Ilocos Region

The inflation rate of the Ilocos Region increased to 2.8 percent in June 2024 from 2.3 percent in May 2024. This brings the average inflation rate from January to June 2024 to 2.2 percent. In June 2023, inflation rate was posted at 4.3 percent.

The higher inflation rate in Ilocos Region in June 2024 was primarily influenced by the increase in the indices of the following commodity groups:

a.    Housing, water, electricity, gas and other fuels, -3.2 percent from -6.1 percent;
b.    Health, 2.3 percent from 2.2 percent;
c.    Transport, 2.3 percent from 2.1 percent; and
d.    Recreation, sport and culture, 1.5 percent from 1.1 percent.

On the other hand, lower indices of the following commodity groups were observed:

a.    Food and non-alcoholic beverages, 6.5 percent 6.6 percent;
b.    Alcoholic beverages and tobacco, 3.4 percent from 4.4 percent;
c.    Clothing and footwear, 3.9 percent from 4.0 percent;
d.    Furnishings, household equipment and routine household maintenance, 3.2 percent and 3.7 percent; and
e.    Personal care, and miscellaneous goods and services, 3.2 percent from 3.4 percent.

Meanwhile, information and communication, education services, restaurants and accommodation services, and financial services retained their previous month’s inflation rates or had zero percent annual growth. (Table C)
 

As shown in Table D, the food index of Ilocos Region slowed down to 6.7 percent in June 2024, from 6.8 percent in the previous month. In June 2023, the food index was posted at 7.3 percent. Furthermore, the following food groups contributed to the inflation trend in June 2024:

a.     Cereals and cereal products (ND), 19.7 percent;
b.    Meat and other parts of slaughtered land animals (ND), 2.2 percent; and
c.    Fruits and nuts (ND), 5.1 percent.

On the other hand, the following higher indices on the following food groups were observed:

a.    Fish and other seafood (ND), -1.1 percent;
b.    Milk, other dairy products and eggs (ND), -0.2 percent;
c.    Vegetables, tubers, plantains, cooking bananas and pulses (ND), -1.9 percent;
d.    Sugar, confectionery and desserts (ND), -4.0 percent; and
e.    Ready-made food and other food products n.e.c. (ND), 8.6 percent.

Meanwhile, oils and fats retained its index from its previous month’s inflation rate.

Among the provinces, La Union posted the highest inflation rate at 4.2 percent in June 2024, followed by Pangasinan at 2.7 percent. Ilocos Norte and Ilocos Sur recorded inflation rates of 2.3 percent and 2.2 percent, respectively.

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

SGD. ATTY. SHEILA O. DE GUZMAN
Regional Director
Regional Statistical Services Office 01