Release Date :
Reference Number :
DAVNOR-2019-004
Year-on-YearDavao del Norte retained its headline inflation rate at 3.1 percent in February 2019. This is the same rate recorded on the previous month and lower than the 4.8 percent rate in February 2018.
A percent change in the average retail price of the fixed basket of consumer goods and services in Davao del Norte of 3.1 was recorded in February 2019, the price situation increasing from 117.2 on the same month of the previous year to 120.8 on the current month. Mark-ups were observed in all the indices, excluding education.
The change was mainly driven by the increments in the indices of alcoholic beverages and tobacco, and health, displaying 10.5 percent (155.0 to 171.2) and 8.4 percent (117.1 to 126.9), respectively. The price levels in the commodity groups of housing, water, electricity, gas and other fuels, restaurant and miscellaneous goods and services, recreation and culture, clothing and footwear, furnishings, household equipment and routine maintenance of the house, food and non-alcoholic beverages, transport, and communication also increased.
On the other hand, the index of education decreased by 7.0 percent (127.2 to 118.3).
Month-on-Month
The month-on-month headline inflation rate in Davao del Norte registered a 0.3 percent (120.4 to 120.8) gain in February 2019.
The index of furnishings, household equipment and routine maintenance of the house, and transport exhibited the highest increase of 0.65percent (123.0 to 123.8) and 0.58 percent (102.8 to 103.4), respectively.Mark-ups in the price situation of food and non-alcoholic beverages, furnishings, household equipment and routine maintenance of the house, health, clothing and footwear, and restaurant and miscellaneous goods and services were also observed.
On the contrary, the index of communication decelerated by 0.20 percent (102.0 to 101.8).
No changes were observed in all the other indices. With these changes in price levels in Davao del Norte, the purchasing power of peso remained at 0.83 in February 2019.
TECHNICAL NOTES
Consumer Price Index (CPI)
An indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by households relative to a base year.
Components of the CPI
Market Basket
A sample of the the variety of goods and services commonly consumed by an average Filipino household to represent the price behavior of all goods and services brought by consumer.
Weight
A value attached to a commodity or group of commodities depending on the magnitude of its contribution to the index.
Base Period
A reference date at which the index is equal to 100. Base year is 2012.
Sample Outlets
Establishments where prices of commodities are quoted.
Geographic Coverage
The Philippines by region and province and for NCR.
Index Methodology
Laspeyre’s formula: fixed base year and weights.
Inflation Rate
The annual rate of change or the year-on-year changes in the average retail prices expressed in percent.
Purchasing Power of the Peso (PPP)
The measure of how much the peso in the base period is worth in the current period.
PEPITO D. AMOYEN
Chief Statistical Specialist
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