SAN PABLO CITY, Laguna–The headline inflation in Laguna increased to 3.9 percent in July 2024 from 2.2 percent in June 2024. This brings the provincial average inflation from January to July 2024 to 2.7 percent.
In July 2023, inflation rate was lower at 2.5 percent. It was primarily due to increase on inflation recorded in the indices of Food and Non-Alcoholic beverages at 4.5 percent from 3.9 percent; Housing, Water, Electricity, Gas, and Other Fuels at 3.0 percent from -3.5 percent; Furnishing, Household Equipment and Routine Household at 3.0 percent from 2.9 percent; Transport at 6.2 percent from 5.7 percent; Recreation, Sport and Culture at 2.7 percent from 2.6 percent; and Education Services at -0.1 percent from -3.3 percent.
Meanwhile, decrease in inflation was observed in the indices of Alcoholic Beverages and Tobacco at 1.7 percent from 1.9 percent and Personal Care, and Miscellaneous Goods and Services at 3.7 percent from 3.8 percent. The rest of the commodity groups retained their previous month’s inflation rates.
The top three commodity groups contributing to the July 2024 overall inflation were Food and Non-alcoholic beverages with 1.16 percentage point; Transport with 0.51 percentage point; and Restaurants and Accommodation Services with 0.33 percentage points.
Food inflation shared 40.7 percent or 1.10 percentage points to the overall inflation in July 2024. The top three food groups in terms of contribution to the food inflation during the month were Cereals and Cereal Products with 3.8 percentage points; Vegetables, Tubers, Plantains, Cooking Bananas and Pulses with 0.52 percentage point; and Fruits and Nuts with 0.32 percentage point.
