The Philippine Statistics Authority (PSA) reported that inflation for the bottom 30 percent income households in Romblon decelerated to 1.3 percent in September 2024, a significant drop from 11.7 percent during the same period last year.
Chief Statistical Specialist, Engr. Johnny Solis, noted that since March 2024, the province has experienced consecutive months of slowing inflation.
However, despite this slowdown, Solis cautioned that it does not necessarily mean prices in the market are decreasing. The inflation rate, which remains positive, signifies continued price increases—just at a slower pace—rather than deflation, which would reflect a drop in overall prices.
The easing of inflation was most evident in the prices of food and non-alcoholic beverages, which recorded a 0.6 percent inflation rate in September. Transportation costs showed deflation, decreasing by -3.7 percent, while inflation in Housing, Water, Electricity, Gas, and Other Fuels stood at 4.4 percent. Additionally, Furnishings, Household Equipment, and Routine Household Maintenance registered a deflation of -2.0 percent.
Solis also emphasized that the lower inflation rate experienced by low-income households mirrored the overall inflation trend in Romblon.
The province’s inflation rate for September 2024 was recorded at 1.0 percent—the lowest since November 2019. The deceleration in the prices of rice, meat, and fish was among the main contributors to this trend.
The consumer price index (CPI) in Romblon reached 131.9 in September 2024, meaning that goods that could be purchased for ₱100 in 2018 now cost ₱131.9.
This demonstrates a continued rise in the cost of living, despite the slower inflation.
