Table A. Year-on-Year Inflation Rates
for the Bottom 30% Income Households, All Items
In Percent
(2018=100)

A. Philippines                     

1. Overall Inflation

The country’s inflation rate for the bottom 30% income households slowed down to 2.9 percent in November 2024 from 3.4 percent in October 2024. This brings the average inflation from January to November 2024 for this income group to 4.3 percent. In November 2023, the inflation rate was posted at 4.9 percent. (Figure 1, and Tables A, B, 5, 6, and 12)

1.1 Main Drivers to the Downward Trend of the Overall Inflation

The downtrend in the overall inflation in November 2024 was primarily brought about by the lower year-on-year growth rate in the heavily-weighted food and non-alcoholic beverages index at 3.3 percent in November 2024 from 3.9 percent in the previous month. Likewise, the index of housing, water, electricity, gas and other fuels recorded a lower annual increase of 2.4 percent during the month from 3.6 percent in October 2024.

Moreover, lower annual rates were noted in the indices of recreation, sport and culture at 4.6 percent in November 2024 from 4.9 percent in October 2024, and health at 1.9 percent during the month from 2.0 percent annual rate in October 2024.

In contrast, higher annual growth rates were noted in the indices of the following commodity groups during the month:

          a. Alcoholic beverages and tobacco, 3.4 percent from 3.2 percent; 
          b. Furnishings, household equipment and routine household maintenance, 2.6 percent from 2.5 percent; 
          c. Information and communication, 0.5 percent from 0.4 percent; and
          d. Personal care, and miscellaneous goods and services, 3.1 percent from 3.0 percent.

Moreover, slower annual decline was observed in transport index at 0.6_percent in November 2024 from 1.0 percent year-on-year decrease in the previous month. The indices of the rest of the commodity groups retained their respective previous month’s annual rates. (Tables 5 and 6)

1.2 Main Contributor to the Overall Inflation

The following commodity groups were the top three contributors to the November 2024 overall inflation for the bottom 30% income households:

          a. Food and non-alcoholic beverages with 63.3 percent share or 1.8 percentage points;   
          b. Housing, water, electricity, gas and other fuels with 13.0 percent share or 0.4 percentage point; and
          c. Restaurants and accommodation services with 9.4 percent share or 0.3 percentage point.  

2. Food Inflation

Food inflation for the bottom 30% income households at the national level moved at a slower pace of 3.4 percent in November 2024 from 3.9 percent in the previous month. In November 2023, its annual increase was observed at 7.4 percent. (Table 9) 

2.1 Main Drivers to the Downward Trend of the Food Inflation

The deceleration of food inflation was mainly due to the slower annual growth rate in the rice index at 5.4 percent during the month from 10.2 percent in October 2024.

Moreover, lower inflation rates during the month were noted in the following food groups:

          a. Corn, 6.2 percent from 9.2 percent;
          b. Flour, bread and other bakery products, pasta products, and other cereals, 2.2 percent from 2.4 percent;
          c. Milk, other dairy products and eggs, 4.0 percent from 4.6 percent;
          d. Fruits and nuts, 6.7 percent from 10.1 percent; and
          e. Ready-made food and other food products not elsewhere classified, 4.9 percent from 5.5 percent.

In contrast, higher annual increases were noted in the indices of meat and other parts of slaughtered land animals at 3.7 percent in November 2024 from 3.6 percent in the previous month, and oils and fats at 1.4 percent during the month from 0.5 percent annual growth rate in October 2024.

In addition, slower annual decreases were observed in the indices of fish and other seafood at 0.2 percent in November 2024 from a 0.9 percent annual decline in the previous month, and sugar, confectionery and desserts at 4.1 percent annual decrease during the month from 4.9 percent annual decrement in October 2024.

The vegetables, tubers, plantains, cooking bananas and pulses index recorded an annual increment of 3.7 percent during the month from an annual decline of 6.5 percent in October 2024. (Tables 7 and 11)  

2.2 Main Contributors to the Food Inflation

Food inflation contributed 60.2 percent or 1.8 percentage points to the November 2024 overall inflation for this particular income group.

