Tuesday, August 27, 2019
Davao Region’s inflation remains low at 2.1 percent in July 2019. This is the lowest inflation recorded in Davao region for this year. Meanwhile, purchasing power of peso (PPP) stayed at 83 centavos.
Inflation rates per province also went down, with Davao Del Sur and Davao Del Norte having the highest inflation at 2.3 percent each, followed by Compostela Valley at 1.6 percent. Davao Oriental retained the lowest inflation in the region at 1.1 percent (see Table 1).
The slowdown of inflation was primarily driven by slower annual increase in the indices of Housing, Water, Electricity, Gas, and Other Fuels at 3.4 percent; and Food and Non-Alcoholic Beverages at 0.9 percent (see Table 2). Also contributing to the deceleration of the inflation were the slower annual increments in the indices of the following commodity groups:
• Health, 5.7%;
• Recreation and Culture, 5.3%;
• Furnishing, Household Equipment and Routine Maintenance of the House, 5.0;
• Restaurant and Miscellaneous
• Goods and Services, 3.5;
• Clothing and Footwear, 2.9%;
• Communication, 1.0%; and
• Transport, 0.1%.
However, Alcoholic Beverages and Tobacco, and Education were reported with a higher inflation rate at 3.7 percent and 3.2 percent (see Table 2).
Selected food items that showed slower annual increase were Sugar, Jam, Honey, Chocolate and Confectionery (-6.2% from -0.3%); Vegetables (1.2% from 7.0%); Food Products, N.E.C. (10.0% from 12.0%); Fish (9.8% from 11.7%); Rice (-7.5% from -5.9%); Bread and Cereals (-5.8 from -4.8%) and Other Cereals, Flour, Cereal Preparation, Bread, Pasta and Other Bakery Products (4.2% from 4.8%) (see Table 3).
On the other hand, significant increase on selected food items was recorded in Corn at negative 12.6 percent from negative 14.8 percent in the previous month. Other food items also displayed an increase in their indices, such as Fruits; Milk, Cheese and Egg; and Meat while Oils and Fats retained its previous month’s annual rate.
Among the 17 regions, MIMAROPA has highest inflation at 4.9 percent while, Central Visayas holds the lowest inflation at 1.1 percent. Moreover, most of the regions displayed lower rates than the national inflation except for Central Luzon at 3.2 percent; SOCCSKSARGEN 3.1 percent; Northern Mindanao at 3.0; Bicol Region and Ilocos Region at 2.8 percent; and Western Visayas at 2.7 percent (see Table 4).
In Mindanao, inflation in all regions had decelerated except for Region 9 - Zamboanga Peninsula. Among the 6 regions, Region 12 - SOCCSKSARGEN hit the highest inflation at 3.1 percent while Zamboanga Peninsula remained to be the region with the lowest inflation at 1.4 percent (see Table 5).
Approved for Release:
PEPITO D. AMOYEN
(Chief Statistical Specialist)