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Release Date :
Reference Number :
SR-24RSSO11-014

 

 

1. Regional Headline Inflation

The year-on-year headline inflation of Davao Region increased to 5.1 percent in April 2024, from 4.8 percent in March 2024. In April 2023, the region’s inflation was higher at 7.5 percent. (Table 1 and Figure 1).

The major contributor to the region’s overall inflation in April 2024 was the commodity group of Food and Non-Alcoholic Beverages at 9.1 percent from 8.5 percent in the previous month. The commodity groups of Housing, Water, Electricity, Gas and Other Fuels at -3.0 percent, Transport at 4.2 percent, and Furnishings, Household Equipment and Routine Household Maintenance at 4.7 percent were also contributors to the region’s overall inflation uptrend.

On the other hand, lower annual increments were noted in the indices of the following commodity groups during the month:

a.    Alcoholic Beverages and Tobacco at 6.5 percent from 9.1 percent;
b.    Clothing and Footwear at 4.8 percent from 5.1 percent;
c.    Information and Communication at -0.2 percent from 0.2 percent;
d.    Recreation, Sport, and Culture at 5.3 percent from 6.3; 
e.    Restaurants and Accommodation Services at 6.6 percent from 6.8 percent; and
f.    Personal Care, and Miscellaneous Goods and Services at 4.5 percent from 4.7 percent.

Meanwhile, the commodity group of Health at 4.4 percent, Education Services at 4.0 percent, and Financial Services at -0.1 percent retained its previous month’s inflation rate. 
 

 

2. Davao Region Food Inflation

The region’s Food inflation accelerated to 9.4 percent in April 2024 from 8.7 percent in the previous month. In April 2023, the Food inflation was higher at 7.6 percent. (Table 3)

The main drivers in the increase of Food inflation in the region in April 2024 were the commodity groups of Vegetables, Tubers, Plantains, Cooking Bananas, and Pulses at 9.8 percent, Fish and Other Seafood at 4.6 percent, and Meat and Other Parts of Slaughtered Land Animals at 0.1 percent.

Moreover, the prices of the following groups moved faster compared to the previous month:

a.    Milk, Other Dairy Products, and Eggs at 3.7 percent from 3.1 percent; 
b.    Oils and Fats at -4.0 percent from -4.6 percent;
c.    Sugar, Confectionery, and Desserts at -3.7 percent from -4.2 percent; and
d.    Ready-Made Food and Other Food Products N.E.C. at 7.8 percent from 6.4 percent.

Meanwhile, the food groups of Cereals and Cereal Products at 20.2 percent, and Fruits and Nuts at 21.8 percent recorded slower inflation compared to March 2024.
 

 

3. Regional Inflation Rates

At the national level, the country's headline inflation accelerated to 3.8 percent in April 2024, from 3.7 percent in the previous month (Table 4).

Among the 17 administrative regions, BARMM had the highest inflation at 6.3 percent followed by Region XI (Davao Region) at 5.1 percent and Region XII (SOCCSKSARGEN) at 5.0 percent. On the other hand, Region I (Ilocos Region) had the lowest inflation at 2.4 percent. (Table 4 and Figure 2)
 

 

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

 

 

APPROVED FOR RELEASE:

 


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

 

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