YEAR-ON-YEAR INFLATION RATES

The inflation or the annual rate of change on the prices of goods and services in the market basket for the bottom 30% income households or the low income group in Sarangani Province increased to 6.9 percent in April 2024 from last month’s inflation at 5.6 percent. This was higher than the regional and national levels at 5.2 percent and 5.8 percent, respectively. However, this was slightly lower by 1.1 percentage points from a year ago of the same month at 8.0 percent.
 

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

a)    Food and Non-Alcoholic Beverages, from 8.0% to 10.3%;
b)    Transport, from 4.3% to 7.3%;
c)    Housing, Water, Electricity, Gas and Other Fuels, from -1.2% to -1.0%;
d)    Personal Care, and Miscellaneous Goods and Services, from 4.3% to 4.8%;
e)    Recreation, sport, and culture, from 6.2% to 7.7%
f)    Health, from 1.6% to 2.2%

Food and Non-Alcoholic Beverages contributed 85.2% to this uptrend, while Transport at 10.5%, and Housing, Water, Electricity, Gas and Other Fuels at 1.7%, respectively.

On the contrary, Alcoholic Beverages and Tobacco and Furnishings, Household Equipment and Routine Household Maintenance decreased its inflation this April 2024, from 9.0% to 4.8% and 5.0% to 3.9% respectively.

The rest of the commodity groups: Clothing and Footwear, Information and Communication, Education Services, Restaurants and Accommodation Services and Financial Services maintained their previous month’s inflation rates (Table B).
 

Food and Non-Alcoholic Beverages increased from 8.0 percent in March 2024 to 10.3 percent in April 2024.

The commodity groups that contributed to the increase in Food and Non-Alcoholic Beverages were: Meat and other parts of slaughtered land animals at -0.5 percent from -2.0 percent; Fish and other seafood at -1.0 percent from -3.5 percent; Fruits and nuts at 22.7 percent from 13.2 percent; Vegetables, tubers, plantains, cooking bananas and pulses at 14.6 percent from -4.5 percent; Sugar, confectionery and desserts at -5.9 percent from -6.8 and Ready-made food and other food products at 9.7 percent from 8.3 percent. 

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