This report presents the Headline Inflation Rate (IR) for all income households in the province of Cavite during the month of May 2024.
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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.
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The Headline Inflation in the Province of Cavite was stable at 2.7 percent for the month of May 2024. (see Table 1 and Figure 1).
During the month, the following commodity group showed an increase in the annual growth rate:
• Alcoholic Beverages and Tobacco, 2.7 percent
• Housing, Water, Electricity, Gas and Other Fuels, 0.9 percent
• Furnishing, Household Equipment and Routine Household Maintenance,
2.6 percent
• Transport, 3.6 percent
• Information and Communication, -0.6 percent
Meanwhile, the inflation of the following commodity groups decreased this month compared to the last month’s inflation:
• Food and Non-alcoholic Beverages, 3.4 percent
• Clothing and Footwear, 6.0 percent
• Recreation, Sport and Culture, 2.4 percent
• Restaurants and Accommodation Services, 5.5 percent
• Personal Care, and Miscellaneous Goods and Services, 1.9 percent
For commodity groups Healths (1.5 percent), Educational Services (1.7 percent), Financial Services (-4.9 percent) and were stable this month.
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For Food, the inflation still showed a decrease at 3.4 percent for the month of May 2024 compared to 4.0 percent last month (see Table 3).
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The annual growth rate of the following food groups displayed a decrease compared to last month’s inflation:
• Fish and other seafoods, -2.7 percent
• Milk, other dairy products and eggs, 0.4 percent
• Fruits and nuts, 4.4 percent
• Vegetables, tubers, plantains, cooking bananas and pulses, 4.4 percent
• Sugar, confectionery and desserts, -4.0 percent
Meanwhile, there was an increase in the inflation of the following food groups:
• Cereals and cereal products, 11.1 percent
• Meat and other parts of slaughtered land animals, 2.0 percent
• Oils and fats, -6.1 percent
• Ready-made food and other food products n.e.c., 4.3 percent
Lastly, Inflation for Rice accelerated to 17.6 percent from 16.8 percent last month while a deceleration was observed for Corn at -19.1 percent (from -19.0 percent) this May 2024.