BAGUIO CITY (PIA) – Inflation rate in the Cordillera Administrative Region for all income households accelerated to 3.3 percent in December 2024 from 2.4 percent in November 2024.
Aldrin Federico Bahit Jr. of the Philippine Statistics Authority-Cordillera reported during a virtual regional dissemination forum that the acceleration of the regional inflation in Dec. 2024 was primarily driven by the Food and Non-Alcoholic Beverages group, with an inflation rate of 5.0 percent from 2.8 percent in November 2024, which contributed 79.3 percent share to the overall inflation rate.
Notable contributors also include Transport that increased from -1.4 percent to 0.3 percent contributing 16.3 percent, and Restaurants and Accommodation Services from 2.3 percent in Nov. 2024 to 2.8 percent in Dec with 2.0 percent share to inflation uptrend, he added.
These commodity groups also recorded faster inflation rates: Personal Care, and Miscellaneous Goods and Services, 4.0 percent from 3.7 percent; Alcoholic Beverages and Tobacco, 3.2 percent from 2.6 percent; and Recreation, Sports and Culture, 1.5 percent from 1.4 percent.
Meanwhile, inflation rates in the region in Dec. accelerated in most of the provinces and Baguio City, except for Apayao, where inflation slowed down to 1.4 percent from 1.6 percent.
Abra recorded the highest inflation rate of 5.1 percent from 4.8 percent; Apayao, 1.4 percent from 0.6 percent; Baguio City, 4.0 percent from 2.8 percent; Benguet, 1.8 percent from 0.8 percent; Ifugao, 3.1 percent from 1.4 percent; Kalinga, 4.0 percent from 3.0 percent; and Mountain Province, 5.2 percent from 3.2 percent.
Bahit also said that the Purchasing Power of Peso (PPP) in the region compared to the year 2018 is 79. Baguio City had the highest PPP at 81; Benguet at 79; Abra, Apayao and Kalinga at 78; Ifugao at 76; and Mountain Province at 75. (JDP/MAWC-PIA CAR)
