1. Regional Headline Inflation

The year-on-year headline inflation of Davao Region declined to 2.2 percent in November 2024, from 2.4 percent in October 2024. In November 2023, the region’s inflation was higher at 4.9 percent. (Table 1 and Figure 1).

The downtrend in the region’s overall inflation in November 2024 was primarily attributed to the slower annual increment in the index of Food and Non-Alcoholic Beverages at 2.3 percent from 4.1 percent. Also contributing to the downtrend were the commodity groups of Clothing and Footwear at 3.4 percent from 3.7 percent; Personal Care, and Miscellaneous Goods and Services at 3.0 percent from 3.1 percent; and Recreation, Sport, and Culture at 4.1 percent from 4.5 percent.

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

a.    Alcoholic Beverages and Tobacco at 3.6 percent from 3.5 percent;
b.    Housing, Water, Electricity, Gas and other Fuels at 2.2 percent from 0.0 percent;
c.    Furnishings, Household Equipment, and Routine Household Maintenance at 3.9 percent from 3.8 percent; 
d.    Transport at -2.6 percent from -3.0 percent;
e.    Information and Communication at -0.3 percent from -0.5 percent; and
f.    Restaurants and Accommodation Services at 3.6 percent from 3.3 percent.

Meanwhile, the indices of Health at 2.8 percent, Education Services at 7.8 percent and Financial Services at -0.1 percent retained the previous month’s inflation rate.
 

2. Davao Region Food Inflation

The region’s Food inflation decelerated at 2.3 percent in November 2024 from 4.3 percent the previous month’s inflation. In November 2023, the Food inflation was higher at 7.7 percent. (Table 3)

The commodity group of Cereals and Cereal Products, at 1.1 percent from 5.9 percent, is the main contributor to the downtrend of the region’s Food inflation. Additionally, lower annual growth rates during the month were observed in the indices of the following food groups:

a.    Meat and Other Parts of Slaughtered Land Animals at 1.2 percent from 1.3 percent;
b.    Fish and other Seafood at 5.6 percent from 7.1 percent
c.    Milk, Other Dairy Products, and Eggs, at 2.2 percent from 4.0 percent; 
d.    Fruits and Nuts at 6.4 percent from 11.4 percent; and
e.    Ready-made Food and other Food Products n.e.c. at 7.3 percent from 7.5 percent.

On the other hand, the indices of Oils and Fats at 2.7 percent from -0.1 percent; Vegetables, Tubers, Plantains, Cooking Bananas, and Pulses at 1.0 percent from -2.6 percent; and Sugar, Confectionery, and Desserts, at -4.1 percent from -5.9 percent recorded a faster annual increase during the month.
 

3. Regional Inflation Rates

At the national level, the country's headline inflation increased to 2.5 percent in November 2024, from 2.3 percent in the previous month. (Table 4)

Among the 17 administrative regions, Region II (Cagayan Valley) had the highest inflation rate at 3.4 percent, followed by Region V (Bicol Region) and Region VI (Western Visayan) both at 3.2 percent. On the other hand, three regions namely Region XII (SOCCSKSARGEN), BARMM, and Region XIII (Caraga) recorded the lowest inflation rate at 1.7 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