llocos Region

The inflation rate of the llocos Region in November 2024 for all income households retained its previous month annual rate of 1.8 percent. This brings the average inflation rate from January to November 2024 to 2.0 percent. In November 2023, inflation rate was posted at 2.9 percent.

The inflation rate in llocos Region in November 2024 for alt income household was primarily influenced by the following commodity groups:

a.    Alcoholic beverages and tobacco, 3.4 percent;

b.    Clothing and footwear, 4.8 percent;

c.    Health, 2.1 percent;

d.    Information and communication, -0.1 percent;

e.    Education services, 5.3 percent;

f.    Restaurants and accommodation services, 1.0 percent;

g.    Financial services, 0.0 percent; and

h.    Personal care, and miscellaneous goods and services, 4.5 percent.

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

a.    Housing, water, electricity, gas and other fuels, -1.0 percent;

b.    Furnishings, household equipment and routine household maintenance, 3.5 percent; and

c.    Recreation, sport and culture, 2.8 percent.

Food and non-alcoholic beverages, and transport recorded higher inflation rates compared to the previous month (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, 78.7 percent share or 1.42 percentage point;

b.    Personal care, and miscellaneous goods and services, 12.6 percent share or 0.23 percentage point; and

c.    Restaurants and accommodation services, 7.3 percent share or 0.13 percentage point.

As shown in Table D, the food index of llocos Region went up to 3.6 percent in November 2024, from 2.4 percent in the previous month. In November 2023, the food index was posted at 7.5 percent. The following food groups contributed to the upward inflation trend in November 2024:

a.    Vegetables, tubers, plantains, cooking bananas and pulses (ND), 1.9 percent; and

b.    Sugar, confectionery and desserts (ND), -1.2 percent.

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

a.    Cereals and cereal products (ND), 5.7 percent;

b.    Meat and other parts of slaughtered animals (ND), 3.5 percent;

c.    Milk, other dairy products and eggs (ND), 3.0 percent;

d.    Oils and fats (ND), -0.5 percent;

e.    Fruits and nuts (ND), 0.3 percent; and

f.    Ready-made food and other food products n.e.c (ND), 8.3 percent.

Among the provinces, llocos Sur posted the highest inflation rate at 4.0 percent in November 2024, followed by La Union at 1.9 percent. Pangasinan and llocos Norte recorded inflation rates of 1.5 percent and 1.4 percent, respectively.
Compared to their respective levels in November 2023, the provinces of llocos Sur and llocos Norte recorded higher inflation rates, while Pangasinan and La Union showed lower inflation rates.

Note:

CPIs and inflation rates by province and selected city are posted at the PSA website (https://openstat.psa.qov.ph/).
 

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