Food inflation spikes to 4.2% in March 2020

The year-on-year inflation of food commodity groups in Guimaras spiked to 4.2 percent in March 2020.

This is due to faster movement in the Consumer Price Indices (CPI) of the said commodity group items in the first three months of 2020, from 130.9 in January to 133.2 in March 2020.

The CPI movement pushed up the province’s inflation to 4.4 percent in March, faster than the 3.8 percent inflation a month ago, based on data from the Philippine Statistics Authority.

Among the Food Subgroup Commodities, Fruits and Vegetables recorded faster inflation of 16.2 and 14.6 percent in March, respectively, followed with a large gap by Corn (8.3%) and Other cereals, flour, Cereal Preparation, bread, pasta and other bakery products at 7.8 percent.

Meat and Sugar, Jam, Honey, Chocolate and Confectionery are two of the 12 food subgroups which exhibited slower price movements at -0.5 percent and -2.8 percent inflation rate, respectively.

 

Tab 1. Comparative Year on Year Inflation Rates by Commodity Group, Guimaras: Jan-Mar 2020

The most basic food subgroup items displayed the following rate of change: Rice (1.2%), Bread and cereals (2.4%), fish (4.8%) and oils and fats (4.3%) in March 2020.

By major commodity group items, Alcoholic Beverages and Tobacco posted the fastest inflation rates at 24.1 percent, followed by Housing, Water, Electricity, Gas & Other Fuels with 6.6 percent, which doubled its 3.3 level a month ago.

Six out of eleven commodity groups surpassed their February inflation level while two commodity groups (Communication & Education) maintained their levels in March and two managed to slowdown, these were: Transport from 41. to -3.3 percent and Restaurant & Misc. Goods and Services from 3.0 to 2.8 percent.