Table A. Year-on-Year Inflation Rates, All Items
In Percent
(2018=100)
A. Zamboanga Peninsula
1. Headline Inflation
Inflation rate in Zamboanga Peninsula slowed down to 2.4 percent in November 2024 from 2.7 percent in October 2024. This brings the region’s average inflation from January to November 2024 at 3.5 percent. Inflation rate was higher in November 2023 at 4.3 percent. (Table A and Figure 1)
1.1 Main Drivers to the Downward Trend for the Headline Inflation:
The downward trend in the region’s inflation in November 2024 was primarily influenced by the lower increase in the indices of Food and Non-alcoholic Beverages at 1.3 percent from 2.2 percent and Personal Care, and Miscellaneous Goods and Services at 2.6 percent from 2.7 percent.
In contrast, higher inflation rates during the month were recorded in the following commodity groups:
1) Housing, water, electricity, gas and other fuels, 6.0 percent from 5.3 percent;
2) Health, 3.8 percent from 3.7 percent;
3) Transport, (2.5) percent from (3.1) percent;
4) Information and communication, (0.8) percent from (0.9) percent;
5) Recreation, sport and culture, 6.3 percent 5.9 percent; and
6) Restaurants and Accommodation Services, 5.6 percent from 5.4 percent.
Meanwhile, the following commodity groups retained their previous month’s inflation rate:
1) Alcoholic beverages and tobacco, 7.3 percent;
2) Clothing and footwear, 1.4 percent;
3) Furnishings, household equipment, and routine household maintenance, 3.1 percent;
4) Financial Services, (0.4) percent; and
5) Education Services, 4.8 percent.
2.2 Main Contributors to the Inflation Rate for the Headline Inflation:
The following commodity groups were the top three contributors to the November 2024 overall inflation:
1) Housing, water, electricity, gas and other fuels with 41.7 percent share or 1.0 percentage point;
2) Food and non-alcoholic beverages with 27.1 percent share or 0.65 percentage point; and
3) Restaurants and Accommodation Services with 14.6 percent share or 0.35 percentage point.
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
Food Inflation
Food inflation in Zamboanga Peninsula decelerated to 1.2 percent in November 2024 from 2.3 percent in the previous month. Meanwhile, food inflation in November 2023 was higher at 9.0 percent.
2.1 Main Drivers Behind the downward Trend of the Food Inflation.
This month’s downtrend in the category of Food was mainly due by the lower increase in the annual inflation of Cereal and cereal products (ND) with 1.1 percent in November 2024 from 5.1 percent in October 2024, Milk, other dairy products and eggs at 3.5 percent from 6.7 percent in the previous month and Meat and other parts of slaughtered land animals (ND) at 2.2 percent from 3.4 percent in the previous month.
Also contributing to the overall food inflation in Zamboanga Peninsula during the month of November was the lower increment in the groups of fruits and nuts and Ready-made food and other food products n.e.c at 14.7 percent from 17.0 percent in the previous month and 4.0 percent from 4.7 percent in the previous month, respectively.
Contrarily, the following food groups were observed to have higher increments during the month:
1) Fish and other seafood (ND), (4.2) percent from (4.5) percent;
2) Oils and fats (ND), (1.2) percent from (2.1) percent;
3) Vegetables, tubers, plantains, cooking bananas and pulses (ND) at 4.7 percent from (4.1) percent; and
4) Sugar, and confectionery and desserts at (3.1) percent from (3.8) percent.
2.2 Main Contributors to the Food Inflation.
Food Inflation contributed 22.1 percent share or 0.65 percentage points to the November 2024 for the Headline Inflation. Among the food groups, the main contributors to the food inflation during the month were the following:
1) Fruits and nuts (ND), with 49.2 percent share or 0.59 percentage points;
2) Cereal and Cereal products (ND) with 42.6 percent share or 0.51 percentage points; and
3) Vegetables, tubers, plantains, cooking bananas and pulses (ND) with 33.9 percent share or 0.41 percentage point.
Among the provinces in the region, Zamboanga City had the highest inflation at
3.8 percent, followed by Zamboanga Sibugay at 2.6 percent, Zamboanga del Norte at
1.8 percent and City of Isabela with 1.6 percent inflation. On the other hand, Zamboanga del Sur recorded the lowest inflation which stood at 1.0 percent inflation.
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/ajdc
