groups:
• Clothing and Footwear, 5.0 percent
• Furnishing, Household Equipment and Routine Household Maintenance, 2.1 percent 
• Recreation, Sport and Culture, 3.0 percent
• Health, 1.4 percent

Meanwhile, the inflation of the following commodity groups declined this month compared to last month’s inflation:
• Alcoholic Beverages and Tobacco, 5.3 percent
• Housing, Water, Electricity, Gas and Other Fuels, 1.2 percent
• Information and Communication, -0.6 percent

And commodity groups Transport (2.2 percent), Educational Services (1.7 percent), Restaurants and Accommodation Services (6.8 percent), Financial Services (-4.9 percent) and Personal Care, and Miscellaneous Goods and Services (2.4 percent) were stable this month.

For Food, the inflation showed higher increment with 4.7 percent for the month of March 2024 compared to reported 2.1 percent last month (see Table 3).

The annual growth rate of the following food groups displayed higher increments during the month:
• Cereals and cereal products, 10.8 percent
• Meat and other parts of slaughtered land animals, 2.6 percent
• Milk, other dairy products and eggs, 1.6 percent
• Fruits and nuts, 15.6 percent
• Vegetables, tubers, plantains, cooking bananas and pulses, 4.2 percent

Meanwhile, the following food groups showed disinflation this month compared to last month’s inflation:
• Fish and other seafoods, 0.1 percent
• Oils and fats, -8.8 percent
• Sugar, confectionery and desserts, -1.1 percent 
• Ready-made food and other food products n.e.c., 3.7 percent

Lastly, Inflation for Rice accelerated to 15.7 percent and -13.9 percent for Corn this month of March 2024 compared to 14.9 percent and -17.1 percent in February 2024 respectively.
 

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