The inflation rate in Guimaras province dropped significantly to 2.5% in November 2024 from 6.3% in October, according to the latest data from the Philippine Statistics Authority (PSA).
Provincial Statistics Officer Nelida B. Losare attributed the decline primarily to slower year-on-year price increases in food and non-alcoholic beverages, which recorded a 2.4% inflation rate in November compared to 4.5% in October.
“Additionally, the annual price change for restaurants and accommodation services fell to -0.5% in November from 5.1% the previous month. Alcoholic beverages and tobacco also saw inflation slow to 3.0% from 4.1%,” Losare said.
Food groups accounted for 74.3% of the overall downtrend, while restaurants and accommodation services contributed 19.5%, and alcoholic beverages and tobacco made up 2.7%.
Losare noted that rice prices, with an inflation rate of 18.6% in November compared to 26.1% in October, significantly influenced the food group’s slowdown. Other contributors included restaurants and cafés, which saw inflation dip to -0.7% from 5.1%, and spirits and liquors, with inflation dropping to 4.6% from 7.4%.
Inflation rates also eased across five other commodity groups:
- Personal care and miscellaneous goods and services: 1.2% in November, down from 1.7% in October.
- Housing, water, electricity, gas, and other fuels: 6.6%, slightly down from 6.7%.
- Furnishings and household maintenance: -0.5%, compared to -0.3%.
- Health: 3.8%, down from 3.9%.
- Recreation, sport, and culture: 6.0%, down from 6.3%.
Transport was the only group with an accelerated inflation rate, rising to -0.9% in November from -4.0% in October. Four groups—clothing and footwear (0.3%), information and communication (3.3%), education services (0.0%), and financial services (0.0%)—maintained their previous month’s rates.
Key contributors to the November 2024 inflation rate were food and non-alcoholic beverages (47.9%, or 1.19 percentage points), housing, water, electricity, gas, and other fuels (41.5%, or 1.04 percentage points), and health (4.4%, or 0.11 percentage points).
Core inflation, excluding food and energy, fell to 1.2% in November 2024 from 1.7% in October and 4.5% in November 2023.
In the past 13 months, inflation trends across Western Visayas fluctuated, with notable declines in the latter half of 2024. Guimaras’ inflation dropped from a peak of 7.0% in May to 2.5% in November, while neighboring provinces also reported decreases: Aklan (6.4% in July to 3.1% in November), Antique (2.8%), Capiz (2.9%), Iloilo (4.4%), and Negros Occidental (3.0%).
“The inflation rate measures changes in the Consumer Price Index (CPI), which reached 132.4 in November 2024. This means a typical household in Guimaras needed PHP 1,324 to purchase goods and services worth PHP 1,000 in 2018,” Losare explained.
She also highlighted that the purchasing power of the peso (PPP) in Guimaras remained at PHP 0.76 in November 2024, down from PHP 0.77 in November 2023, reflecting a slight devaluation.
