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

A.    Zamboanga City

a.    Overall Inflation Rate
Headline inflation in Zamboanga City eased to 5.5 percent in August 2024 from 
6.5 percent in July 2024. This brings the city’s average inflation from January 2024 to 
August 2024 to 4.5 percent. In August 2023, inflation rate was lower at 3.5 percent. 
(Table A and Figure 1).

1.1    Main Drivers Behind the Downtrend of the Overall Inflation Rate in Zamboanga City

The main drivers on the downtrend of the overall inflation in August 2024 was primarily brought about by the slower annual increment of Food and Non-Alcoholic Beverages, which posted 5.2 percent inflation from 7.5 percent in July 2024. Additionally, the decrease of prices in the indices of Transport at (2.8) percent from 2.6 percent inflation, and Education Services with 11.7 percent from 18.9 percent inflation also contributed to the downtrend in the overall inflation in Zamboanga City.

Moreover, the following commodity groups also registered lower annual increments:
a.    Clothing and Footwear, from 1.8 percent to 1.5 percent;
b.    Furnishings, Household Equipment, and Routine Household Maintenance, from 1.9 percent to 1.5 percent;
c.    Personal Care, and Miscellaneous Goods and Services, from 2.5 percent to 2.4 percent; and,
d.    Alcoholic Beverages and Tobacco, from 4.6 percent to 4.5 percent inflation.
In contrast, there was a notable higher annual increments in the indices of Housing, Water, Electricity, Gas and Other Fuels, and Health, which posted 12.1 percent from 9.5 percent, and 4.4 percent from 3.2 percent inflation, respectively.

Meanwhile, the following commodity groups retained their previous month’s inflation rates:
a.    Information and Communication at 1.0 percent inflation;
b.    Restaurants and Accommodation Services, 3.2 percent;
c.    Recreation, Sport and Culture, 2.6 percent; and,
d.    Financial Services at 0.0 percent.

1.2    Main Contributors to the Overall Inflation Rate

The top three (3) commodity groups contributing to the overall inflation rate in Zamboanga City were the following:
a.    Housing, Water, Electricity, Gas and Other Fuels, contributing 46.1 percent share or 2.5 percentage points;
b.    Food and Non-Alcoholic Beverages with 42.9 percent share or 2.4 percentage points; and,
c.    Restaurants and Accommodation Services at 3.7 percent share or 0.2 percentage point.

Table B. Year-on- Year Inflation Rates in Zamboanga City, All Items
In Percent
January 2020 – August 2024
(2018=100)
 

Table C. Year-On-Year Inflation Rates by Commodity Groups in Zamboanga City for all Income Households, 2018=100
 

2. Food Inflation

Food inflation in Zamboanga City for August 2024 slowed down to 5.6 percent from 8.0 percent inflation in July 2024. Comparatively, the food inflation in August 2023 was higher at 6.7 percent.

1.1    The Main Drivers Behind the Downtrend of the Food Inflation

The main drivers in the downtrend of food inflation in August 2024 was brought by the lower annual growth rate of the food index of Cereals and Cereal Products (ND), which recorded 11.1 percent during the month from 16.9 percent inflation in July 2024. Additionally, the decrease in prices of the food indices of Vegetables, Tubers, Plantains, Cooking Bananas and 7.0 percent from 9.7 percent; and, Ready-made Food and Other Food Products n.e.c. (ND) at 8.4 percent from 12.3 percent inflation also contributed to the lower food inflation.

The other categories which recorded a decline in food inflation in August 2024 were the following:
a.    Fish and other seafood (ND), (1.0) percent from (0.5) percent;
b.    Meat and other parts of slaughtered land animals (ND), 3.3 percent from 3.5 percent; and,
c.    Sugar, confectionery and desserts (ND) with (6.1) percent from (5.7) percent inflation.

Meanwhile, higher year-on-year growth rates were observed in the indices of the following food commodities:
a.    Corn posted 12.4 percent from 7.7 percent;
b.    Fruits and Nuts (ND), 21.2 percent from 19.6 percent; and,
c.    Flour Bread and other Bakery Products, Pasta Products and other Cereals with 5.7 percent from 5.5 percent.

Meanwhile, the annual rates for the food index of Oils and fats (ND) retained at (0.5) percent inflation in August 2024.

1.2    Main Contributors to the Food Inflation

Food inflation shared 42.7 percent or 2.4 percentage points to the overall inflation in August 2024. The top three (3) food groups that contributed to the deceleration of the food inflation during the month were the following:
a.    Cereals and cereal products with a share of 30.1 percent or 1.7 percentage points;
b.    Fruits and Nuts (ND), with 5.0 percent share or 0.3 percentage points; and,
c.    Vegetables, tubers, plantains, cooking bananas and pulses with a share of 4.1 percent or 0.2 percentage points.
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/kxbl