Tuesday, February 11, 2020
The inflation rate in Davao region jumps at 2.2 percent in January 2020 from the 2.0 percent of the previous month. This is the highest inflation recorded since June 2019 (see figure 1). However, the reported inflation rate is lower as compared to its inflation rate in the previous year (4.7%). The purchasing power of peso (PPP) stayed at 82 centavos (see table 1).
As a result, the inflation rate per province also increased except for Davao del Sur which has a 1.7 percent inflation. Among the provinces, Davao de Oro (formerly Compostela Valley) obtain the highest inflation at 3.0 percent followed by Davao del Norte (2.7%) and Davao Oriental (2.3%) which also have higher inflation as compared to the region’s inflation.
The increasing trend of inflation in January was attributed primarily to the 3.0 percent annual increase in the index of Housing, Water, Electricity, Gas, and Other Fuels from a 1.9 percent rate in December. Higher annual increases were also recorded in indices of the following commodity groups:
- Alcoholic Beverages and Tobacco, 13.8%;
- Transport, 3.7%; and
- Clothing and Footwear, 3.6% (see table 2).
Meanwhile, commodity groups such as Health; Restaurant and Miscellaneous Goods and Services; and Furnishing, Household Equipment and Routine Maintenance of the House showed a slower annual decrease in their indices at 4.5, 3.5 and 4.2 percent, respectively (see table 2).
On the other hand, Food and Non-Alcoholic Beverages, 0.2%; Recreation and Culture, 3.0%; Education, 3.1%; and Communication, 0.0% keep its previous month’s annual rate. (see Table 2).
A significant increase in the annual rate of selected food items was noted in Food Products, N.E.C (10.6% from 9.2); Rice (-9.2% from -10.0%); and Meat (2.3% from 1.6%). In addition, the following selected items registered higher annual rates in January 2020:
- Bread and Cereals, -6.6 percent;
- Corn, -10.3 percent;
- Vegetables, 4.9 percent;
- Milk, Cheese, and Egg, 2.7 percent;
- Sugar, Jam, Honey, Chocolate and Confectionery, -6.9 percent; and
- Oils and Fats, 2.2 percent.
On the other hand, a significant annual decrease was noted in the index of Fish (4.5% from 7.5%) while selected food items such as Fruits (14.5% from 15.9%) and Other Cereals, Flour, Cereal Preparation, Bread, Pasta and Other Bakery Products (4.8% from 4.9%) presented a slight decrease on their annual rate (see table 3).
Among the 17 administrative regions, Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) remained to be the region with the lowest inflation at 1.0 percent and the highest inflation was still reported in Bicol region (3.9%). Moreover, regions with lower rates than the national inflation were NCR, CAR, Ilocos Region; Cagayan Valley; Central and Eastern Visayas; Northern Mindanao; Davao Region; SOCCSKSARGEN; Caraga Region; and BARMM while regions with higher inflation were Central Luzon, CALABARZON, MIMAROPA, Bicol Region, Western Visayas, and Zamboanga Peninsula (see Table 4).
BARMM still has the lowest inflation among the 6 regions in Mindanao at 1.0 percent while Zamboanga Peninsula got the highest inflation at 3.5 percent from the 1.2 percent in December 2019 (see Table 5).
Approved for released:
PEPITO D. AMOYEN
(Chief Statistical Specialist)
PSA Regional Statistical Services Office XI