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

   Zamboanga City

  Overall Inflation Rate
Headline inflation in Zamboanga City eased to 3.6 percent in September 2024 from 
5.5 percent in August 2024. This brings the city’s average inflation from January 2024 to 
September 2024 to 4.4 percent. In September 2023, inflation rate was higher at 4.1 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 September 2024 was primarily brought about by the slower annual increment of Food and Non-Alcoholic Beverages, which posted 1.9 percent inflation from 5.2 in August 2024. Additionally, the decrease of prices in the indices of Housing, Water, Electricity, Gas and Other Fuels at 11.1 percent from 12.1 percent inflation, and Transport with (5.0) percent from (2.8) percent inflation also contributed to the downtrend in the overall inflation in Zamboanga City.

Moreover, the Education Services index also registered lower annual increments with 5.8 percent inflation from 11.7 percent in the previous month.

In contrast, there was a notable higher annual increments in the following commodity groups:
a.    Clothing and Footwear from 1.5 percent to 1.7 percent inflation;
b.    Furnishings, Household Equipment and Routine Household Maintenance, from 1.5 percent to 1.9 percent;
c.    Health, from 4.4 percent to 4.7 percent;
d.    Recreation, Sport and Culture, from 2.6 percent to 2.9 percent;
e.    Restaurants and Accommodation Services, from 3.2 percent from 3.5 percent; and,
f.    Personal Care, and Miscellaneous Goods and Services, from 2.4 percent to 2.5 percent inflation.

Meanwhile, the following commodity groups retained their previous month’s inflation rates:
a.    Alcoholic Beverages and Tobacco at 4.5 percent inflation;
b.    Information and Communication with1.0 percent; and,
c.    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 64.6 percent share or
2.3 percentage points;
b.    Food and Non-Alcoholic Beverages contributing 23.9 percent share or 0.9 percentage point; and,
c.    Restaurants and Accommodation Services 6.2 percent share or 0.2 percentage point.
 

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

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

Food Inflation

Food inflation in Zamboanga City for September 2024 slowed down to 2.0 percent from 5.6 percent inflation in August 2024. Comparatively, the food inflation in September 2023 was higher at 9.0 percent.

1.1    The Main Drivers Behind the Downtrend of the Food Inflation

The main drivers in the downtrend of food inflation in September 2024 was brought by the lower annual growth rate of the food index of Cereals and Cereal Products (ND), which recorded
2.4 percent during the month from 11.1 percent inflation in August 2024. Additionally, the decrease in prices of the food indices of Vegetables, Tubers, Plantains, Cooking Bananas with (4.4) percent from 7.0 and, Ready-made Food and Other Food Products n.e.c. (ND) at 5.6 percent from 8.4 percent inflation also contributed to the lower food inflation.

Meanwhile, higher year-on-year growth rates were observed in the indices of the following food commodities:
a.    Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals posted
5.9 percent from 5.7 percent;
b.    Meat and other parts of slaughtered land animals (ND), 3.6 percent from
3.3 percent;
c.    Fish and other seafood with 0.4 percent from (1.0) percent;
d.    Milk, other dairy products and eggs (ND), 3.4 from 0.9;
e.    Fruits and nuts (ND), 21.4 percent from 21.2 percent; and,
f.    Sugar, confectionery and desserts (ND) with (5.4) percent from (6.1) percent inflation in August 2024.

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

1.2    Main Contributors to the Food Inflation

Food inflation shared 23.3 percent or 0.8 percentage points to the overall inflation in September 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 43.0 percent or 0.9 percentage point;
b.    Fruits and nuts (ND), contributing 33.3 percent share or 0.7 percentage point; and,
c.    Meat and other parts of slaughtered land animals (ND), with 22.0 percent share or
0.4 percentage points; and,
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/kxbl