Table A. Year-on-Year Inflation Rates for Zamboanga Peninsula and Zamboanga City, All Items
In Percent
(2018=100)
A. Zamboanga City
a. Overall Inflation Rate
Headline inflation in Zamboanga City decelerated to 3.8 percent in November 2024 from 4.2 percent in October 2024. On the contrary, the inflation rate in November 2023 was lower at 3.0 percent. This brings the city’s average inflation from January 2024 to November 2024 to 4.3 percent. (Refer to 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 November 2024 was primarily driven by the slower annual increment of Food and Non-Alcoholic Beverages, which stood at 2.5 percent from 3.1 percent inflation in October 2024. In addition, the decrease in prices in the categories of Transport with (3.1) percent from (1.9) percent, and Housing, Water, Electricity, Gas and Other Fuels at 9.8 percent from 10.1 percent also contributed to the deflationary trend of the overall inflation rate in Zamboanga City.
Contrarily, an increase in prices were observed in the following indices:
a. Health, with 5.1 percent from 4.9 percent inflation;
b. Recreation, Sport and Culture at 3.9 percent from 3.0 percent;
c. Personal Care, and Miscellaneous Goods and Services, 2.6 percent from 2.4 percent;
d. Furnishings, Household Equipment and Routine Household Maintenance posted 2.1 percent from 2.0 percent inflation; and,
e. Information and Communication, 1.1 percent from 1.0 percent inflation
Meanwhile, the following commodity groups retained their previous month’s inflation rates:
a. Education Services, 5.8 percent;
b. Alcoholic Beverages and Tobacco, 4.6 percent;
c. Restaurants and Accommodation Services, 3.8 percent;
d. Clothing and Footwear, 1.7 percent; and,
e. Financial Services, 0.0 percent inflation
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 54.2 percent share or 2.1 percentage points;
b) Food and Non-Alcoholic Beverages contributing 29.9 percent share or 1.1 percentage points; and,
c) Restaurants and Accommodation Services 6.4 percent share or 0.2 percentage point
Table B. Year-on- Year Inflation Rates in Zamboanga City, All Items
In Percent
January 2020 – November 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 November 2024 decreased to 2.7 percent from 3.3 percent in October 2024. On the other hand, the food inflation in November 2023 was higher at 8.3 percent.
1.1 The Main Drivers Behind the Downtrend of the Food Inflation
The main drivers in the downtrend of food inflation in November 2024 was brought by the slower annual growth rate of the food index of Cereals and cereal products (ND), which recorded 0.2 percent from 2.9 percent inflation in the previous month. In addition, the decrease in prices of the food indices of Fish and other seafood (ND) at 2.0 percent from 4.2 percent, and Milk, and other dairy products and eggs (ND) at 4.9 percent from 9.5 percent inflation also contributed to the lower food inflation.
On the contrary, higher year-on-year growth rates were observed in the following food commodities:
a. Corn, with (1.3) percent from (2.3) percent;
b. Meat and other parts of slaughtered land animals (ND), 2.8 percent from 2.7 percent;
c. Oils and fats (ND), (0.2) percent from (0.5) percent;
d. Vegetables, tubers, plantains, cooking bananas and pulses (ND), 2.6 percent from (8.0) percent;
e. Sugar, confectionery and desserts (ND), (0.4) percent from (1.7) percent; and,
f. Ready-made food and other food products n.e.c. (ND), 3.1 percent from 2.5 percent inflation
1.2 Main Contributors to the Food Inflation
Food inflation shared 29.6 percent or 1.1 percentage points to the overall inflation in November 2024. The top three (3) food groups that contributed to the acceleration of the food inflation during the month were the following:
a. Fruits and nuts (ND) with a share of 39.4 percent or 1.1 percentage points;
b. Fish and other seafood (ND), contributing 15.3 percent share or 0.4 percentage point; and,
c. Meat and other parts of slaughtered land animals (ND), with 14.4 percent share or 0.4 percentage point
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/MGCN/kxbl
