Monday, September 17, 2018
Davao Region’s inflation rate further accelerated to 7.1 percent in August 2018 which remained higher than the national inflation rate at 6.4 percent. In the previous month, the region’s inflation was posted at 6.2 percent and in August 2017, 3.1 percent.
Meanwhile, all provinces in the region showed an increase rate in August 2018. It was highest in Compostela Valley and lowest in Davao Oriental while Davao del Norte and Davao del Sur posted the same with the regional rate. Further, purchasing power of peso in the region was at 84 centavos.
Moreover, Table 3 showed the year-on-year consumer price indices and inflation rates by commodity group. Most of the items displayed an increase annual rate such as:
• Food and Non-Alcoholic Beverages, 8.1%;
• Recreation and Culture, 4.2%;
• Health, 6.5%;
• Alcoholic Beverages and Tobacco, 16.0%;
• Communication, 1.6%;
• Housing, Water, Electricity, Gas, and Other Fuels, 7.0%; and
• Furnishing, Household Equipment and Routine Maintenance of the House, 4.1%.
Transport, and Clothing and Footwear displayed slower annual rates while Education, and Restaurant and Miscellaneous Goods and Services retained its previous month’s annual growth rate.
Lastly, among the selected food items, higher annual increments were shown on fish (14.4%), rice (7.6%), meat (9.4%), bread and cereals (6.7%), vegetables (5.6%), and other cereals, flour, cereal preparation, bread, pasta and other bakery products (3.3%), while fruits (0.9%), oils and fats (3.5%), and food products n.e.c (5.5%) retained its previous rate. The rest of the commodities moved slower growth rate.
RUBEN D. ABARO, JR.