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 of South Cotabato increased to 6.3 percent in April 2024. It was higher by 0.1 percentage points from the same month last year at 6.2 percent and 0.6 percentage points higher from March 2024 at 5.7 percent. South Cotabato’s inflation was higher compared to the regional and the national estimates of 5.0 percent and 6.3 percent, respectively. The province average inflation stood at 5.7 percent (Figure 1).

The major contributors to the uptrend in the province’s inflation rate for the month of April 2024 were Food and Non-Alcoholic Beverages at 8.7 percent and Transport at 0.9 percent, and Health at 3.1 percent.
Higher annual increments were noted in the indices of the following commodity groups:

a.    Food and Non-Alcoholic Beverages, from 6.9% to 8.7% 
b.    Health, from 2.7% to 3.1%
c.    Transport, from -0.2% to 0.9

Major commodity group which registered downtrend inflation were the following:
a.    Alcoholic Beverages and Tobacco, from 3.5% to 2.5%
b.    Clothing and Footwear, from 2.5% to 1.9%
c.    Furnishings, Household Equipment and Routine Household Maintenance, from 3.1% to 1.9%
d.    Recreation, Sport and Culture, from 5.1% to 4.5%
e.    Personal Care, and Miscellaneous Goods and Services, from 4.4% to 3.3%

The rest of the commodity groups: Housing, Water, Electricity, Gas and Other Fuels (12.7%), Information and Communication (0.0%), Education Services (4.7%), Restaurants and Accommodation Services (1.3%) and Financial Services (-0.1%) maintained their previous month’s inflation rates (Table 2).

Meanwhile, inflation for food increased to 9.2 percent in April 2024 from 7.2 percent in March 2024. In April 2023, food inflation was lower at 6.8 percent (Table 3).

The top three food groups that contributed to the increase in food inflation were Fish and other seafood at 5.1%, Vegetables, tubers, plantains, cooking bananas and pulses at 8.0 percent, and Meat and other parts of slaughtered land animals at -1.9%.

Approved for Release:

MA. EILEEN A. BERDEPRADO
Chief Statistical Specialist 
OIC- Provincial Statistics Officer
Philippine Statistics Authority - South Cotabato

For inquiries, please contact:

HAZELLE KAYE G. ABARO
Statistical Analyst
Philippine Statistics Authority - South Cotabato 
Telephone Number (083) 877-1905