YEAR-ON-YEAR INFLATION RATES

The Inflation Rate for the Bottom 30% Income Households in SOCCSKSARGEN Region eased to 8.1% in February 2023 from 8.2% in January 2023. From 2019 to 2022, the annual average Inflation Rate for the Bottom 30% Households in the region exhibited an uptrend from 1.0% in 2019 to 5.8% in 2022. The lowest monthly inflation was recorded in September 2019 at -2.0% while the highest was recorded in December 2022 at 7.8%.

The inflation rate for the bottom 30% income households in the province of Sultan Kudarat slowed down to 7.5 percent in February 2023, from 8.8 percent in January 2023. This is lower than the national Inflation rate of 9.7 percent and regional Inflation rate of 8.1 percent.

The Headline inflation rate or the year-on-year change on the prices of goods and services in the market basket in the province of Sultan Kudarat slowed down to 6.7 percent in February 2023, from 7.3 percent in January 2023. This is lower than the national Inflation rate of 8.6 percent and regional Inflation rate of 7.4 percent. The average inflation rate for the first two months of the year stood to 7.0 percent.