Ilocos Region

The inflation rate of the Ilocos Region for the All Income Household decreased to 0.6 percent in September 2024 from 1.8 percent in August 2024. This brings the average inflation rate from January to September 2024 to 2.1 percent. In September 2023, inflation rate was posted at 5.1 percent.

The lower inflation rate in Ilocos Region in September 2024 for 
all income household was primarily influenced by the large decrease in the indices of the following commodity groups:

a.    Food and non-alcoholic beverages, -3.0 percent; and
b.    Transport, -5.0 percent;

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

a.    Alcoholic beverages and tobacco, 3.3 percent;
b.    Clothing and footwear, 4.4 percent;
c.    Housing, water, electricity, gas and other fuels, 1.9 percent;
d.    Health, 2.4 percent;
e.    Recreation, sport and culture, 3.1 percent; and
f.    Personal care, and miscellaneous goods and services, 4.0 percent.

Furnishings, household equipment and routine household maintenance; 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)

On the other hand, the following commodity groups were the top three contributors to the September 2024 overall inflation for the all income households:

a.    Housing, water, electricity, gas and other fuels, 56.6 percent share or 0.34 percentage point;
b.    Personal care, and miscellaneous goods and services,  30.5 percent share or 0.18 percentage point; and
c.    Restaurants and accommodation services, 20.0 percent share or 0.12 percentage point.

As shown in Table D, the food index of Ilocos Region went down 
to -0.7 percent in September 2024, from 2.7 percent in the previous month. In September 2023, the food index was posted at 13.2 percent. Furthermore, the following food groups contributed to the downward inflation trend in September 2024:

a.    Cereals and cereal products (ND), 3.2 percent;
b.    Fish and other seafood (ND), 0.2 percent;
c.    Milk, other dairy products and eggs (ND), 2.7 percent; and 
d.    Vegetables, tubers, plantains, cooking bananas and pulses (ND), -28.8 percent.

On the other hand, increased indices of the following food groups were observed:

a.    Meat and other parts of slaughtered land animals (ND), 3.1 percent;
b.    Oils and fats (ND), 0.1 percent;
c.    Fruits and nuts (ND), 7.5 percent;
d.    Sugar, confectionery and desserts (ND), -3.9 percent; and
e.    Ready-made food and other food products n.e.c. (ND), 8.6 percent.
 

Provinces

Among the provinces, La Union posted the highest inflation rate at 1.3 percent in September 2024, followed by Pangasinan at 0.8 percent. Ilocos Sur and Ilocos Norte recorded inflation rates of 0.3 percent and -1.2 percent, respectively.

Compared to their respective levels in September 2023, all provinces recorded lower inflation rates.
 

SGD. CAMILLE CARLA U. BELTRAN
Chief Administrative Officer
(Officer-In-Charge)
Per SO No. RSSO I-2401-0532
Dated: 07 October 2024

For:

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