The year-on-year regional inflation of Davao Region moved upward to 9.6 percent in September 2022, from 8.9 percent in August 2022. This is the highest recorded inflation since January 2022. The average inflation for the first nine months of the year stood at 5.1 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 September 2022. This month’s PPP is lower than in September 2021 at 93 centavos. (Table 2)

The increase in the region’s inflation was mainly brought about by the higher annual increase in the index of food at 10.5 percent, housing, water, electricity, gas and other fuels at 9.3 percent, and health at 5.0 percent.

Moreover, contributing to the uptrend in the overall inflation during the period were the higher annual increments in the indices of the following commodity groups as compared with their previous month’s inflation rates:

a. Clothing and footwear at 4.4 percent;

b. Personal care, and miscellaneous goods and services at 5.2 percent;

c. Furnishings, household equipment and routine household maintenance at 5.9 percent;

d. Restaurants and accommodation services at 6.3 percent;

e. Information and communication at 0.9 percent;

f. Alcoholic beverages and tobacco at 10.3 percent; and

g. Recreation, sport and culture at 4.7 percent.

On the other hand, a lower annual increment was observed in the commodity groups for transport at 17.2 percent. Meanwhile, the indices for education services and financial services retained their previous month’s inflation rates. (Table 3)

The food index increased to 10.8 percent in September from 9.3 percent in the previous month. In September 2021, the food index was lower by 5.9 percent.

In addition, the upward inflation trend of the food index was mainly attributed to the following food groups:

a. Fish and other seafood at 15.6 percent;

b. Corn at 33.1 percent;

c. Rice at 2.5 percent;

d. Sugar, confectionery and desserts at 41.7 percent;

e. Vegetables, tubers, plantains, cooking bananas, and pulses at 6.9 percent;

f. Flour, bread and other bakery products, pasta products, and other cereals at 7.9 percent;

g. Fruit and nuts at 5.8 percent; and

h. Oils and fats at 29.5 percent.

Meanwhile, lower annual upticks were recorded in meat and other parts of slaughtered land animals at 12.3 percent. On the other hand, milk, other dairy products, and eggs, and ready-made food and other food products n.e.c. retained last month’s inflation rate. (Table 4)

At the national level, the headline inflation in the country moved upwards to 6.9 percent in September 2022, from 6.3 percent in the previous month. Among the 17 administrative regions, Zamboanga Peninsula and Davao Region had the highest inflation at 9.6 percent followed by Caraga at 8.2 percent, and Central Visayas at 8.1 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