Table A. Year-on-Year Inflation Rates for Zamboanga Peninsula and Zamboanga City, All Items
In Percent   
(2018=100)

Zamboanga City

Headline inflation in Zamboanga City eased to 3.4 percent in 
October 2023 from 4.1 percent in September 2023. In October 2022, the inflation rate was slightly higher at 7.2 percent. This makes the year-to-date average inflation rate from January 2023 to October 2023 at percent. (Table A and Figure 1).

The downtrend on the overall inflation in October 2023 was primarily due to the annual decrease in the indices of Food and Non-Alcoholic Beverages with inflation rate recorded at 
8.1 percent during this month compared from the 8.3 percent noted in the preceding month. This commodity group is considered the top contributor in the downtrend of overall inflation in Zamboanga City for October 2023. Another main driver in the lower inflation this month was Alcoholic Beverages and Tobacco recorded at 0.7 percent from the previous month of 3.6 percent.

In addition, the following commodity groups also exhibited lower inflation rates this 
October 2023: 
a.    Food and Non-Alcoholic Beverages, 8.1 percent
b.    Furnishing, Household Equipment and Routine Household Maintenance, 3.6 percent
c.    Health, 1.5 percent
d.    Transport, 0.0 percent 
e.    Recreation, Sport and Culture, 1.4 percent
f.    Restaurants and Accommodation Services, 0.6 percent

On the contrary, higher inflation rates were observed in the following commodity groups during the month: 
a.    Clothing and Footwear, 2.3 percent
b.    Housing, Water, Electricity, Gas and other Fuels, (3.8)
c.    Personal Care, and Miscellaneous Goods and Services, 2.3 percent  

The commodity groups of Information and Communication and Education Services retained its previous month inflation rates at 0.4 percent and 18.9 percent respectively. Meanwhile, the Financial Services index remained at zero percent annual rate during the month.

Table B. Year-on- Year Inflation Rates in Zamboanga City, All Items
In Percent
January 2020 – October 2023
(2018=100)

Table C. Year-On-Year Inflation Rates by Commodity Groups in

 Zamboanga City for all Income Households, 2018=100

Food inflation in Zamboanga City for October 2023 decrease to 8.8 percent from 9.0 percent in September 2023. In October 2022, food inflation was lower at 
6.9 percent.

The main driver in the deceleration of food inflation this October 2023 was brought about by the lower annual growth rate of the food index of Rice at 25.2 percent from 25.8 percent in the previous month. Cereals recorded a lower inflation at 25.0 percent this month from 25.5 percent in September 2023. Likewise, Cereals and cereal products were noted with lower inflation rate at 17.9 percent from the previous month’s 18.5 percent.

The other food indices that contributed in the downtrend of food inflation during this month:
a.    Flour, bread and other bakery products, pasta products and other cereals, 2.1 percent 
b.    Milk, other dairy products and eggs, 4.5 percent 
c.    Flour, bread and other bakery products, pasta products and other cereals, 2.7 percent
d.    Fish and other seafood, 2.8 percent
e.    Sugar, confectionery and desserts, 5.0 percent

In contrast, higher year-on-year growth rates were observed in the indices of the following food commodity in October 2023:
a.    Corn, 8.7 percent
b.    Meat and other parts of slaughtered land animals, 0.1 percent 
c.    Oils and Fats, 2.3 percent
d.    Fruits and Nuts, 7.5 percent
e.    Vegetable, tubers, plantains, cooking bananas and pulses, 17.0 percent 
f.    Ready-made-food and other food products n.e.c, 7.1 percent

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

CES/mgcn