Davao del Norte’s headline inflation rate further slowed down to 3.1 percent in January 2019, lower than the 4.3 percent rate posted on the previous month and the 4.1 percent rate in January 2018.

The average retail price of the fixed basket of consumer goods and services in Davao del Norte was recorded at 120.4, dropping by 3.1 percent from the price level on the same month of the previous year (116.8). Despite the slowdown in the headline inflation rate, mark-ups were recorded in all the indices, excluding education.

Notable increases were observed in the indices of alcoholic beverages and tobacco, and health, displaying 13.60 percent (150.7 to 171.2) and 10.17 percent (115.0 to 126.7), respectively. Higher annual gains were also observed in the commodity groups of housing, water, electricity, gas and other fuels, restaurant and miscellaneous goods and services, clothing and footwear, recreation and culture, furnishings, household equipment and routine maintenance of the house, transport, and food and non-alcoholic beverages.

The index of communication posted the least increase at 0.49 percent (101.5 to 102.0).

In contrast, the price index of education decelerated by 7.0 percent (127.2 to 118.3).

Food and non-alcoholic beverages registered the highest increment with reference to the price situation in the previous month, increasing from 117.4 to 119.2 (1.53 percent). Furthermore, an increase of almost 0.1 percent was also observed in the price situation of restaurant and miscellaneous goods and services (125.7 to 125.8).

In contrast, the price levels in the indices of housing, water, electricity, gas and other fuels, recreation and culture, and transport deflated by 1.3 percent (124.6 to 123.0), 0.9 percent (103.7 to 102.8), and 0.1 percent (122.0 to 121.9), respectively.

No changes were observed in all the other indices. The purchasing power of peso in Davao del Norte remained at 0.83 in January 2019.

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.

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.

A value attached to a commodity or group of commodities depending on the magnitude of its contribution to the index.

A reference date at which the index is equal to 100. Base year is 2012.