Table A. Year-on-Year Inflation Rates, All Items
In Percent
(2018=100)
Zamboanga Peninsula
Inflation rates in Zamboanga Peninsula decreased to 4.6 percent in May 2024 from 4.7 percent in April 2024. The region’s average inflation from January to May 2024 posted at 3.4 percent. Inflation rate was higher in May 2023 at 5.9 percent. (Table A and Figure 1)
The main driver to the downward trend in the region’s inflation in May 2024 was primarily influenced by the lower increase in the indices of Food and Non-alcoholic Beverages at 6.0 percent from 7.5 percent in the previous month, Clothing and Footwear at 1.7 percent from 1.9 percent in the previous month, and Information and Communication at (0.5) percent from (0.2) percent in the previous month.
Also contributing to the overall inflation in Zamboanga Peninsula during the month of May were the lower increments in the index of Recreation, sport and culture at 5.9 percent from 6.0 percent in the previous month.
In contrast, higher inflation rates were observed in the following commodity groups as compared with their previous month’s inflation rates:
1) Alcoholic beverages and tobacco, 7.4 percent from 7.3 percent;
2) Housing, water, electricity, gas and other fuels, (0.2) percent from (0.3) percent;
3) Furnishings, household equipment and routine household maintenance, 3.7 percent from 3.5 percent;
4) Health, 3.9 percent from 3.3 percent;
5) Transport, 3.2 percent from 1.5 percent; and
6) Restaurants and accommodation services, 5.2 percent from 4.0 percent.
Meanwhile, the commodity groups of Education Services, Financial Services, and Personal care and Miscellaneous goods and services retained their previous month inflation rates at 8.2 percent, (0.4) percent, and 3.1 percent respectively.
Table B. Year-on-year Inflation Rates in Zamboanga Peninsula, All items in Percent
January 2020- May 2024
(2018=100)
Inflation Rate by Commodity Group for All Income Households in
ZAMBOANGA PENINSULA 2018=100
Likewise, food inflation in Zamboanga Peninsula decelerated to 6.4 percent in May 2024 from 8.0 percent in April 2024. In May 2023, food inflation was higher at 7.5 percent.
The deceleration of food inflation was mainly due to the lower increase of Cereals and cereal products (ND) at 17.2 percent from 19.6 percent in the previous month.
In addition, the following food groups recorded to have lower increments during the month:
1) Cereals (ND), 20.8 percent from 23.8 percent;
2) Rice, 23.5 percent from 27.1 percent;
3) Corn, 12.1 percent from 13.1 percent;
4) Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals; 4.4 percent from 4.5 percent;
5) Fish and other seafood, (2.7) percent from 2.0 percent;
6) Oils and fats, (4.1) percent from (4.0) percent; and
7) Milk, other dairy products and eggs; 2.1 percent from 5.8 percent.
On the other hand, the following food groups were observed to have lower increments:
1) Meat and other parts of slaughtered land animals, (0.8) percent from (1.3) percent;
2) Fruits and nuts, 12.2 percent from 11.6 percent;
3) Vegetables, tubers, plantains, cooking bananas and pulses, 3.0 percent from 0.6 percent;
4) Sugar, confectionery and desserts, (3.8) percent from (4.3) percent; and
5) Ready-made food and other food products n.e.c., 8.7 percent from 7.1 percent.
Among the provinces in the region, Zamboanga Sibugay had the highest inflation at
5.8 percent, followed by City of Zamboanga at 5.1 percent, Zamboanga del Sur at
4.3 percent, City of Isabela at 4.2 percent, and Zamboanga del Norte recorded the lowest inflation at 3.3 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
MFET/ajdc
