YEAR-ON-YEAR INFLATION RATES

The headline inflation or the annual rate of change on the prices of goods and services in the market basket in General Santos City increased to 4.3 percent in May 2024 from last month’s inflation at 3.1 percent. This was lower than the regional level at 4.5 percent and higher than the national level at 3.9 percent. This was also higher by 0.5 percentage points from a year ago of the same month at 3.8 percent. The average inflation or the year-to-date inflation of the city was recorded at 3.3 percent.

The main contributors to the city’s uptrend inflation for the month of May 2024 are as follows:

a)    Housing, Water, Electricity, Gas and Other Fuels, from -0.8% to 4.3%;
b)    Food and Non-Alcoholic Beverages, from 6.0% to 6.6%;
c)    Transport, from 1.6% to 1.8%
d)    Personal Care, and Miscellaneous Goods and Services, from 2.8% to 2.9%;
e)    Clothing and Footwear, from 1.7% to 1.8%;

Housing, Water, Electricity, Gas and Other Fuels contributed 78.7% to this uptrend; while Food and Non-Alcoholic Beverages at 19.0%, and Transport at 1.7%.

On the contrary, Alcoholic Beverages and Tobacco group decreases its inflation this May 2024, from 4.8% to 3.9%; Health from 2.0% to 1.8% and Recreation, Sport and Culture from 2.3% to 2.1%.

The rest of the commodity groups: Furnishings, Household Equipment and Routine Household Maintenance; Information and Communication; Education Services; Restaurants and Accommodation Services and Financial Services maintained their previous month’s inflation rates (Table B).
 

Housing, Water, Electricity, Gas and Other Fuels increased from -0.8 percent in April 2024 to 4.3 percent in May 2024.

The commodity group that contributed to the increase in Housing, Water, Electricity, Gas and Other Fuels was Electricity at 10.9 percent from -9.2 percent.

Please see Table C for the year-on-year inflation on Housing, Water, Electricity, Gas and Other Fuels group in percent.
 

Food and Non-Alcoholic Beverages increased from 6.0 percent in April 2024 to 6.6 percent in May 2024.

The commodity groups that contributed to the increase in Food and Non-Alcoholic Beverages were Vegetables, tubers, plantains, cooking bananas and pulses at 12.4 percent from 4.3 percent; Fish and other seafood at 8.1 percent from 7.1 percent; Fruits and Nuts at 4.6 percent from 0.3 percent; Meat and other parts of slaughtered land animals at -0.2 percent from -1.0 percent; Ready-made food and other food products at 6.0 percent from 3.6 percent; Oils and Fats at -1.1 percent from -3.4 percent; Sugar, confectionery and desserts at -3.2 percent from -3.8 percent and Milk, other dairy products and eggs at 3.0 percent from 2.8 percent.

Please see Table D for the year-on-year inflation on Food and Non-Alcoholic Beverages group in percent.