Wednesday, March 18, 2020
Davao Region’s inflation continued to rose at 2.4 percent in February 2020, which was 0.2 percent higher compared to January 2020. The recorded inflation in February 2020 was relatively lower against the 4.5 percent inflation in the same month of last year. Meanwhile,the purchasing power of peso (PPP) decreased to 81 centavos (see Table 1).
By province, Davao del Norte and Davao de Oro had the highest inflation rate at 2.6 percent a piece. This was followed by Davao del Sur at 2.5 percent. Meanwhile, Davao Oriental has the lowest inflation at 1.0 percent, from a 2.3 percent inflation rate in the previous month.
The acceleration of inflation in February was mainly attributed by the annual increase in the indices for Food and Non-Alcoholic Beverages at 1.1 percent; Alcoholic Beverages and Tobacco (14.4 percent); and Communication (0.7 percent).
On the contrary, commodity groups such as Transport; and Housing, Water, Electricity, Gas, and Other Fuels showed a slower annual increase in their indices at 2.4 percent and 2.2 percent, respectively.
Meanwhile, Education retained its previous month’s annual rate at 3.1 percent. (see Table 2).
By food item, higher annual growth rates were posted in the indices for Fish (10.6 percent); Sugar, Jam, Honey, Chocolate and Confectionery (-3.7 percent); and Fruits (15.1 percent) (see Table 3).
On the other hand, annual increments slowed down in the indices of Vegetables at -1.1 percent; Food Products, N.E.C. at 10.3 percent; Corn at -10.6 percent.
Among the 17 administrative regions, Region VIII (Eastern Visayas) had the lowest inflation at 1.9 percent while highest inflation was reported in Bicol region (3.6 percent). In Mindanao, BARMM still has the lowest inflation at 2.1 percent while Zamboanga Peninsula got the highest inflation at 3.0 percent from the 3.5 percent in January 2020 (see Table 5).
Approved for released:
PEPITO D. AMOYEN
(Chief Statiastical Specialist)
PSA Regional Statistical Services Office XI