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Release-Date
Reference-Number
2024-SR-018

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

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).

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.
 

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