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.

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 General Santos City increased to 4.3 percent in April 2024 from last month’s inflation at 3.9 percent. This was lower than the regional and national levels at 5.8 percent and 5.2 percent, respectively. This was also lower by 2.8 percentage points from a year ago of the same month at 7.1 percent. The average inflation or the year-to-date inflation of the city was recorded at 4.3 percent.

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 headline inflation or the annual rate of change on the prices of goods and services in the market basket in General Santos City increased to 3.1 percent in April 2024 from last month’s inflation at 2.9 percent. This was lower than the regional level at 5.0 percent and national level at 3.8 percent. This was also lower by 2.6 percentage points from a year ago of the same month at 5.7 percent. The average inflation or the year-to-date inflation of the city was recorded at 3.1 percent.

The headline inflation in Sarangani quickened to 5.6 percent in April 2024 from 4.6 percent in March 2024. This is higher than the regional and national levels at 5.0 percent and 3.8 percent, respectively. In April of the previous year, inflation was higher at 6.4 percent. Inflation for the first four months of the year averaged at 5.0 percent. The acceleration in the province’s inflation rate in April 2024 was primarily due to the higher annual growths in the index of food and non-alcoholic beverages restaurants at 9.4 percent from 7.3 percent inflation in March 2024. This was followed by transport at 5.1 percent from 2.7 percent and, personal care, and miscellaneous goods and services at 4.2 percent from 3.6 percent in March 2024.

SOCCSKSARGEN’s Gross capital formation and Household final consumption expenditure post highest growths SOCCSKSARGEN’s Gross capital formation posted the highest growth among the expenditure items with 6.5 percent. It was followed by Household final consumption expenditure with 5.5 percent, and Government final consumption expenditure with 3.4 percent. Meanwhile, Exports of goods and services and Imports of goods and services experienced contractions of 18.5 percent and 4.5 percent, respectively.

SOCCSKSARGEN’s economy expands by 3.5 percent in 2023 The economy of SOCCSKSARGEN expanded by 3.5 percent in 2023, a slowdown from the 6.6 percent acceleration in 2022. The highest growth was recorded in Accommodation and food service activities with 17.2 percent. On the other hand, Manufacturing and Agriculture, forestry, and fishing recorded contractions of 5.9 percent and 2.7 percent, respectively.

The Philippine Statistics Authority (PSA) XII announces the conduct of the News Conference on the 2023 Economic Performance of SOCCSKSARGEN Region on 25 April 2023 at 10:00 AM, in Grand Summit, General Santos City.

The inflation rate of South Cotabato’s bottom 30% income households decreased to 6.9 percent in March 2024 from 7.2 percent in February 2024

The headline inflation or the annual rate of change on the prices of goods and services in the market basket of South Cotabato decreased to 5.7 percent in March 2024.