1. Regional Headline Inflation

The Davao Region’s inflation rate for the bottom 30% income households decreased to 4.8 percent in June 2024 from 6.1 percent in May 2024. In June 2023, the region’s inflation was higher at 6.3 percent. (Table 1 and Figure 1).

The downtrend in the region’s overall inflation for the bottom 30% income households in June 2024 was primarily due to the slower annual growth in the index of Food and Non-Alcoholic Beverages at 9.6 percent from 11.0 percent in the previous month. Additionally, the slower price movement in the commodity groups of Housing, Water, Electricity, Gas, and other Fuels at -10.5 percent from -7.8 percent, and Transport at 3.1 percent from 4.4 percent contributed to the inflation’s overall downward trend. (Table 2)

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

a.    Alcoholic Beverages and Tobacco at 4.8 percent from 5.1 percent;
b.    Recreation, Sport, and Culture at 8.4 percent from 8.7 percent; and
c.    Restaurants and Accommodation Services at 6.0 percent from 6.2 percent.

On the other hand, the following commodity groups posted faster price movements in June 2024 than in May 2024:

a.    Clothing and Footwear at 5.1 percent from 4.6 percent;
b.    Furnishings, Household Equipment, and Routine Household Maintenance at 3.7 percent from 3.3 percent; and
c.    Personal Care, and Miscellaneous Goods and Services at 3.9 percent from 3.6 percent.

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

a.    Health at 2.4 percent;
b.    Information and Communication at -0.2 percent; 
c.    Education Services at 3.9 percent; and
d.    Financial Services at -0.1 percent. 
 

2. Davao Region Food Inflation

The Food inflation for the bottom 30% income households at the regional level decreased to 9.8 percent in June 2024 from 11.4 percent in the previous month. In June 2023, the Food inflation was lower at 6.9 percent. (Table 3)

The main contributors to the overall inflation of food in the region in June 2024 were Fish and Other Seafood at 0.7 percent from 7.6 percent; Cereals and Cereal Products at 20.4 percent from 21.0 percent; and Milk, Other Dairy Products and Eggs at -0.2 percent from 1.6 percent.

Moreover, the following commodity groups recorded a lower year-on-year growth, namely:
a.    Fruits and Nuts at 21.4 percent from 21.7 percent;
b.    Vegetables, Tubers, Plantains, Cooking Bananas and Pulses at 10.5 percent from 11.7 percent; and
c.    Sugar, Confectionery, and Desserts at -6.0 percent from -4.6 percent.

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

a.    Meat and Other Parts of Slaughtered Land Animals at -0.8 percent from -1.5 percent;
b.    Oils and Fats at -2.3 percent from -4.5 percent; and
c.    Ready-Made Food and Other Food Products N.E.C. at 10.4 percent from 9.2 percent.
 

3. Regional Inflation Rates

At the national level, the country's inflation for the bottom 30% income households accelerated to 5.5 percent from 5.3 percent in the previous month. (Table 4)

Among the 17 administrative regions, Region VII (Central Visayas) had the highest inflation at 7.0 percent followed by Region IX (Zamboanga Peninsula) at 6.8 percent and Region X (Northern Mindanao) at 6.6 percent. On the other hand, NCR (National Capital Region) had the lowest inflation at 3.5 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