Table A. Year-on-Year Inflation Rates for Zamboanga Peninsula and Zamboanga City, All Items

 In Percent  

(2018=100)

Zamboanga City

Headline inflation in Zamboanga City further increased to 4.6 percent in March 2024 from 
2.5 percent in February 2024. This brings the city’s average inflation from January 2024 to 
March 2024 to 3.0 percent. In March 2023, inflation rate was higher at 6.3 percent. 
(Table A and Figure 1).

The main driver on the uptrend of the overall inflation in March 2024 was due to the annual increase in the indices of Housing, Water, Electricity, Gas and other Fuels with inflation rate recorded at 
5.1 percent compared from the (1.6) percent noted in the preceding month. This commodity group is the top contributor in the uptrend of inflation in Zamboanga City for March 2024. Another commodity group that also contributed in the acceleration of inflation was the indices of Food and Non-Alcoholic Beverages at 6.4 percent from 5.0 percent in February 2024.

In addition, the following commodity groups registered higher inflation rates on
March 2024:

a.    Health, 1.9 percent from 1.3 percent
b.    Information and Communication, 0.9 percent from 0.3 percent
c.    Recreation, Sport and Culture, 1.8 percent from 0.1 percent
d.    Alcoholic Beverages and Tobacco,4.5 percent from 4.0 percent
e.    Furnishing, Household Equipment and Routine Household Maintenance, 1.4 percent from 1.3 percent

On the contrary, lower inflation rates were noted in the following commodity groups during the month: 
a.    Clothing and Footwear, 1.5 percent from 1.8 percent
b.    Transport, (2.4) percent from (1.4) percent 
c.    Restaurants and Accommodation Services, 1.4 percent from 1.7 percent 
d.    Personal Care and Miscellaneous Goods and Services, 1.3 percent from 1.5 percent

The commodity group of Education Services retained its previous month inflation rate at 
18.9 percent. Meanwhile, the Financial Services index remained at zero percent annual rate during the month.

Table B. Year-on- Year Inflation Rates in Zamboanga City, All Items

In Percent

January 2020 – March 2024

(2018=100)

Table C. Year-On-Year Inflation Rates by Commodity Groups in Zamboanga City for all Income Households, 2018=100

Food inflation in Zamboanga City for March 2024 accelerated to 7.0 percent from 5.4 percent in February 2024. In March 2023, food inflation was higher at 8.3 percent.

The uptrend in the acceleration of food inflation on March 2024 was brought about by the higher annual growth rate of the food index of Cereals and cereal products (ND) recorded at 
20.8 percent from 20.0 percent in the February 2024. Fish and other seafood also contributed to the higher food inflation at 1.2 percent from (0.3) percent.

The other food indices which recorded an uptrend in the food inflation in March 2024:
a.    Meat and other parts of slaughtered land animals, (1.0) percent from (3.1) percent
b.    Vegetable, tubers, plantains, cooking bananas and pulses, (4.1) percent from (7.2) percent
c.    Rice, 28.6 percent from 28.3 percent
d.    Cereals, 28.3 percent from 27.9 percent
e.    Fruits and nuts, 9.5 percent from 8.2 percent
f.    Ready-made-food and other food products n.e.c, 2.0 percent from 1.9 percent
g.    Oils and fats, (0.6) percent from (0.7) percent
h.    Flour, Bread and other Bakery Products, Pasta Products and other Cereals, 4.6 percent from 2.9 percent
i.    Corn, 5.9 percent from 5.3 percent

Meanwhile, lower year-on-year growth rates were observed in the indices of the following food commodity in March 2024:
a.    Milk, other dairy products and eggs, 11.4 percent from 10.7 percent
b.    Sugar, confectionery and desserts, (4.7) percent from (4.0) 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/mgcn