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 slowed down to 2.6 percent in September 2024 compared to 4.2 percent recorded in August 2024. This brings the provincial average inflation from January to September 2024 at 4.6 percent. In September 2023, the inflation rate was higher at 6.1 percent. (Table 1, Table 2, and Figure 1) 
 

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

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

The downtrend in the overall inflation in September 2024 was primarily influenced by the lower annual growth rate in the index of Food and Non-Alcoholic Beverages at 3.8 percent inflation compared to 5.8 percent in August 2024. This was followed by, Transport at -3.6 percent deflation compared to -1.2 percent deflation in August 2024 and,  Housing, Water, Electricity, Gas and Other Fuels at 4.8 percent compared to 6.0 percent in August 2024.

In addition, lower annual increments were also noted in the indices of the following commodity groups during the month compared to August 2024 annual rates:

    a. Alcoholic Beverages and Tobacco at 0.7 percent from 0.9 percent;
    b. Clothing and Footwear at 0.9 Percent from 2.0 percent;
    c. Furnishings, Household Equipment and Routine Household Maintenance at 2.8 percent from        3.3 percent;
    d. Health at 1.3 percent from 1.4 percent;
    e. Recreation, sport and Culture at 3.1 percent from 3.4 percent;
    f. Education Services at 0.7 percent from to 0.8 percent;
    g. Restaurants and Accommodation Services at 3.8 percent from 4.1 percent; and 
    h. Personal Care, and Miscellaneous Goods and Services, at 1.3 percent from 1.5 percent.

Meanwhile, the indices of the rest of the commodity groups retained their respective previous month’s inflation rate (Table 3)

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

Food Inflation, likewise, slowed down to 3.9 percent inflation compared to 6.3 percent reported in August 2024, in September 2023 food inflation was higher at 10.3 percent.

The deceleration of food inflation in September 2024 were contributed by the lower annual growth rate of the following food groups.

    a. Cereals, at 13.8 percent compared to 21.0 percent,
    b. Flour, Bread and Other Bakery Products, Pasta Products, and Other Cereals, at 2.9 percent                 compared to 3.5 percent,
    c. Oils and Fats at 7.3 percent compared to 8.0 percent, and 
    d. Ready-made food and other food products n.e.c. at 3.4 percent compared to 5.0 percent.

In contrast, three food groups showed higher inflation during the month.
    a. Meat and other parts of slaughtered land animals at 2.4 percent compared to 1.8 percent,
    b. Milk, other dairy products and eggs, at 7.7 percent compared to 3.7 percent, 
    c. Fruits and Nuts at 11.5 percent compared to 7.1 percent.

Meanwhile, three food groups showed deflation during the month. 
    a) Fish and other seafood at -1.2 percent deflation,
    b) Vegetables, tubers, plantains, cooking bananas and pulses, at -17.1 percent deflation, and
    c) Sugar, confectionery, and desserts at -6.2 percent deflation. (Table 4)

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