1. Regional Headline Inflation

The year-on-year headline inflation of Davao Region declined to 4.3 percent in June 2024, from 5.3 percent in May 2024. In June 2023, the region’s inflation was higher at 5.7 percent. (Table 1 and Figure 1).

The major contributor to the region’s overall inflation trend in June 2024 was the commodity group of Food and Non-Alcoholic Beverages at 7.5 percent from 8.8 percent in the previous month. Also, the commodity groups of Housing, Water, Electricity, Gas, and Other Fuels, at -2.9 percent from -1.1 percent, and Transport, at 3.2 percent from 4.5 percent, contributed to the region’s overall inflation downtrend.

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

a.    Alcoholic Beverages and Tobacco at 5.2 percent from 5.4 percent;
b.    Health at 4.0 percent from 4.4 percent;
c.    Information and Communication at -0.3 percent from -0.2 percent;
d.    Recreation, Sport, and Culture at 4.5 percent from 4.9; and
e.    Restaurants and Accommodation Services at 6.2 percent from 6.6 percent.

On the other hand, three commodity groups recorded faster annual growth rates during the month, to wit:

a.    Clothing and Footwear at 4.8 percent from 4.6 percent;
b.    Furnishings, Household Equipment, and Routine Household Maintenance at 4.7 percent from 4.5 percent; and
c.    Personal Care, and Miscellaneous Goods and Services at 4.9 percent from 4.4 percent.

Meanwhile, 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 decelerated to 7.8 percent in June 2024 from 9.0 percent in the previous month. In June 2023, the Food inflation was lower at 6.1 percent. (Table 3)

The main drivers in the decrease of Food inflation in the region in June 2024 were the commodity groups of Fish and Other Seafood, at -1.1 percent from 4.6 percent, Cereals and Cereal Products, at 19.1 percent from 19.7 percent, and Vegetables, Tubers, Plantains, Cooking Bananas, and Pulses, at 11.4 percent from 12.8 percent.

Additionally, Milk, Other Dairy Products, and Eggs, at -0.1 percent from 1.1 percent, and Sugar, Confectionery, and Desserts, at -3.5 percent from -2.9 percent contributed to the downtrend of the Food inflation in June 2024.

On the other hand, the following commodity groups recorded higher inflation in June 2024 compared to May 2024:

a.    Meat and Other Parts of Slaughtered Land Animals at -0.1 percent from -1.1 percent;
b.    Oils and Fats at 0.6 percent from 0.1 percent;
c.    Fruits and Nuts at 20.8 percent from 19.6 percent; and
d.    Ready-Made Food and Other Food Products N.E.C. at 9.4 percent from 8.0 percent.
 

3. Regional Inflation Rates

At the national level, the country's headline inflation declined to 3.7 percent in June 2024, from 3.9 percent in the previous month (Table 4).

Among the 17 administrative regions, BARMM had the highest inflation at 5.3 percent followed by Region IX (Zamboanga Peninsula) at 5.2 percent     and Region X (Northern Mindanao) at 5.0 percent. On the other hand, NCR (National Capital Region) had the lowest inflation at 2.3 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