Figure 1. Inflation Rates, Nueva Vizcaya, All Items

(2018=100)

The year-on-year headline inflation rate in Nueva Vizcaya decelerated to 2.2 percent in March 2025 from 2.7 percent in February 2025. Also it decreases by 1.2 percent from 3.4 percent inflation rate in March 2024.

The average inflation rate of Nueva Vizcaya for the calendar year 2025 (January–March) stood at 2.7 percent.

Table 1. Year-on-year Changes of the Consumer Price Index in Percent 

in Nueva Vizcaya by Commodity Group

March 2024, February 2025 and March 2025

(2018=100)

The main drivers in the downward trend in inflation for all income households in March 2025 were as follows: (Table 1)

•      Food and non-alcoholic beverages at 4.7 percent;

•      Restaurants and Accommodation Services, at 4.2 percent; and

•      Transport, at –2.4 percent

Additionally, four (4) commodity groups also showed a downward trend in inflation rate for February 2025, as follows:

1.       Alcoholic Beverages and Tobacco at 2.0 percent; 

2.      Clothing and Footwear, at 2.2 percent;

3.       Housing, Water, Electricity, Gas and Other Fuels at -2.1 percent

4.       Furnishings, Household Equipment and Routine Household Maintenance, at 1.6 percent;

On the contrary, the following two (2) commodity groups recorded increasing trend inflation rates in the year-on-year increase of the index:

1.       Recreation, Sport and Culture, at 4.0 percent; and

2.       Personal Care, and Miscellaneous Goods and Services, at 3.0 percent

Meanwhile, the last four (4) commodity groups either maintained the same inflation rates as the preceding month or registered zero percent annual rates:

1.       Health, at 3.0 percent;

2.       Information and Communication, at 0.1 percent;

3.       Education Services, at 0 percent; and

    d. Financial Services, at 0 percent

Table 2. Consumer Price Index for All Income Households in Nueva Vizcaya 

March 2024, February 2025 and March 2025

(2018=100)

In the food index, the province's inflation rate in March 2025 decreased by 0.5 percent from 5.2 percent in the previous month and 1.6 percent from 6.3 percent in March 2024. (Table 2)

Main Drivers of the Downward Trend in the inflation rate on the Food Index were the following:

1.       Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals, 

     at 2.4 percent;

b. Meat and other parts of slaughtered land animals, at 11.4 percent; and

     c. Vegetables, Tubers, Cooking Bananas, and Pulses, at 16.3 percent

Contrary to that, six (6) food groups had declining trend inflation rates:

1.       Fish and Other Seafood, at 4.2 percent;

2.       Milk, other dairy products, and eggs, at 4.7 percent;

3.       Oils and Fats, at 5.6 percent;

4.       Fruits and Nuts, at 25.4 percent;

5.       Sugar, confectionery, and desserts, at 4.1 percent; and

              f.  Ready-made food and other food products at 8.1 percent

Meanwhile, the other two (2) food groups showed a negative rate:

1.       Rice, at -10.5 percent; and

    b. Corn, at -2.9 percent

Table 3. Year-on-year Rates in Nueva Vizcaya

All Items in Percent

January 2020 – March 2025

 (2018=100)

Relative to the trend of the inflation rate during March for the years 2020 to 2025, the province's peak inflation rate occurred in 2021 at 7.7 percent, followed in 2023 at 7.4 percent, while the lowest inflation rate was recorded in this year 2025 at 2.2 percent. (Table 3)

DEFINITIONS AND CONCEPTS

Price

Is the amount or value paid in exchange for the commodity or a service rendered.

Retail Consumer Price

refers to the price at which a commodity is sold in small quantities for consumption.

Market Basket

a term used to refer to a sample of goods and services that are commonly purchased and bought by an average Filipino household.

Consumer Price lndex (CPl)

it is an indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by an average Filipino household. lt shows how much on the average, prices of goods and services have increased or decreased from a particular reference period known as base year.

lnflation Rate

is an indicator derived from the CPl. lt refers to the annual rate of change or the year-on-year change of the CPI expressed in percent. lnflation is interpreted in terms of the declining purchasing power of money.

Weight

a value attached to a commodity or group of commodities depending on the magnitude of its contribution to the index.

Base Period

a reference date at which the index is equal to 100. Base year is 2018.

lndex Methodology

a Laspeyre's formula: fixed base year and weights.

Purchasing Power of the Peso (PPP)

the measure of how much the peso in the base period is worth in the current period.

Percentage Change

is a simple mathematical concept that represents the degree of change over time. lt is used for many purposes in finance, often to represent the price change of a security.

Headline lnflation

measures changes in the cost of living based on movements in the prices of a specified basket of major commodities. lt refers to the annual rate of change or the year-on-year change in the Consumer Price lndex (CPl).

CHOLLY L. BAYON

Chief Statistical Specialist