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Release Date :
Reference Number :
SR-24RSSO11-017

 

1. Regional Headline Inflation

The Davao Region’s inflation rate for the bottom 30% income households increased to 6.1 percent in May 2024 from 5.5 percent in April 2024. In May 2023, the region’s inflation was higher at 7.0 percent. (Table 1 and Figure 1).

The uptrend in the region’s overall inflation for the bottom 30% income households in May 2024 was primarily due to the faster annual growth in the index of Housing, Water, Electricity, Gas, and other Fuels at -7.8 percent from -10.2 percent in the previous month. Additionally, the faster annual increments of Food and Non-Alcoholic Beverages at 11.1 percent from 10.6 percent, and Transport at 4.4 percent from 4.3 percent. (Table 2)

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

a.    Alcoholic Beverages and Tobacco at 5.1 percent from 5.9 percent;
b.    Clothing and Footwear at 4.6 percent from 4.8 percent;
c.    Furnishings, Household Equipment, and Routine Household Maintenance at 3.3 percent from 3.7 percent;
d.    Health at 2.4 percent from 2.5 percent; and
e.    Recreation, Sport, and Culture at 8.7 percent from 9.1 percent;

Meanwhile, the following commodity groups retained their previous month’s inflation rates:

a.    Information and Communication at -0.2 percent; 
b.    Education Services at 3.9 percent;
c.    Restaurants and Accommodation Services at 6.2 percent; 
d.    Financial Services at -0.1 percent; and
e.     Personal Care, and Miscellaneous Goods and Services at 3.6 percent.
 

 

2. Davao Region Food Inflation

The Food inflation for the bottom 30% income households at the regional level increased to 11.4 percent in May 2024 from 10.9 percent in the previous month. In May 2023, the Food inflation was lower at 6.7 percent. (Table 3)

The main contributors to the overall inflation of food in the region in May 2024 were Fish and Other Seafood at 7.6 percent from 5.7 percent; Vegetables, Tubers, Plantains, Cooking Bananas and Pulses at 11.7 percent from 8.9 percent; and Oils and Fats at -4.5 percent from -10.7 percent.

Moreover, the commodity groups recorded a higher year-on-year growth namely Sugar, Confectionery, and Desserts at -4.6 percent from -5.5 percent, and Ready-Made Food and Other Food Products N.E.C. at 9.2 percent from 8.5 percent.

On the other hand, the following commodity groups displayed a slower price movement:

a.    Cereals and Cereal Products at 21.0 percent from 21.1 percent;
b.    Meat and Other Parts of Slaughtered Land Animals at -1.5 percent from -1.3 percent;
c.    Milk, Other Dairy Products and Eggs at 1.6 percent from 4.4 percent; and
d.    Fruits and Nuts at 21.7 percent from 24.9 percent.
 

 

3. Regional Inflation Rates

At the national level, the country's inflation for the bottom 30% income households retained its previous month’s inflation at 5.3 percent. (Table 4)

Among the 17 administrative regions, Region IX (Zamboanga Peninsula) had the highest inflation at 6.3 percent followed by MIMAROPA and Region X (Northern Mindanao) both at 6.2 percent. On the other hand, Region I (Ilocos Region) had the lowest inflation at 3.9 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
 

 

 

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