1. Regional Headline Inflation

The Davao Region’s inflation rate for the bottom 30% income households declined to 5.3 percent in March 2024 from 5.4 percent in February 2024. In March 2023, the region’s inflation was higher at 11.1 percent. (Table 1 and Figure 1).

The downtrend in the region’s overall inflation for the bottom 30% income households in March 2024 was primarily due to the slower annual growth in the index of Food and Non-Alcoholic Beverages at 10.0 percent from 10.2 percent in the previous month. Additionally, the slower annual increments of Restaurants and Accommodation Services at 7.0 percent from 7.9 percent, Alcoholic Beverages and Tobacco at 10.1 percent from 12.2 percent, and Clothing and Footwear at 5.3 percent from 5.4 percent contributed to the downward trend of the regional inflation for the bottom 30% income households. (Table 2)

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

a.    Housing, Water, Electricity, Gas, and other Fuels at -10.5 percent from -10.6 percent;
b.    Health at 2.6 percent from 2.5 percent;
c.    Transport at 3.6 percent from 3.1 percent; and 
d.    Personal Care, and Miscellaneous Goods and Services at 3.8 percent from 3.7 percent.

Meanwhile, the commodity groups of Furnishings, Household Equipment, and Routine Household Maintenance at 3.7 percent, Information and Communication at -0.1 percent, Recreation, Sport, and Culture at 10.9 percent, Education Services at 3.9 percent, and Financial Services at -0.1 percent retained their previous month’s inflation rates. 
 

2. Davao Region Food Inflation

Food inflation for the bottom 30% income households at the regional level remained at 10.4 percent in March 2024 from 10.4 percent in the previous month. In March 2023, the Food inflation was posted at 11.9 percent. (Table 3)

The main contributors to the overall inflation of Food in the region  in March 2024 were Cereals and Cereal Products at 21.9 percent, Fish and Other Seafood at 5.3 percent, and Fruits and Nuts at 26.9 percent.

With regards to the movement of the Food commodity groups for March 2024, the price of the following groups moved faster compared to the previous month:

a.    Oils and Fats at -13.8 percent from -17.2 percent;
b.    Fruits and Nuts at 26.9 percent from 25.5 percent;
c.    Vegetables, Tubers, Plantains, Cooking Bananas, and Pulses at 2.1 percent from 1.0 percent;
d.    Sugar, Confectionery, and Desserts at -7.2 percent from -9.1 percent; and
e.    Ready-Made Food and Other Food Products N.E.C. at 6.2 percent from 5.8 percent.

On the other hand, the price movement of Fish and Other Seafood at 5.3 percent from 6.0 percent, and Milk, Other Dairy Products, and Eggs at 4.2 percent from 5.9 percent groups moved slower compared to the previous month.

Meanwhile, Meat and Other Parts of Slaughtered Land Animals at -1.4 percent retained its previous month’s inflation.
 

3. Regional Inflation Rates

At the national level, the country's inflation for the bottom 30% income households increased to 4.6 percent in March 2024, from 4.2 percent in the previous month. (Table 4)

Among the 17 administrative regions, Region III (Central Luzon) had the highest inflation at 6.0 percent followed by MIMAROPA at 5.6 percent and Region V (Bicol Region) at 5.4 percent. On the other hand, Region VII (Central Visayas) had the lowest inflation at 3.3 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