YEAR-ON-YEAR INFLATION RATES

The inflation or overall inflation on the prices of goods and services in the market basket for the bottom 30% income households or the low-income group in General Santos City eased to 0.8 percent inflation in January 2025 from last month’s inflation of 1.1 percent. This was equal to the regional level and lower than the national level at 2.4 percent. In January 2024, the inflation rate was posted at 4.0 percent. (Table A and Figure 1)
 

The downtrend in General Santos City’s inflation for the bottom 30% income households in January 2025 was primarily brought about by lower year-on-year growth rates in the following commodity groups:

a) Housing, water, electricity, gas and other fuels, 0.2 percent from 1.5 percent;
b) Restaurants and accommodation services, -0.9 percent from zero inflation; and
c) Furnishings, household equipment and routine household maintenance, -0.2 percent from -0.1 percent.

On the contrary, lower annual rates were observed in the indices of the following commodity groups during the month:

a) Alcoholic beverages and tobacco, 2.9 percent from 2.4 percent;
b) Clothing and footwear, 1.2 percent from 0.9 percent; and
c) Transport, 0.1 percent from -0.2 percent; and
d) Recreation, sport and culture, 3.0 percent from 2.2 percent. (Table B)

The rest of the commodity groups maintained their previous month’s inflation rates as follows:

a) Food and non-alcoholic beverages, at 1.0 percent
b) Health, at 0.1 percent;
c) Information and communication, at zero inflation;
d) Education services, at 8.6 percent;
e) Financial Services, at zero inflation; and
f) Personal care and miscellaneous goods and services, at 1.5 percent. (Table B)

 

The major contributor to the downtrend in the inflation of housing, water, electricity, gas and other fuels was electricity at -4.0 percent in January 2025 from 0.9 percent in the previous month with 82.7 percent share. This was followed by solid fuels at 4.0 percent in January 2025 from 5.3 percent inflation in the previous month. Gas also contributed to the downtrend with 3.6 percent inflation during the month from 4.8 percent in November 2024. The downtrend in the was also noted in security equipment and materials for the maintenance and repair of the dwelling at 0.6 percent from 1.1 percent in the previous month. (Table C)

Meanwhile, the food inflation in General Santos City for the bottom 30% income households increased to 0.9 percent in January 2025 from 0.8 percent in December 2024. The city’s acceleration of food inflation for the bottom 30% income households in January 2025 was due to the higher annual increment in the index of vegetables, tubers, plantains, cooking bananas and pulses with 7.5 percent inflation from 1.0 percent in the previous month. This was followed by meat and other parts of slaughtered land animals with 6.7 percent inflation during the month from 2.3 percent in Decemberr 2024. Higher annual increase was also noted in milk, other dairy products and eggs at 5.7 percent during the month from 2.1 percent in December 2024.

Moreover, higher annual increase were also observed in the following index during the month:

a) Flour, bread and other bakery products, pasta products, and other cereals, 0.9 percent from 0.6 percent; and
b) Oil and fats, -1.6 percent from -1.7 percent.

In contrast, lower inflation rates during the month were recorded in the indices of the following:

a) Rice, -4.2 percent from -3.0 percent;
b) Corn, 3.9 percent from 8.4 percent;
c) Fish and other seafood, 1.3 percent from 4.6 percent; 
d) Fruits and nuts, 4.0 percent from 6.5 percent;
e) Sugar, confectionary and desserts, -3.5 percent from -3.4 percent.
f) Ready-made food and other food products n.e.c., 4.4 percent from 5.6 percent. (Table D)