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 increased to 3.4 percent in October 2024 from 2.5 percent in September 2024. In October 2023, inflation rate was posted at 5.3 percent. (Figure 1, and Tables A, B, 5, 6, and 12)

1.1 Main Drivers to the Upward Trend of the Overall Inflation

The main driver to the upward trend of the overall inflation for this income group in October 2024 was the higher year-on-year growth rate in the heavily-weighted food and non-alcoholic beverages at 3.9 percent from 2.1 percent in the previous month. Also contributing to the downtrend is transport, which registered slower annual decline of 1.0 percent in October 2024 from 1.8 percent annual decrease in the previous month.

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

          a. Alcoholic beverages and tobacco, 3.2 percent from 3.5 percent;
          b. Clothing and footwear, 2.5 percent from 2.6 percent;
          c. Housing, water, electricity, gas and other fuels, 3.6 percent from 4.1 percent;
          d. Furnishings, household equipment and routine household maintenance, 2.5 percent from 2.8 percent; 
          e. Health, 2.0 percent from 2.1 percent;
          f.  Information and communication, 0.4 percent from 0.7 percent;
          g. Recreation, sport and culture, 4.9 percent from 5.3 percent;
          h. Restaurants and accommodation services, 3.6 percent from 4.0 percent; and 
          i.  Personal care, and miscellaneous goods and services, 3.0 percent from 3.2 percent.

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 October 2024 overall inflation for the bottom 30% income households:

          a. Food and non-alcoholic beverages with 64.0 percent share or 2.2 percentage points;  
          b. Housing, water, electricity, gas and other fuels with 16.7 percent share or 0.6 percentage point; and
          c. Restaurants and accommodation services with 8.1 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 faster pace of 3.9 percent in October 2024 from 2.1 percent in the previous month. In October 2023, its annual increase was observed at 8.0 percent. (Table 9)

2.1 Main Drivers to the Upward Trend of the Food Inflation

The uptrend in the food inflation was mainly due to the faster annual growth rate in rice index at 10.2 percent during the month from 5.9 percent in September 2024. In addition, slower annual decreases were noted in the indices of vegetables, tubers, plantains, cooking bananas and pulses at 6.5 percent during the month from an 11.1 percent annual decrease in September 2024, and fish and other seafood at 0.9 percent year-on-year decrease from a 1.8 percent annual decline in September 2024.

In addition, higher inflation rates during the month were noted in the indices of corn at 9.2 percent from 8.5 percent in the previous month, and meat and other parts of slaughtered land animals at 3.6 percent from 3.5 percent annual rate in September 2024.

Moreover, annual increase was noted in the index of oils and fats at 0.5 percent from an annual decline of 1.2 percent in the previous month, while slower annual decline was observed in sugar, confectionery and desserts index at 4.9 percent in October 2024 from a 5.5 percent annual decrease in the previous month.


In contrast, slower annual increases were recorded in the indices of the following food groups during the month:

          a. Flour, bread and other bakery products, pasta products, and other cereals, 2.4 percent from 2.6 percent;
          b. Milk, other dairy products and eggs, 4.6 percent from 4.7 percent;
          c. Fruits and nuts, 10.1 percent from 10.3 percent; and
          d. Ready-made food and other food products not elsewhere classified, 5.5 percent from 6.1 percent. (Tables 7 and 13) 

2.2 Main Contributors to the Food Inflation

Food inflation contributed 61.6 percent or 2.1 percentage points to the October 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 89.0 percent share or 3.5 percentage points;
          b. Meat and other parts of slaughtered land animals with 9.6 percent share or 0.4 percentage point; and
          c. Fruits and nuts with 7.6 percent share or 0.3 percentage point.
                   
 

B. National Capital Region (NCR)

Inflation for the bottom 30% income households in NCR eased to 2.1 percent in October 2024 from 2.4 percent in September 2024. In October 2023, inflation in the area was observed at 5.7 percent. (Tables A, 5, 6, and 13)

The deceleration of the inflation in the area was mainly brought about by the slower annual increase in the housing, water, electricity, gas and other fuels index at 1.9 percent in October 2024 from 3.6 percent in the previous month. Also contributing to the downtrend was transport with a 0.8 percent annual decline during the month from an annual increase of 1.7 percent in September 2024.

In addition, slower annual increments were observed in the indices of the following commodity groups during the month:

          a. Health, 1.4 percent from 1.6 percent;
          b. Information and communication, 0.2 percent from 0.3 percent;
          c. Recreation, sport and culture, 3.7 percent from 4.1 percent; and
          d. Restaurants and accommodation services, 2.3 percent from 2.6 percent.

On the other hand, faster annual increases were noted in the indices of food and non-alcoholic beverages at 2.6 percent in October 2024 from 1.9 percent in the previous month, and clothing and footwear with a year-on-year increase of 2.1 percent in October 2024 from 2.0 percent in the previous month.

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 accelerated to 3.3 percent in October 2024 from 2.5 percent in September 2024. In October 2023, inflation for this income group was registered at 5.3 percent. (Tables A, 5, and 14)

The acceleration of inflation in the area was mainly influenced by the higher year-on-year increment in the heavily-weighted food and non-alcoholic beverages at 3.9 percent in October 2024 from 2.1 percent in the previous month. Also contributing to the uptrend of inflation in the area was the slower annual decline of transport at 1.0 percent in October 2024 from 1.9 percent annual decrease in the previous month.

In contrast, slower annual increases were observed in the indices of the following commodity groups during the month:

          a. Alcoholic beverages and tobacco, 3.3 percent from 3.5 percent;
          b. Clothing and footwear, 2.5 percent from 2.6 percent;
          c. Housing, water, electricity, gas and other fuels, 3.7 percent from 4.1 percent;
          d. Furnishings, household equipment and routine household maintenance, 2.5 percent from 2.8 percent;
          e. Health, 2.1 percent from 2.2 percent;
          f.  Information and communication, 0.4 percent from 0.8 percent;
          g. Recreation, sport and culture, 5.0 percent from 5.3 percent;
          h. Restaurants and accommodation services, 3.7 percent from 4.1 percent; and
          i.  Personal care, and miscellaneous goods and services, 3.0 percent from 3.2 percent.

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

In October 2024, 14 regions outside NCR recorded higher inflation rates for the bottom 30% income households relative to their respective inflation rates in September 2024. The highest inflation rate was recorded in Region VI (Western Visayas) at 5.0 percent, while the lowest inflation rate was observed in Bangsamoro Autonomous Region in Muslim Mindanao at 1.6 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                    
 

See more at the Consumer Price Index for Bottom 30% Income Households main page.