Tuesday, April 30, 2019
Inflation rate in Davao del Norte moved at a slower pace in March 2019, posting a rate of 2.0 percent. This is even lower than the 3.1 percent rate recorded on the previous month and the 5.0 percent rate in March 2018.
The average retail price of the fixed basket of consumer goods and services in the province hiked up from 117.6 in March 2018 to 119.9 in the current month, registering an increase of 2.0 percent. All indices, excluding education, posted higher annual gains.
The biggest uptrends were observed in the indices of health and alcoholic beverages and tobacco, displaying 8.8 percent (117.1 to 127.4) and 8.2 percent (158.2 to 171.2), respectively. Increase in the price situation in the commodity groups of transport, clothing and footwear, recreation and culture, restaurant and miscellaneous goods and services, housing, water, electricity, gas and other fuels, furnishings, household equipment and routine maintenance of the house, food and non-alcoholic beverages, and communication were also observed.
On the other hand, the index of education decreased by 7.0 percent (127.2 to 118.3).
The month-on-month headline inflation rate in Davao del Norte dropped by 0.8 percent in March 2019 (120.8 to 119.9).
Notable gains were observed in the indices of transport (103.4 to 105.5), furnishings, household equipment and routine maintenance of the house (118.7 to 119.5), health (126.9 to 127.4), and restaurant and miscellaneous goods and services (125.9 to 126.0), increasing by 2.0 percent, 0.7 percent, 0.4 percent and 0.1 percent, respectively.
On the contrary, downtrends were exhibited in the indices of food and non-alcoholic beverages (119.5 to 117.2) and housing, water, electricity, gas and other fuels (123.8 to 123.6), decreasing by 1.9 percent and 0.2 percent, respectively.
No changes were observed in all the other indices. Consequently, the purchasing power of peso in Davao del Norte remained at 0.83 in March 2019.
Consumer Price Index (CPI)
An indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by households relative to a base year.
Components of the CPI
A sample of the the variety of goods and services commonly consumed by an average Filipino household to represent the price behavior of all goods and services brought by consumer.
A value attached to a commodity or group of commodities depending on the magnitude of its contribution to the index.
A reference date at which the index is equal to 100. Base year is 2012.
Establishments where prices of commodities are quoted.
The Philippines by region and province and for NCR.
Laspeyre’s formula: fixed base year and weights.
The annual rate of change or the year-on-year changes in the average retail prices expressed in percent.
Purchasing Power of the Peso (PPP)
The measure of how much the peso in the base period is worth in the current period.
(SGD.) PEPITO D. AMOYEN
Chief Statistical Specialist