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Release-Date
Reference-Number
2024-SR-011

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

Headline inflation in the Province of Cavite decreased to 2.7 percent for the month of April 2024. It is lower by 0.4 percent compared to last month’s inflation rate of 3.1 percent (see Table 1 and Figure 1).

The deceleration in the province’s inflation rate for the month of April 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 0.2 percent inflation with a 42.7 percent contribution to April 2024 inflation. Also contributing to the downtrend in overall inflation were the decreases in the indices of the following commodity groups:
•    Food and Non-alcoholic Beverages, 3.7 percent
•    Alcoholic Beverages and Tobacco, 2.3 percent
•    Furnishing, Household Equipment and Routine Household Maintenance, 1.5 percent 
•    Information and Communication, -0.8 percent 
•    Recreation, Sport and Culture, 2.8 percent

Meanwhile, the inflation of the following commodity groups increased this month compared to last month’s inflation:
•    Clothing and Footwear, 6.5 percent
•    Health, 1.5 percent
•    Transport, 2.7 percent

For commodity groups 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 lower increment with 4.0 percent for the month of April 2024 compared to reported 4.7 percent last month (see Table 3).

The annual growth rate of the following food groups displayed lower increment compare to last month’s inflation:
•    Meat and other parts of slaughtered land animals, -0.8 percent
•    Fish and other seafoods, -2.2 percent
•    Milk, other dairy products and eggs, 1.4 percent
•    Oils and fats, -9.4 percent
•    Fruits and nuts, 10.6 percent
•    Sugar, confectionery and desserts, -3.1 percent

Meanwhile, there were increase in the inflation of the following food groups:
•    Cereals and cereal products, 11.0 percent 
•    Vegetables, tubers, plantains, cooking bananas and pulses, 13.8 percent
•    Ready-made food and other food products n.e.c., 5.1 percent

Lastly, Inflation for Rice accelerated to 16.8 percent from 15.7 percent last month while a deceleration was observed for Corn at -19.0 percent (from -13.9 percent) this April 2024.
 

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