Ilocos Region 

The inflation rate of the Ilocos Region for all income household accelerated to 2.9 percent from the recorded rate of 1.8 percent in November 2024. This brings the average inflation rate from January 
to December 2024 to 2.1 percent. In December 2023, inflation rate was posted at 2.3 percent. 

The acceleration of inflation rate in Ilocos Region in December 2024 for all income household was primarily influenced by the following commodity groups:

a.    Housing, water, electricity, gas and other fuels, 1.4 percent;
b.    Food and non-alcoholic beverages, 4.8 percent;
c.    Transport, -0.7 percent;
d.    Recreation, sport and culture, 3.4 percent; and
e.    Information and communication, 0.0 percent.

Meanwhile, lower indices were observed in the following commodity groups:

a.    Alcoholic beverages and tobacco, 3.0 percent;
b.    Clothing and footwear, 4.4 percent;
c.    Furnishings, household equipment and routine maintenance, 
3.0 percent;
d.    Health, 1.8 percent;
e.    Restaurants and accommodation services, 0.8 percent; and
f.    Personal care, and miscellaneous goods and services, 4.3 percent.

The rest of the commodity groups that were not mentioned, retained their previous month’s inflation rate or had zero percent annual growth. (Table C)

Furthermore, the following commodity groups were the top three major contributors to the November 2024 overall inflation for all income households:

a.    Food and non-alcoholic beverages, 65.4 percent share or 1.90 percentage points;
b.    Housing, water, electricity, gas and other fuels, 9.5 percent share or 0.28 percentage point; and
c.    Personal care, and miscellaneous goods and services, 7.5 percent share or 0.22 percentage point.

As shown in Table D, the food index of Ilocos Region went up to 4.8 percent in December 2024, from 3.6 percent in the previous month. In December 2023, the food index was posted at 5.7 percent. The following food groups contributed to the upward inflation trend in December 2024:

a.    Vegetables, tubers, plantains, cooking bananas and pulses (ND), 23.3 percent;
b.    Fish and other seafood (ND), 3.9 percent;
c.    Fruits and nuts (ND), 4.3 percent;
d.    Meat and other parts of slaughtered land animals (ND), 3.8 percent; and
e.    Oils and fats (ND), -0.2 percent.

On the other hand, lower inflation rates were recorded of the following food groups:

a.    Cereals and cereal products (ND), 2.6 percent;
b.    Milk, other dairy products and eggs (ND), 1.5 percent;
c.    Sugar, confectionery and desserts (ND), -2.5 percent; and
d.    Ready-made food and other food products n.e.c (ND), 7.5 percent.

Among the provinces, Ilocos Sur posted the highest inflation rate at 5.1 percent in December 2024, followed by Pangasinan at 2.8 percent. La Union and Ilocos Norte recorded inflation rates of 2.4 percent and 2.1 percent, respectively.

Compared to their respective levels in December 2023, all provinces except La Union, recorded higher inflation rates.

SGD. ATTY. SHEILA O. DE GUZMAN
Regional Director, RSSO 01