Table A. Year-on-Year Inflation Rates, All Items
In Percent
(2018=100)

A.    Zamboanga Peninsula

1.    Headline Inflation

Inflation rates in Zamboanga Peninsula increased to 2.7 percent in October 2024 from 2.0 percent in September 2024. This brings the region’s average inflation from January to October 2024 at 3.6 percent. Inflation rate was higher in October 2023 at 4.4 percent. (Table A and Figure 1)

1.1 Main Drivers to the Downward Trend for the Headline Inflation:

The upward trend in the region’s inflation in October 2024 was primarily influenced by the higher increase in the indices of Food and Non-alcoholic Beverages at 2.2 percent from 0.7 percent, Transport at (3.1) percent from (4.5) percent in the previous month and Restaurants and Accommodation Services at 5.4 percent from 5.2 percent in the previous month.

Also contributing to the overall inflation in Zamboanga Peninsula during the month of October was the higher increments in the index of Alcoholic Beverages and Tobacco at 7.3 percent from 6.9 percent in the previous month.

In contrast, lower inflation rates during the month were recorded in the following commodity groups:

1)    Clothing and footwear, 1.4 percent from 1.5 percent;
2)    Housing, water, electricity, gas and other fuels, 5.3 percent from 6.1 percent;
3)    Furnishings, household equipment, and routine household maintenance, 3.1 percent from 3.4 percent;
4)    Health, 3.7 percent from 4.0 percent;
5)    Information and communication, (0.9) percent from (0.4) percent;
6)    Recreation, sport and culture, 5.9 percent 6.0 percent; and
7)    Personal Care, and Miscellaneous Goods and Services, 2.7 percent from 3.0 percent.
Meanwhile, the following commodity groups retained their previous month’s inflation rate:

1)    Financial Services, (0.4) percent; and
2)    Education Services, 4.8 percent.

2.2 Main Contributors to the Inflation Rate for the Headline Inflation:

The following commodity groups were the top three contributors to the September 2024 overall inflation:

1)    Food and non-alcoholic beverages with 41.2 percent share or 1.11 percentage points;
2)    Housing, water, electricity, gas and other fuels with 33.1 percent share or 0.89 percentage point; and
3)    Restaurants and Accommodation Services with 12.6 percent share or 0.34 percentage point.

Table B. Year-on-year Inflation Rates in Zamboanga Peninsula, All items in Percent
January 2020- December 2024
(2018=100)

Inflation Rate by Commodity Group for All Income Households in
ZAMBOANGA PENINSULA 2018=100

Food Inflation

Food inflation in Zamboanga Peninsula accelerated to 2.3 percent in October 2024 from 0.6 percent in the previous month. Meanwhile, food inflation in October 2023 was higher at 9.1 percent.

2.1 Main Drivers Behind the downward Trend of the Food Inflation.

This month’s uptrend in the category of Food was mainly due by the higher increase in the annual inflation of Cereal and cereal products (ND) with 5.1 percent in October 2024 from 0.3 percent in September 2024, Milk, other dairy products and eggs at 6.7 percent from 4.8 percent in the previous month and Fruits and nuts at 17.0 percent from 15.0 percent in the previous month.

Also contributing to the overall food inflation in Zamboanga Peninsula during the month of October was the higher increment in the group of Sugar, confectionery and desserts at (3.8) percent from (6.2) percent in the previous month.

Contrarily, the following food groups were observed to have lower increments during the month:

1)    Fish and other seafood (ND) at (4.5) percent from (3.6) percent;
2)    Vegetables, tubers, plantains, cooking bananas and pulses (ND) at (4.1) percent from (1.7) percent; and
3)    Ready-made food and other food products n.e.c at 4.7 percent from 6.8 percent.

In addition, the following food groups recorded to have retained their previous month’s inflation:

1)    Meat and other parts of slaughtered land animals (ND), 3.4 percent;
2)    Oils and fats (ND), (2.1) percent.

2.2 Main Contributors to the Food Inflation.

Food Inflation contributed 41.1 percent share or 1.11 percentage points to the October 2024 for the Headline Inflation. Among the food groups, the main contributors to the food inflation during the month were the following:

1)    Cereal and Cereal products (ND) with 87.1 percent share or 2.0 percentage points;
2)    Fruits and nuts (ND), with 25.1 percent share or 0.58 percentage points; and
3)    Milk, other dairy products and eggs (ND) with 19.0 percent share or 0.44 percentage point.

Among the provinces in the region, Zamboanga City had the highest inflation at 
4.2 percent, followed by Zamboanga Sibugay at 2.7 percent, Zamboanga del Norte at 
2.5 percent and Zamboanga del Sur with 1.0 percent inflation. On the other hand, the City of Isabela recorded the lowest inflation which stood at 0.8 percent inflation.

Note: CPIs and inflation rates by province and selected city are posted at the PSA website (http://openstat.psa.gov.ph/).

MEWCHUN WS. PAMARAN
Regional Director

MFET/MGCN/agi/kxbl