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

Figure 1. Headline Inflation Rates in Zamboanga del Norte,
All Items (2018=100)
 

Over – all Inflation

Zamboanga del Norte’s inflation for all income households decelerated to 3.4 percent from 4.3 percent in June 2024. In July 2023, inflation rate was posted at 2.7 percent (Figure 1 and Table A).

Attributes in the Downtrend of the Overall Inflation

The downtrend in the overall inflation in July 2024 was primarily attributed to the lower annual increment in the heavily weighted food and non-alcoholic beverages at 4.8 percent in July 2024 from 6.9 percent in the previous month.

Moreover, lower year-on-year mark-ups were noted in the indices of the following commodity groups during the month:

1. Clothing and Footwear, 1.9 percent from 2.1 percent

2. Furnishing, Household Equipment and Routine Household Maintenance, 5.6 percent from 5.7 percent

3. Personal Care, and Miscellaneous Goods and Services, 2.4 Percent from 2.5 percent

In contrast, the following commodity groups registered higher inflation rates during the month:

• Housing, water, electricity, gas and other fuels, -1.0 percent from -1.6 percent;

• Health, 2.3 percent from 2.2 percent;

• Transport, 2.8 percent from 1.8 percent;

• Recreation, Sport and Culture,  7.0 percent from 6.6;

• Education Services, 1.8 percent from 0.0 percent.

Main Contributors to the Headline Inflation

The top three commodity groups contributing to the July 2024 overall inflation were the following:

1. Food and non-alcoholic beverages with 68.8 percent share or 4.8 percentage points;

2. Restaurants and accommodation services with 11.10 percent share or 10.30 percentage point; and

3. Transport with 7.4 percent share or 2.8 percentage point.

Downtrend Overall Food Inflation

Overall food inflation in Zamboanga del Norte which was recorded in the downtrend level were noted in the following sub-groups;

1. cereals and cereal products with 14.3 percent inflation from 17.1 percent in the previous month;

2. meat and other parts of slaughtered land animals with 0.9 percent from 1.9 percent inflation in the previous month;

3. fruits and nuts with 8.2 percent inflation from 16.7 percent from previous month;

4. vegetables, tuber, plantains, cooking bananas and pulses with 5.4 percent from 6.5 percent in the previous month; and

5. sugar, confectionery and desserts with -10.8 percent from -9.5 percent inflation from previous month

Table B. Year-on-Year Inflation Rates in Zamboanga del Norte, 
All Items January 2019 to July 2024 In Percent (2018=100)

Purchasing Power of Peso

In Zamboanga del Norte, the purchasing power of peso was recorded at Php0.81, which explains that you needed Php124.00 for a basket of food and non-food commodities in July 2024 which only costs Php100.00 the year 2018.

Technical Notes:

Consumer Price Index (CPI) – is the measures of change in prices paid by consumers for goods and services. It is a way to measure changes in purchasing trends and inflation.
Inflation Rate (IR) – Inflation rate refers to the annual rate of change or the year-on-year change of the CPI expressed in percentage.  It is computes using the following formula;

Purchasing Power of Peso (PPP) = The purchasing power of peso (PPP) is a measure of the real value of the peso in a given period relative to the base period.  It is computed by getting the reciprocal of the CPI and multiplying the result by 100 as follows:

SESENIA C. BELORIO
Officer In Charge
(Supervising Statistical Specialist)