Table A. Year-on-Year Inflation Rates,
for the Bottom 30% Income Household, All Items
In Percent
(2018=100)
Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority
A. Zamboanga City
1. Inflation Rate for the Bottom 30% Income Households
The inflation rate for the bottom 30% income bracket accelerated to 4.2 percent in October 2024, up from 3.3 percent in September 2024. Despite the increase, it was still lower than the 5.1 percent inflation recorded in October 2023. Additionally, the city’s average inflation from January to October 2024 was 5.0 percent. (Refer to Table A and Figure 1)
1.1 Main Drivers to the Uptrend of the Inflation Rate for the Bottom 30%
Income Households
The increase in inflation rate in October 2024 for the bottom 30% income households in Zamboanga City was mainly driven by the higher inflation in the index of Food and Non-alcoholic Beverages, which accelerated to 2.8 percent from 1.4 percent in the previous month. Furthermore, the cost increase within the categories of Transport index, which posted 3.4 percent inflation from 1.9 percent, and in Restaurants and Accommodation Services at 3.8 percent from 3.5 percent, also contributed to the uptrend in the inflation rate in October 2024.
There was also a notable increase in the annual growth rate of the Health category with 4.9 percent from 4.5 percent inflation in the previous month.
In comparison, the Housing, Water, Electricity, Gas and Other Fuels index showed slower growth, with inflation decreasing to 10.1 percent from 11.1 percent in September 2024.
Meanwhile, the annual growth rates of the following commodity groups were consistent with those recorded in the previous month:
a. Alcoholic Beverages and Tobacco with 4.5 percent inflation;
b. Clothing and Footwear at 1.4 percent;
c. Furnishings, Household Equipment and Routine Household Maintenance, 6.6 percent;
d. Information and Communication, 0.1 percent;
e. Recreation, Sport and Culture, 5.0 percent;
f. Education Services, 6.1 percent;
g. Personal Care and Miscellaneous Goods and Services, which posted 2.6 percent; and,
h. Financial Services at 0.0 percent.
1.2 Main Contributors to the Inflation Rate for the Bottom 30% Income Households
The top three (3) commodity groups contributing to the October 2024 inflation rate for the bottom 30% were the following:
a) Housing, Water, Electricity, Gas and Other Fuels, contributing 41.1 percent share or 1.7 percentage points;
b) Food and Non-alcoholic Beverages with 39.6 percent share or
1.7 percentage points;
c) Transport, contributing 4.8 percent share or 0.2 percentage point.
Table B. Year-on-year Inflation Rates for the Bottom 30% Income Households
in Zamboanga City, All items in Percent
January 2020- October 2024
(2018=100)
Table C. Inflation Rate by Commodity Group for the Bottom 30% Income Households in
ZAMBOANGA CITY 2018=100
2. Food Inflation
The monthly Food inflation for the bottom 30% Income Households in Zamboanga City accelerated to 3.0 percent in October 2024 from 1.6 percent in September. However, this was comparatively lower than the recorded Food inflation in October 2023, which stood at 9.8 percent.
2.1 Main Drivers to the Uptrend of Food Inflation
The acceleration of Food inflation in October 2024 was primarily driven by a higher annual growth rate in Fish and Other Seafood (ND) index, which posted 4.1 percent from 0.5 percent in the previous month. Moreover, the increase in prices within the categories of Cereals and cereal products (ND), and Milk, other dairy products and eggs (ND), also contributed to the uptrend which stood at 2.6 percent from 1.6 percent, and 8.4 percent from 2.4 percent, respectively.
On the contrary, lower increments were observed in the following food commodity groups:
a. Meat and other parts of slaughtered land animals (ND), 2.8 percent from 3.7 percent;
b. Vegetables, tubers, plantains, cooking bananas and pulses (ND) at (7.4) percent from (4.5) percent;
c. Ready-made food and other food products n.e.c. (ND) with 3.1 percent from 7.7 percent inflation.
Meanwhile, the annual rates for the food index of Oils and Fats retained at (0.1) percent inflation in October 2024.
2.2 Main Contributors to the Food Inflation
Food inflation contributed 23.5 percent share or 0.8 percentage points to the overall inflation for the Bottom 30% Income Households in Zamboanga City. Moreover, the top three (3) Food groups contributing to the September 2024 food inflation were the following:
a) Cereals and cereal products, contributing 37.4 percent share or 1.12 percentage points;
b) Fruits and Nuts with 27.7 percent share or 0.8 percentage point; and,
c) Fish and Other Seafood (ND), contributing 26.4 percent share or 0.8 percentage point.
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Note: CPIs and inflation rates for the bottom 30% income households by region and by province and selected city are posted at the PSA website (http://openstat.psa.gov.ph/).
MEWCHUN WS. PAMARAN
Regional Director
MFET/MGCN/kxbl
