Table 1 Year-on Year Inflation Rates.  All Items in Percent
(2018=100)
 

   Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index 
Philippine Statistics Authority

The Batangas headline inflation or overall inflation increased to 4.7 percent in March 2024 from 3.9 percent in February 2024.  This brings the provincial average inflation from January to March 2024 at 3.8 percent.  In March 2023, inflation rate was higher at 7.8 percent (Table 1, and Figure 1)

On the other hand, Region IV-A CALABARZON also increased at 3.7 percent in March 2024 from 3.3 percent in February 2024.  In CALABARZON, Batangas placed second to Rizal with 5.5 percent inflation rate in March 2024. 

Moreover, Philippines increased further to 3.7 percent in March 2024 from 3.4 percent in the previous month. This brings the national average inflation at 3.3 percent.  (Table 1)

Figure 1. Headline Inflation Rates in Batangas, All Items 
(2018=100)

Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index 
Philippine Statistics Authority

The uptrend in the overall inflation in March 2024 was primarily influenced by the higher year-on-year increase in the heavily weighted food and non-alcoholic beverages at 5.3 percent during the month from 2.0 percent in the previous month. Restaurants and Accommodation Services contributed to the uptrend as it recorded a 13.3 percent during the month and Education Services at 10.6 percent. Moreover, higher inflation rate were also noted in the indices of Transport at 3.0 percent  and housing, water, electricity, gas and other fuels at (0.1) percent during the month from their respective inflation rates of 2.4 percent and (0.3) in the previous month. 

In contrast, the following commodity groups registered lower inflation rates during the month:
a. Furnishings, household equipment and routine household maintenance,  5.8 percent from 6.3 percent
b. Personal Care and miscellaneous goods and services at 3.2 percent from 3.8 percent
c. Clothing and Footwear at 4.8 from 5.6 percent
d. Alcoholic Beverages and Tobacco at 6.4 percent from 7.1 percent
e. Health at 3.0 percent from 4.2 percent
f. Recreation, Sport and Culture, 4.6 percent from 5.7 percent
g. Information and Communication, 0.8 percent from 1.0 percent 

Meanwhile, commodity group Financial Services retained the inflation rate at 0.0 percent during the month.

The top three commodity groups contributing to the March overall inflation were the following:

a. Food and non-alcoholic beverages, 36.1 percent share or 1.7 percentage points 
b. Restaurants and Accommodation Services, 34.3 percent share or 1.61 percentage points
c. Education services, 6.5 percent share or 0.30 percentage points
 

Table 2. Provincial Year-on-Year Inflation Rates by Commodity Group
March 2023, February 2024 and March 2024
 

Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index 
Philippine Statistics Authority

Food inflation in Batangas rose to 5.7 percent in March 2024 from 1.9 percent in the previous month. In February 2023, food inflation was higher at 8.9 percent. (Table 3)

The acceleration of food inflation in March 2024 was mainly brought about by the higher year-on-year increase in rice at 18.8 percent in March 2024 from 17.0 percent annual decline in the previous month. 
In addition, meat and other parts of slaughtered land animals index recorded at 4.0  percent annual increment during the month from an annual decline of 0.7 percent in February 2024. Fish and seafood, vegetables, tubers, plantains, cooking bananas and pulse and oils and fats, also contributed to the upward trend of food inflation in Batangas. It registered an annual increment of 2.0 percent, 3.0 percent and (14.9) percent  during the month from (2.5) percent, (24.2) percent and (16.0) percent in the previous month, respectively.  

On the contrary, lower annual growth rates during the month were observed in the indices of the following food groups:

a. Milk, other dairy products and eggs, 3.1 percent from 7.2 percent
b. Ready-made food and other food products, 4.2 percent from 6.3 percent
c. Sugar, confectionery and desserts, (8.4) percent from (5.4) percent   
d. Fruits and nuts , (8.1) percent  from (3.3) percent
 

Food inflation shared 35.6 percent or 1.67 percentage points to the overall inflation in March 2024. The food groups with the highest food inflation during the month were the following:

a .Cereals and cereal products, which includes rice, corn, flour, bread and other bakery products , pasta products and other cereals at 29.8 percent or 1.40 percentage points
b. Meat and other parts of slaughtered land animals, 4.9 percent or 0.23 percentage points
c. Fish and other seafood, 1.6 percent or 0.07 percentage points

Table 3. Provincial Year-on-Year Inflation Rates of Selected Food Items in Percent in Batangas: March 2023, February 2024 and March 2024
 

Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index 
Philippine Statistics Authority
 

Table 4. Provincial Year-on-Year Inflation Rates in Batangas : 
January 2019 to December 2024
In Percent
(2018=100)

 

Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index 
Philippine Statistics Authority