This report presents the Headline Inflation Rate (IR) for all income households in the province of Cavite during the month of August 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 1.6 percent for the month of August 2024, a decrease of 0.6 percent from 2.2 percent last month (see Table 1 and Figure 1).

The deceleration in the province’s inflation rate for the month of August 2024 was primarily due to the decrease in the annual growth rate in the index of the commodity group, Food and Non-alcoholic Beverages, 1.3 percent with a 26.0 percent contribution to overall August 2024 inflation. Also contributing to the downtrend in overall inflation were the decreases in the indices of the following commodity groups:
• Transport, 1.1 percent 
• Personal Care, and Miscellaneous Goods and Services, 2.1 percent
• Alcoholic Beverages and Tobacco, 1.8 percent
• Health, 0.8 percent
• Recreation, Sport and Culture, 1.9 percent

Meanwhile, the inflation rate of the following commodity groups increased this month compared to the last month’s inflation:
• Education Services, 14.1 percent
• Furnishing, Household Equipment and Routine Household Maintenance,
3.1 percent
• Housing, Water, Electricity, Gas and Other Fuels, -0.9 percent

The commodity groups Clothing and Footwear (6.0 percent); Information and Communication (-0.1 percent); Restaurant and Accommodation Services (4.3 percent); Financial Services (-4.9 percent) were stable this month.

For Food, the inflation still showed much lower movement with 1.2 percent for the month of August 2024 compared to reported 3.9 percent last July 2024 (see Table 3).

Also, a decrease in annual growth rate of the following food groups were observed compare to last month’s inflation:
• Cereals and cereal products, 4.1 percent 
• Meat and other parts of slaughtered land animals, 3.9 percent 
• Fish and other seafoods, -3.9 percent
• Fruits and nuts, 2.4 percent
• Vegetables, tubers, plantains, cooking bananas and pulses, -5.1 percent 
• Sugar, confectionery and desserts, -4.2 percent

Meanwhile, there were increase in the annual growth rate of the following food groups:
• Milk, other dairy products and eggs, 3.1 percent
• Oils and fats, -1.9 percent 
• Ready-made food and other food products n.e.c., 6.0 percent

Lastly, Inflation for Rice decelerated to 6.2 percent from 13.6 percent last month while the deflation for Corn was observed at -11.3 percent (from -13.6 percent) this August 2024.