Food price movement slows

as inflation drops to 1.6 %

TAGBILARAN CITY, Bohol, Oct 19 (PIA)—Food inflation in Bohol eased to 1.8 percent in September 2024 from 3.7 percent in August this year, as headline inflation in Bohol continues to drop for the third consecutive month, according to the Philippine Statistics Authority (PSA).

In its latest data dissemination on the monthly inflation tacking here, PSA through chief statistician Jessamyne Anne ALcazaren bared that from 2.1 percent last month, headline inflation in Bohol still slid down to 1.6 percent.

This is already a feat considering that the inflation rate in September of last year was much higer at 6.4 percent.

PSA credited the slow movement of prices in September to slower annual increment in the indices of food and non-alcoholic beverages, transport and in furnishings, household equipment and routine household maintenance.

From 3.5 percent in August, price index of food and non-alcoholic beverages crawled to 1.7 percent, while transport recorded 1 3.5 percent to 1.1 percent drop in August.

On the other hand, from 4.5 percent, household equipment and routine household maintenance’s 4.5 percent showed further to 2.0 in September 2024.

As to the PSA, as food and non-alcoholic beverages constitute 44.1 percent share, housing, water and electricity, gas and ither fuels with its 31.8 percent and education services 14.9 percent share contributed largely to the September 2024 headline inflation characteristics.

With this, food inflation in Bohol eased to 1.8 percent in September as against the 3.7 percent in August, Alcazaren points out.

This, according to the female chief statistician is brought about by a slower inflation rate of rice at 2.6 percent from 11.2 percent in August.

Vegetables, tubers, plantains, cooking bananas and pulses recorded a year-on-year decline of 7.1 percent from 3.3 percent annual increase in August 2024.

On the other hand, ready-made food and other food products enjoyed a slower price movement for 7.0 percent from 8.1 percent in 2024.

The deceleration of food inflation in September 2024 was primarily brought about by slower inflation rate of rice at 2.6 percent from 11.2 percent in August, PSA bared in its published release.

As fiood shares 42.3 percent in the over-all inflation, rice which recorded a 77.2 percent share; meat and other parts of slaughtered animals with 35.6 percent and fruits and nuts keeping a 27.3 percent contributed to the food inflation here, PSA noted. (rahc/PIA-7/Bohol)

FOR THE THIRD CONSECUTIVE MONTH. Inflation in Bohol continues to slow down for the third consecutive month as prices tend to behave rather well, according to PSA Alcazaren. Food inflation also slowed to 1.8%. (PIABohol)