Among the food groups, the main contributors to the 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, with 63.4 percent share or 2.2 percentage points; 
          b. Meat and other parts of slaughtered land animals with 12.7 percent share or 0.4 percentage point; and
          c. Vegetables, tubers, plantains, cooking bananas and pulses with 8.3 percent share or 0.3 percentage point.
                    
 

B. National Capital Region (NCR)

Inflation rate for the bottom 30% income households in NCR increased to 3.0 percent in November 2024 from 2.1 percent in October 2024. In November 2023, inflation in the area was recorded at 4.9 percent. (Tables A, 5, 6, and 13)

The uptrend of the inflation in the area was mainly brought about by the faster annual increase in the heavily-weighted food and non-alcoholic beverages index at 4.2 percent in November 2024 from 2.6 percent in the previous month.

In addition, faster annual increases were noted in the indices of housing, water, electricity, gas and other fuels at 2.4 percent in November 2024 from 1.9 percent in the previous month, and restaurants and accommodation services with a year-on-year increase of 2.5 percent in November 2024 from 2.3 percent in the previous month.

Moreover, the transport index recorded a slower annual decline of 0.7 percent in November 2024 from an annual decrement of 0.8 percent in the previous month.

On the other hand, slower annual increments were observed in the indices of the following commodity groups during the month:

          a. Alcoholic beverages and tobacco, 2.3 percent from 2.5 percent;
          b. Clothing and footwear, 1.9 percent from 2.1 percent;
          c. Furnishings, household equipment and routine household maintenance, 1.8 percent from 1.9 percent;
          d. Recreation, sport and culture, 3.6 percent from 3.7 percent; and
          e. Personal care, and miscellaneous goods and services, 2.6 percent from 2.7 percent.

The indices of the rest of the commodity groups remained at their respective previous month’s annual rates. (Tables 5 and 6) 

C. Areas Outside NCR (AONCR)

Following the trend at the national level, inflation for the bottom 30% income households in AONCR decelerated to 2.9 percent in November 2024 from 3.3 percent in October 2024. In November 2023, inflation for this income group was registered at 4.9 percent. (Tables A, 5, and 14)

The deceleration of inflation in the area was mainly influenced by the lower year-on-year growth rate in the heavily-weighted food and non-alcoholic beverages index at 3.3 percent in November 2024 from 3.9 percent in October 2024. Also contributing to the downtrend of inflation was the lower annual increase in the housing, water, electricity, gas and other fuels index at 2.4 percent in November 2024 from 3.7 percent in the previous month.

In addition, slower annual increases were observed in the indices of health at 2.0 percent from 2.1 percent in October 2024, and recreation, sport and culture at 4.7 percent in November 2024 from 5.0 percent in the previous month.

Meanwhile, faster annual increases were observed in the indices of the following commodity groups during the month:

          a. Alcoholic beverages and tobacco, 3.5 percent from 3.3 percent;
          b. Furnishings, household equipment and routine household maintenance, 2.6 percent from 2.5 percent;
          c. Information and communication, 0.5 percent from 0.4 percent; and
          d. Personal care, and miscellaneous goods and services, 3.1 percent from 3.0 percent. 

Moreover, transport index recorded a slower annual decrement of 0.6 percent during the month from a 1.0 percent year-on-year decrease in October 2024. The indices of the rest of the commodity groups retained their respective previous month’s annual rates. (Tables 5 and 6)

In November 2024, 12 regions outside NCR recorded lower inflation rates for the bottom 30% income households relative to their respective inflation rates in October 2024. The lowest inflation rate was recorded in Bangsamoro Autonomous Region in Muslim Mindanao at 1.6 percent, while the highest inflation rate was observed in Region II (Cagayan Valley) at 3.9 percent. (Table 6)

Note: CPIs and inflation rates for the bottom 30% income households by region are posted at the PSA OpenSTAT portal at https://openstat.psa.gov.ph/PXWeb/pxweb/en/DB/DB__2M__PI__BIH__2018/?tablelist=true.

CLAIRE DENNIS S. MAPA, PhD                  
Undersecretary                     
National Statistician and Civil Registrar General                     
 

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