CAMIGUIN (PIA) — The inflation rate in Camiguin increased to 3.4 percent in December 2024 from the 3 percent posted in November 2024. In December 2023, the inflation rate stood at 3.7 percent, and the province’s year-to-date inflation rate is at 3.9 percent.
In December 2024, Misamis Oriental and Misamis Occidental rose to 4.5 and 2.9 percent, respectively, up by 11.0 percentage points from their November 2024 rates of 3.4 and 1.8 percent.
Meanwhile, Bukidnon’s inflation rate decreased to 2.2 percent from the 2.6 percent posted in November 2024. On the other hand, the inflation rate in Lanao del Norte remained at 0.6 percent.
The increase in overall inflation in the province in December 2024 was driven by faster increments in the following indices: alcoholic beverages and tobacco, 6.7 percent; transport, 22.4 percent; information and communication, 1.1 percent; recreation, sport, and culture, 3.5 percent; restaurants and accommodation services, 5.9 percent; and personal care and miscellaneous goods and services, 1.9 percent.
Meanwhile, the indices of food and non-alcoholic beverages saw a slower rate of increase, at 0.6 percent; clothing and footwear, at 8 percent; furnishings, household equipment, and routine household maintenance, at 3.6 percent; and health, at 5.9 percent.
A slower rate of decline was registered in the index of housing, water, electricity, gas, and other fuels (0.4 percent) in December 2024, while education services (7 percent) and financial services (11.1 percent) maintained the same inflation rates as in November 2024.
The following indices drove the slight increase in the annual inflation rate of food in December 2024: flour, bread, and other bakery products; pasta products; fish and other seafood; milk, other dairy products, and eggs; oils and fats; fruits and nuts; vegetables, tubers, cooking bananas, and pulses; ready-made food and other food products N.E.C., 5.3 percent; and non-alcoholic beverages, 2.5 percent.
On the other hand, faster rates of declines were registered in the indices of rice, 1 percent; meat and other parts of slaughtered land animals, 6.2 percent; and sugar, confectionery, and desserts, 4.2 percent. (PSA/PIA-10/Camiguin)
