1. Regional Headline Inflation

The annual average headline inflation of Davao Region declined to 4.0 percent in 2024 from 6.3 percent in 2023. (Table 1  and Figure 1).

The overall downtrend in the region’s annual average inflation in 2024 was primarily attributed to the slower annual average increment in the Housing, Water, Electricity, Gas and Other Fuels index at -0.5 percent from 3.7 percent in 2023. Moreover, among the major contributors to the downtrend were the commodity groups of Food and Non-Alcoholic Beverages at 6.3 percent from 7.8 percent; and Restaurants and Accommodation Services at 5.9 percent from 9.4 percent.

Slower annual average increments were noted in the indices of the following commodity in 2024 compared to 2023:

a.    Alcoholic Beverages and Tobacco at 6.2 percent from 15.0 percent;
b.    Clothing and Footwear, at 4.5 percent from 6.1 percent
c.    Furnishings, Household Equipment, and Routine Household Maintenance at 4.4 percent from 6.6 percent; 
d.    Health at 3.7 percent from 5.8 percent;
e.    Transport at 0.9 percent from 1.9 percent;
f.    Information and Communication at -0.1 percent from 1.4 percent; 
g.    Recreation, Sport, and Culture at 5.1 percent from 7.3 percent;
h.    Financial Services at -0.1 percent from 0.0 percent; and
i.    Personal Care, and Miscellaneous Goods and Services at 4.1 percent  from 6.5 percent.

On the other hand, Education Services at 6.1 percent was the only commodity group that recorded a faster annual average increment in 2024.
 

2. Davao Region Food Inflation

The region’s annual average Food inflation decelerated to 6.5 percent in 2024 from 7.7 percent in 2023. (Table 3)

The main drivers for the downtrend of the region’s annual average Food inflation were commodity groups of Meat and Other Parts of Slaughtered Land Animals at 0.8 percent from 6.3 percent; Sugar, Confectionery, and Desserts, at -4.3 percent from 17.8 percent; and Milk, Other Dairy Products, and Eggs, at 3.1 percent from 9.4 percent.

Additionally, lower annual average growth rates during the year were observed in the indices of:

a.    Vegetables, Tubers, Plantains, Cooking Bananas, and Pulses at 3.6 percent from 10.0 percent;
b.    Oils and Fats at -0.6 percent from 7.3 percent; and
c.    Ready-made Food and other Food Products n.e.c. at 7.6 percent from 8.1 percent.

On the other hand, the following food groups recorded faster annual average increase during the year:

a.    Cereals and Cereal Products, at 13.2 percent from 11.5 percent; 
b.    Fish and Other Seafood at 3.3 percent from -1.0 percent; and
c.    Fruits and Nuts at 16.4 percent from 12.5 percent.
 

3. Regional Inflation Rates

The national annual average inflation decelerated by 3.2 percent in 2024 from 6.0 percent in 2023. (Table 4)

In 2024, among the 17 administrative regions, Region XI (Davao Region) had the highest annual average inflation rate at 4.0 percent, followed by Region III (Central Luzon) and BARMM both at 3.9 percent. 
On the other hand, Region I (Ilocos Region) recorded the lowest annual average inflation rate at 2.1 percent. (Table 4 and Figure 2)
 

Note: CPIs and inflation rates by province and selected city are posted on the PSA website (https://openstat.psa.gov.ph/).

APPROVED FOR RELEASE:

RANDOLPH ANTHONY B. GALES
(Chief Statistical Specialist)
Officer-In-Charge
Regional Statistical Services Office 11