Regional Inflation Slows to 6.1% in December 2021

Reference Number: 

2022-006

Release Date: 

Friday, January 28, 2022
 
The year-on-year regional inflation of Davao Region eased to 6.1 percent in December 2021, from 6.2 percent in November 2021. It was substantially higher as compared from the same month of the previous year at 1.3 percent. On the other hand, the Purchasing Power of the Peso (PPP), which measures the real value of the peso in a given period relative to a chosen reference period, remained at 76 centavos (see Table 1). 
 
The downward trend of inflation in the region was mainly attributed by the slower annual increment in the index of Transport at 5.5 percent in December 2021, from 9.6 percent in November 2021 (see Table 2). Moreover, annual growth rates also slowed down in the following commodity groups: 
 
Housing, Water, Electricity, Gas, and Other Fuels, at 5.7 percent from 6.5 percent;
Alcoholic Beverages and Tobacco, at 6.7 percent from 6.9 percent; 
Furnishing, Household Equipment and Routine Maintenance of the House, at 4.1 percent from 4.2 percent; and
Restaurant and Miscellaneous Goods and Services, at 3.6 percent from 3.7 percent.
 
On the other hand, higher inflation was recorded in the commodity group of Food and Non-Alcoholic Beverages, at 8.2 percent from 7.5 percent.
 
Meanwhile, the following indices stayed from November 2021 to December 2021 in the commodity groups of Recreation and Culture at 1.3 percent, and Communication at 1.1 percent.
 
 
Among selected food items, the commodity group for Corn was reported with the highest annual increment at 25.7 percent in December 2021, from 23.4 percent in November 2021. Similarly, other commodity groups with higher annual increments were noted in the indices of Fruits, at 3.8 percent from 0.8 percent; Fish, at 11.5 percent from 8.5 percent; Rice, at 6.1 percent from 5.3 percent; Food Products, N.E.C., at 5.7 percent from 5.0 percent; Bread and Cereals, at 6.9 percent from 6.2 percent; Oils and Fats, at 6.9 percent from 6.2 percent; Sugar, Jam, Honey, Chocolate and Confectionery, at 3.9 percent from 3.5 percent;  Other Cereals, Flour, Cereal Preparation, Bread, Pasta and other Bakery Products, at 2.7 percent from 2.5 percent; and Milk, Cheese and Egg, at 4.5 percent from 4.3 percent.
 
In contrast, the indices of the following commodity groups went down to wit: Vegetables, at 11.8 percent from 13.2 percent; and Meat, at 12.0 percent from 13.3 percent (see Table 3).
 
 
At the national level, the headline inflation in the country eased to 3.6 percent in December 2021, from 4.2 percent in November 2021. Among the 17 administrative regions, Zamboanga Peninsula and Davao Region posted with the highest inflation both at 6.1 percent, followed by SOCCSKSARGEN  at 5.3 percent and CAR and Central Visayas at 4.6 percent. On the other hand, BARMM had the lowest inflation at 2.1 percent (see Table 4).
 
 
 
 
Approved for release:
 
RUBEN D. ABARO JR., CESE
Regional Director

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