Table A. Year-on-Year Inflation Rates, All Items
In Percent
(2018=100)
Zamboanga Peninsula
Inflation rates in Zamboanga Peninsula increased to 4.7 percent in April 2024 from 3.5 percent in March 2024. The region’s average inflation from January to April 2024 posted at 3.1 percent. Inflation rate was higher in April 2023 at 6.4 percent. (Table A and Figure 1)
The main driver to the upward trend in the region’s inflation in April 2024 was primarily influenced by the higher increase in the indices of Food and Non-alcoholic Beverages at 7.5 percent from 5.4 percent in the previous month, Housing, water, electricity, gas and other fuels at 0.2 percent from (0.7) percent in the previous month, and Transport at 1.4 percent from 0.5 percent in the previous month.
Also contributing to the overall inflation in Zamboanga Peninsula during the month of April were the higher increments in the indices of the following commodity groups as compared with their previous month’s inflation rates:
1) Furnishings, household equipment and routine household maintenance, 3.5 percent from 3.1 percent;
2) Information and Communication, (0.2) percent from (0.3) percent;
3) Recreation, sport and culture, 6.0 percent from 5.9 percent;
4) Restaurants and Accommodation services, 4.0 percent from 3.8 percent; and
5) Personal care, and Miscellaneous goods and services, 3.1 percent from 2.5 percent.
In contrast, lower inflation rates were observed in the following commodity groups during the month:
1) Alcoholic beverages and tobacco, 7.3 percent from 7.6 percent; and
2) Health, 3.3 percent from 3.4 percent;
Meanwhile, the commodity groups of Education Services, Clothing and Footwear, and Financial Services retained their previous month inflation rates at 8.2 percent, 1.9 percent, and (0.4) percent, respectively.
Table B. Year-on-year Inflation Rates in Zamboanga Peninsula, All items in Percent
January 2020- December 2024
(2018=100)
Inflation Rate by Commodity Group for All Income Households in
ZAMBOANGA PENINSULA 2018=100
Likewise, food inflation in Zamboanga Peninsula accelerated further to 8.0 percent in April 2024 from 5.6 percent in March 2024. In April 2023, food inflation was lower at 7.6 percent.
The acceleration of food inflation was mainly due to the higher increase of Fish and other seafood at 2.0 percent from (3.9) percent in the previous month; Vegetables, tubers, plantains, cooking bananas and pulses at 0.6 percent from (8.1) percent in the previous month; and Meat and other parts of slaughtered land animals at (1.3) percent from (2.7) percent.
In addition, the following food groups recorded to have higher increments during the month:
Corn, 13.1 percent from 11.8 percent;
Fruits and nuts, 11.6 percent from 10.3 percent;
Oils and fats, (4.0) percent from (4.5) percent;
Sugar, confectionery and desserts, (4.3) percent from (5.9) percent; and
Ready-made food and other food products n.e.c., 7.1 percent from 4.8 percent.
On the other hand, the following food groups were observed to have lower increments:
Cereals and cereal products (ND), 19.6 percent from 20.6 percent;
Cereals (ND), 23.8 percent from 25.3 percent;
Rice, 27.1 percent from 29.4 percent; and
Milk, other dairy products and eggs; 5.8 percent from 7.7 percent.
Meanwhile, the index of Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals remained its previous month’s inflation rate at 4.5 percent.
Among the provinces in the region, Zamboanga Sibugay had the highest inflation at
5.4 percent, followed by Zamboanga del Norte at 4.9 percent, City of Zamboanga at
4.8 percent, Zamboanga del Sur at 4.2 percent, and the City of Isabela recorded the lowest inflation at 3.2 percent.
Note: CPIs and inflation rates by province and selected city are posted at the PSA website (http://openstat.psa.gov.ph/).
SGD
MEWCHUN WS. PAMARAN
Regional Director
MFET/ajdc
