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 further decelerated to 4.2 percent in 
May 2023 from 4.8 percent in April 2023. This is the third consecutive month in the deceleration of headline inflation in Zamboanga City. Last May 2022, inflation rate was slightly higher at 4.7 percent. The year-to-date average inflation rate from January 2023 to May 2023 was recorded at 5.9 percent. (Table A and Figure 1).

The downtrend on the overall inflation in May 2023 was primarily due to the annual decline in the commodity group of Transport with lower inflation rate at -1.6 percent from 4.2 percent in the previous month and the top contributor in the downtrend of inflation for May 2023. Another driver in the easing down of inflation was Food and Non-Alcoholic Beverages recorded at 6.4 percent from 6.5 percent in April 2023 and ranked second in the share to inflation trend. The commodity group Alcoholic Beverages and Tobacco was the third primary driver in the deceleration of inflation for May 2023 with an inflation rate of 7.2 percent from 8.4 percent in the previous month.

The other commodity groups that also contributed to the lower inflation in May 2023 in Zamboanga City were Personal Care, and Miscellaneous Goods and Services recorded at 3.1 percent from 3.3 percent and Health with inflation rate of 
3.5 percent from 3.7 percent in the previous month.  

Meanwhile, the other remaining commodity groups retained their previous month’s inflation rate:
a.    Clothing and Footwear, 2.7 percent
b.    Housing, Water, Electricity, Gas and Other Fuels, 1.8 percent
c.    Furnishings, Household Equipment and Routine Household Maintenance, 5.3 percent
d.    Information and Communication, 0.4 percent
e.    Recreation, Sport, and Culture, 2.6 percent
f.    Education Services, 6.1 percent
g.    Restaurants and Accommodation Services, 5.8 percent
h.    Financial Services, 0.0 percent

 

Table B. Year-on- Year Inflation Rates in Zamboanga City, All Items
In Percent
January 2019 – May 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 slowed down further to 6.8 percent during this month from 6.9 percent in April 2023. In May 2022, food inflation was recorded at 4.1 percent only.

The primary drivers in the downtrend of food inflation this month was the lower annual growth in the food indices of Fish and other Seafood recorded at 0.8 percent from 2.9 percent and Vegetables, tubers, plantains, cooking bananas and pulses recorded at 6.8 percent from 9.3 percent in April 2023. The third primary driver in the slower food inflation was Oils and Fats at 2.1 percent from 3.1 percent in the previous month. Another food index that exhibited lower inflation rate this month was Corn at 3.2 percent from 4.6 percent in April 2023.

In contrast, higher inflation rates were observed in the following food indices for May 2023:
a.    Cereals and cereal products, 6.7 percent
b.    Cereals, 6.6 percent
c.    Rice, 6.6 percent
d.    Meat and other parts of slaughtered land animals, 7.5 percent
e.    Milk, other dairy products and eggs, 10.6 percent
f.    Fruits and Nuts, 9.6 percent
g.    Sugar, confectionery and desserts, 27.4 percent
h.    Ready-made food and other food products n.e.c., 12.9 percent

Meanwhile, the food index of Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals recorded at 6.8 percent remained its previous month’s inflation rate.

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

RMABG/mgcn