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Release Date :
Reference Number :
SR-24RSSO11-015

 

 

1. Regional Headline Inflation

The Davao Region’s inflation rate for the bottom 30% income households increased to 5.5 percent in April 2024 from 5.3 percent in March 2024. In April 2023, the region’s inflation was higher at 9.0 percent. (Table 1 and Figure 1).

The uptrend in the region’s overall inflation for the bottom 30% income households in April 2024 was primarily due to the faster annual growth in the index of Food and Non-Alcoholic Beverages at 10.6 percent from 10.0 percent in the previous month. Additionally, the faster annual increments of Housing, Water, Electricity, Gas, and other Fuels at -10.2 percent from -10.5 percent, and Transport at 4.3 percent from 3.6 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 5.9 percent from 10.1 percent;
b.    Clothing and Footwear at 4.8 percent from 5.3 percent;
c.    Health at 2.5 percent from 2.6 percent;
d.    Information and Communication at -0.2 percent from -0.1 percent; 
e.    Recreation, Sport, and Culture at 9.1 percent from 10.9 percent; 
f.    Restaurants and Accommodation Services at 6.2 percent from 7.0 percent; and 
g.    Personal Care, and Miscellaneous Goods and Services at 3.6 percent from 3.8 percent.

Meanwhile, the commodity groups of Furnishings, Household Equipment, and Routine Household Maintenance at 3.7 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

The food inflation for the bottom 30% income households at the regional level increased to 10.9 percent in April 2024 from 10.4 percent in the previous month. In April 2023, the Food inflation was lower at 9.2 percent. (Table 3)

The main contributors to the overall inflation of food in the region in April 2024 were Vegetables, Tubers, Plantains, Cooking Bananas and Pulses at 8.9 percent, Ready-Made Food and Other Food Products N.E.C. at 8.5 percent, and Fish and Other Seafood at 5.7 percent.
Moreover, the price of the following groups moved faster compared to the previous month:

a.    Oils and Fats at -10.7 percent from -13.8 percent;
b.    Sugar, Confectionery, and Desserts at -5.5 percent from -7.2 percent;
c.    Milk, Other Dairy Products, and Eggs at 4.4 percent from 4.2 percent; and
d.    Meat and Other Parts of Slaughtered Land Animals at -1.4 percent.

On the other hand, the price movement of Cereals and Cereal Products at 21.1 percent from 21.9 percent, and Fruits and Nuts at 24.9 percent from 26.9 percent moved slower compared to the previous month.

 

3. Regional Inflation Rates

At the national level, the country's inflation for the bottom 30% income households increased to 5.2 percent in April 2024, from 4.6 percent in the previous month. (Table 4)

Among the 17 administrative regions, Region IX (Zamboanga Peninsula) had the highest inflation at 6.9 percent followed by Region III (Central Luzon) at 6.3 percent and BARMM at 6.0 percent. On the other hand, NCR (National Capital Region) had the lowest inflation at 3.8 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