Inflation for the bottom 30% income households in Guimaras surged to 8.5% in July 2024, accelerating from June’s 7.6%, according to the latest data from the Philippine Statistics Authority (PSA). This marks a significant increase in the cost of living for the province’s most vulnerable population.
Provincial Statistics Officer Nelida B. Losare highlighted that the average inflation rate for these low-income households from January to July 2024 stands at 7.8%.
“The rising prices, particularly in food and non-alcoholic beverages, have heavily influenced the inflation uptick,” Losare noted. Food and non-alcoholic beverages saw a sharp increase to 12.5% in July, up from 10.9% in the previous month.
Losare also pointed out the notable contributions of other sectors to the inflation rate.
“Transport services increased to 4.7% from 2.5% in June, while alcoholic beverages and tobacco rose to 3.4% from 3.1%,” she added. The spike in food prices was largely driven by the soaring costs of cereals and cereal products, which hit 23.8% in July compared to 22.3% in June.
Meanwhile, several commodity groups registered slower inflation rates, including clothing and footwear, which dropped to 2.3% from 2.5%, and housing, water, electricity, gas, and other fuels, which fell to 0.7% from 2.2%.
“The bottom 30% income households in Guimaras are increasingly strained, with a Consumer Price Index (CPI) reaching 134.8 in July 2024. This means that what cost ₱1,000 in 2018 now requires ₱1,348, a stark increase from June’s 133.8 CPI,” Losare explained.
