Table 1. Year-on-Year Headline Inflation Rates, All Items in Percent
(2018=100)

YEAR-ON-YEAR INFLATION RATES

The headline inflation rate or the year-on-year change in the prices of goods and services commonly purchased by people in the province of Sultan Kudarat continued to slow down to 3.8 percent in January 2024 from 6.3 percent in December 2023. In January 2023, the inflation rate was higher at 7.3 percent. (Table 1, Table 2, and Figure 1) 

Figure 1: Inflation Rate in Sultan Kudarat Province, All Items
January 2023 to January 2024
(2018=100) 

Table 2. Year-on-Year Inflation Rates, Sultan Kudarat Province in Percent
January 2019 – January 2024
(2018=100)

The downtrend in the overall inflation in January 2024 was primarily influenced by the lower annual growth rate in the index of Food and Non-Alcoholic Beverages at 5.4 percent from 9.7 percent in December 2023. This was followed by Transport at   -2.5 percent deflation from 0.2 percent in December 2023, and Housing, Water, Electricity, Gas and Other Fuels at -1.5 percent deflation from -0.7 percent deflation in December 2023.

In addition, lower annual increases were noted in the indices of almost all commodity groups during the month:

a.    Alcoholic Beverages and Tobacco, at 7.8 percent from 9.0 percent;
b.    Clothing and Footwear, 4.8 percent from 5.5 percent;
c.    Furnishings, Household Equipment and Routine Household Maintenance, at 4.7 percent from 5.3 percent;
d.    Health, at 4.0 percent from 4.5 percent;
e.    Recreation, Sport and Culture, at 8.5 percent from 8.9 percent;
f.    Restaurants and Accommodation Services, at 10.0 percent from 11.0 percent;
g.    Financial Services, at -0.4 percent from 0.0 percent; and
h.    Personal Care, and Miscellaneous Goods and Services, 3.3 percent from 3.7 percent.
 

Meanwhile, Information and Communication, and Education Services retained their respective previous month’s annual rates at 0.4 percent and 1.8 percent respectively. (Table 3)

Table 3. Year-on-Year Inflation by Commodity Groups
Sultan Kudarat Province in Percent 
January 2023, December 2023 and January 2024 (2018=100)

Food groups posted lower inflation at 5.5 percent in January 2024, compared to 10.1 percent in December 2023. In January 2023, food inflation was higher at 9.5 percent. The deceleration of food inflation in January 2024 was primarily influenced by the lower annual growth rate of Vegetables, Tubers, Plantains, Cooking Bananas and Pulses at -21.4 percent deflation from -4.4 percent deflation in December 2023. This was followed by Meat and Other Parts of Slaughtered Land Animals at 0.4 percent from 6.6 percent in December 2023, and Cereals and Cereals Products at 23.6 percent during the month from 24.9 percent in December 2023. 

In addition, the following food groups contributed to the downward trend of food inflation during the month.

a.    Fish and other Seafood at -5.9 percent from -4.4 percent;
b.    Milk, Other Dairy Products and Eggs at 10.5 percent from 15.3 percent;
c.    Fruits and Nuts at 10.6 percent from 13.4 percent;
d.    Sugar, Confectionery and Desserts at 3.4 percent from 5.0 percent; and
e.    Ready-made food and other food products n.e.c. at 3.3 percent from 4.4 percent.  (Table 4)

Table 4. Year-on-Year Inflation on Food Items 
Sultan Kudarat Province in Percent 
January 2023, December 2023 and January 2024 
(2018=100)

Approved for Release:

HERLITA G. CARAAN
Chief Statistical Specialist

For inquiries, please contact:

MARIA ANNA LIZA S. MOGAN
Statistical Analyst
Provincial Focal Person