The year-on-year inflation of Davao Region declined to 9.7 percent in November 2022, from 9.8 percent in October 2022. This is the second highest recorded inflation since January 2022. The average inflation for the first eleven months of the year stood at 7.3 percent. (Table 1 and Figure 1)

Purchasing Power of the Peso (PPP) measures the real value of the Philippine peso in a given period relative to its value in the base period. In Davao Region, a peso in 2018 is worth 84 centavos in November 2022. This month’s PPP is lower than in November 2021 at 92 centavos. (Table 2)

The decrease in the region’s inflation was mainly due to the lower annual growth rate in the index of transport at 13.4 percent, from 15.3 percent in October 2022. Also contributing to the downward trend is the lower annual index of housing, water, electricity, gas and other fuels at 7.7 percent, from 8.4 percent during the previous month.

On the other hand, higher annual growths were observed in the indices of the following commodity groups:

a. Alcoholic beverages and tobacco at 13.1 percent;

b. Clothing and footwear at 5.5 percent;

c. Furnishings, household equipment and routine household maintenance at 7.3 percent;

d. Health at 6.1 percent;

e. Information and communication at 1.2 percent;

f. Recreation, sport and culture at 6.0 percent;

g. Restaurants and accommodation services at 7.5 percent; and

h. Personal care, and miscellaneous goods and services at 6.5 percent

Meanwhile, the indices for food and non-alcoholic beverages, education services and financial services retained their previous month’s inflation rates. (Table 3)

The regional inflation for food slightly declined to 11.9 percent in November 2022, from 12.0 percent in October. In November 2021, the food inflation was lower at 4.7 percent.

Moreover, the downward inflation trend of the food index was principally attributed to the decrease in the annual growth rate of fish and other seafood at 8.7 percent, from 14.0 percent in October 2022 (Table 4). Additionally, the following food groups also displayed slower annual growth rates:

a. Vegetables, tubers, plantains, cooking bananas and pulses at 13.1 percent;

b. Meat and other parts of slaughtered land animals at 12.3 percent;

c. Milk, other dairy products and eggs at 7.7 percent; and

d. Ready-made food and other food products n.e.c. at 8.1 percent.

Meanwhile, higher annual upticks were recorded in the indices of:

a. Rice at 6.2 percent;

b. Corn at 40.5 percent;

c. Flour, bread and other bakery products, pasta products, and other cereals at 10.2 percent;

d. Oils and fats at 30.3 percent;

e. Fruits and nuts at 11.8 percent; and

f. Sugar, confectionery and desserts at 51.8 percent.

At the national level, the headline inflation in the country continued its upward movement to 8.0 percent in November 2022, from 7.7 percent in the previous month. Among the 17 administrative regions, Davao Region remained with the highest inflation at 9.7 percent followed by Western Visayas with 9.6 percent, and Zamboanga Peninsula with 8.9 percent. On the other hand, BARMM had the lowest inflation at 6.0 percent (Table 5).

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

(Chief Statistical Specialist)

Officer-In-Charge

Regional Statistical Services Office 11