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

A.    Zamboanga Peninsula

1.    Headline Inflation

Inflation rates in Zamboanga Peninsula decelerated further to 2.0 percent in September 2024 from 4.1 percent in August 2024. The region’s average inflation from January to September 2024 posted at 3.7 percent. Inflation rate was higher in September 2023 at 5.4 percent. (Table A and Figure 1)

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

The downward trend in the region’s inflation in September 2024 was primarily influenced by the lower increase in the indices of Food and Non-alcoholic Beverages at 0.7 percent from                 4.3 percent, Transport at (4.5) percent from (1.6) percent, and Housing, water, electricity, gas and other fuels at 6.1 percent from 6.7 percent in the previous month.

Also contributing to the overall inflation in Zamboanga Peninsula during the month of September were the lower increments in the indices of the following commodity groups as compared with their previous month’s inflation rates:

1)    Recreation, Sport and Culture, 6.0 percent from 6.4 percent;
2)    Education services, 4.8 percent from 7.3 percent; and
3)    Restaurants and Accommodation Services, 5.2 percent from 5.4 percent.

In contrast, higher inflation rates during the month were recorded in the categories of Alcoholic Beverages and Tobacco with 6.9 percent from 6.8 percent and Furnishings, household equipment and routine household maintenance, 3.4 percent from 3.2 percent in the previous month.

Meanwhile, the following commodity groups retained their previous month’s inflation rate:

1)    Clothing and footwear, 1.5 percent;
2)    Health, 4.0 percent;
3)    Information and communication, (0.4) percent;
4)    Personal Care, and Miscellaneous Goods and Services, 3.0 percent;
5)    Financial Services, (0.4) 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)    Housing, water, electricity, gas and other fuels with 51.6 percent share or                         1.03 percentage point;
2)    Food and non-alcoholic beverages with 17.7 percent share or 0.35 percentage points; and
3)    Restaurants and Accommodation Services with 16.5 percent share or 0.33 percentage point.

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

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

 Food Inflation

Food inflation in Zamboanga Peninsula slowed down at 0.6 percent in September 2024 from 4.5 percent in the previous month. Meanwhile, food inflation in September 2023 was higher at 10.9 percent.

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

This month’s downward trend in the category of Food was mainly due by the lower increase in the annual inflation of Cereal and cereal products (ND) with 0.3 percent in September 2024 from 12.9 percent in August 2024, Vegetables, tubers, plantains, cooking bananas and pulses (ND) at (1.7) percent from 6.0 percent in the previous month and Ready-made food and other food products n.e.c. (ND) at 6.8 percent from 9.0 percent in the previous month.

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

1)    Meat and other parts of slaughtered land animals (ND), 3.4 percent from 3.3 percent;
2)    Fish and other seafood (ND) at (3.6) percent from (8.9) percent;
3)    Milk, other dairy products and eggs (ND), 4.8 percent from 2.4 percent; and
4)    Fruits and nuts (ND), 15.0 percent from 12.7 percent.

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

1)    Oils and fats (ND), (2.1) percent; and
2)    Sugar, confectionery and desserts, (6.2) percent.

2.2 Main Contributors to the Food Inflation.

Food Inflation contributed 17.7 percent share or 0.35 percentage points to the September 2024 for the Headline Inflation. Among the food groups, the main contributors to the food inflation during the month were the following:

1)    Fruits and nuts (ND), with 88.0 percent share or 0.53 percentage points;
2)    Meat and other parts of slaughtered land animals with 64.8 percent share or 0.39 percentage point; and,
3)    Milk, other dairy products and eggs (ND) with 54.2 percent share or 0.33 percentage point.

Among the provinces in the region, Zamboanga City had the highest inflation at 
3.6 percent, followed by Zamboanga Sibugay at 2.4 percent, Zamboanga del Sur at 
1.4 percent and Zamboanga del Norte with 0.3 percent inflation. On the other hand, the City of Isabela recorded the lowest inflation which stood at 0.2 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/ajdc