Wednesday, November 21, 2018
Davao Region’s inflation decelerated to 7.8% in October 2018. It was recorded at 7.9% in the previous month and 4.8% in the same month of last year. Meanwhile, among provinces, Davao del Sur displayed the highest inflation at 8.4% and lowest in Davao Oriental at 6.5 percent (see Table 1). Also, purchasing power of peso in the region was reported at 82 centavos.
The slow movement of region’s annual growth was observed on the indices under Food and Non-alcoholic beverages which was at 8.3% from 9.1% in the previous month. Such that, slower growth rates were reported on selected food items like fruits (-7.5%), corn (-3.9%), breads and cereals (7.3%), and rice at 9.8 percent (see Table 3). Moreover, alcoholic beverages and tobacco, and recreation and culture also decelerated to 15.5% and 5.1%, respectively, from 16.4% and 5.5% in September 2018 (see Table 2).
On the other hand, annual rates were higher in the indices of the following commodity groups:
• Transport, 10.2%;
• Housing, Water, Electricity, Gas, and Other Fuels, 9.1%;
• Health, 7.2%
• Furnishing, Household Equipment and Routine Maintenance of the House, 6.0%;
• Restaurant and Miscellaneous Goods and Services, 5.9%; and
• Clothing and Footwear, 4.6%.
Communication and Education retained its previous month’s rates at 2.3% and -1.4%, respectively.
Among 17 regions, inflation was highest in Bicol Region at 9.9% and lowest in Central Luzon at 4.4 percent. Regions I to II, IV-B to VI, VIII to XII, and ARMM showed higher rates than the national inflation which was at 6.7 percent.
Currently in Mindanao, inflation slightly went up in Caraga and Northern Mindanao by 6.2% and 7.6%, respectively, from 6.1% and 6.9% in the previous month. Furthermore, slower growth rates were observed from the rest of Mindanao regions, however, ARMM remained with the highest inflation at 8.3 percent.
RUBEN D. ABARO, JR.