Table A. Year-on-Year Inflation Rates, All Items
In Percent
(2018=100)

A.    Zamboanga Peninsula

1.    Headline Inflation

Inflation rate in Zamboanga Peninsula increased to 2.6 percent in December 2024 from 2.4 percent in November 2024. This brings the region’s annual inflation from January to December 2024 at 3.4 percent. Inflation rate was higher in December 2023 at 3.7 percent. (Table A and Figure 1)

1.1 Main Drivers to the Upward Trend for the Headline Inflation:

The upward trend in the region’s inflation in December 2024 was primarily influenced by the increase in the indices of Transport at 0.8 percent from (2.5) percent, Housing, water, electricity, gas and other fuels 6.9 percent from 6.0 percent and Restaurants and Accommodation Services at 6.1 percent from 5.6 percent.

Moreover, higher inflation rates during the month were recorded in the following commodity groups:

1)    Alcoholic beverages and tobacco, 7.5 percent from 7.3 percent;
2)    Clothing and footwear, 1.6 percent from 1.4 percent;
3)    Furnishings, household equipment, and routine household maintenance, 3.2 percent from 3.1 percent;
4)    Health, 3.9 percent from 3.8 percent;
5)    Recreation, sport and culture, 6.4 percent 6.3 percent; and
6)    Personal Care, and Miscellaneous Goods and Services at 2.7 percent from 2.6 percent.

In contrast, lower inflation rate during the month was observed in the index of Food and Non-alcoholic Beverages at 0.6 percent from 1.3 percent.

Meanwhile, the following commodity groups retained their previous month’s inflation rate:

1)    Information and communication, (0.8) percent;
2)    Financial Services, (0.4) percent; and
3)    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 December 2024 overall inflation:

1)    Housing, water, electricity, gas and other fuels with 45.9 percent share or 1.19 percentage point; 
2)    Restaurants and Accommodation Services with 15.2 percent share or 0.39 percentage point; and
3)    Food and non-alcoholic beverages with 12.0 percent share or 0.31 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 0.3 percent in December 2024 from 1.2 percent in the previous month. Meanwhile, food inflation in December 2023 was higher at 8.3 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 (1.9) percent in December 2024 from 1.1 percent in November 2024, Vegetables, tubers, plantains, cooking bananas and pulses (ND) at 1.8 percent from 4.7 percent in the previous month and Milk, other dairy products and eggs at 2.6 percent from 3.5 percent in the previous month.

Also contributing to the overall food inflation in Zamboanga Peninsula during the month of December was the lower increment in the groups Meat and other parts of slaughtered land animals (ND) at 1.9 percent from 2.2 percent in the previous month and Ready-made food and other food products n.e.c at 3.2 percent from 4.0 percent in the previous month.

Contrarily, the following food groups were observed to have higher increments during the month:

1)    Fish and other seafood (ND), (1.5) percent from (4.2) percent;
2)    Oils and fats (ND), (0.8) percent from (1.2) percent; 
3)    Fruits and nuts, 16.5 percent from 14.7 percent in the previous month; and
4)    Sugar, and confectionery and desserts at (2.0) percent from (3.1) percent.

2.2 Main Contributors to the Food Inflation.

Food Inflation contributed 12.0 percent share or 0.31 percentage points to the December 2024 Headline Inflation. Among the food groups, the main contributors to the overall inflation during the month were the following:

1)    Fruits and nuts (ND) with 565.4 percent share or 1.70 percentage points;
2)    Meat and other parts of slaughtered land animals (ND) with 211.5 percent share or 0.63 percentage points; and
3)    Milk, other dairy products and eggs with 171.3 percent share or 0.51 percentage point.

Among the provinces in the region, Zamboanga City had the highest inflation at 
4.1 percent, followed by City of Isabela at 3.5 percent, Zamboanga Sibugay at 
2.8 percent and Zamboanga del Norte with 2.0 percent inflation. On the other hand, Zamboanga del Sur recorded the lowest inflation which stood at 0.4 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

GBS/ajdc