1. Regional Headline Inflation

The Davao Region’s inflation rate for the bottom 30% income households upticked to 5.9 percent in July 2024 from 4.8 percent in June 2024. In July 2023, the region’s inflation was lower at 4.3 percent. (Table 1 and Figure 1).

The uptrend in the region’s overall inflation for the bottom 30% income households in July 2024 was primarily due to the faster annual growth in the index of Housing, Water, Electricity, Gas, and other Fuels at -5.0 percent from -10.5 percent in the previous month. Additionally, the faster price movement in the commodity groups of Transport at 3.8 percent from 3.1 percent, and Restaurants and Accommodation Services at 6.6 percent from 6.0 percent contributed to the inflation’s overall upward trend.

Moreover, higher annual increments were noted in the indices of Health at 2.7 percent from 2.4 percent; Recreation, Sport, and Culture at 9.6 percent from 8.4 percent; and Education Services at 6.2 percent from 3.9 percent compared to June 2024.

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

a.    Clothing and Footwear at 5.0 percent from 5.1 percent;
b.    Furnishings, Household Equipment, and Routine Household Maintenance at 3.5 percent from 3.7 percent; and
c.    Personal Care, and Miscellaneous Goods and Services at 3.7 percent from 3.9 percent.

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

a.    Food and Non-Alcoholic Beverages at 9.6 percent;
b.    Alcoholic Beverages and Tobacco at 4.8 percent;
c.    Information and Communication at -0.2 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 accelerated to 10.0 percent in July 2024 from 9.8 percent in the previous month. In July 2023, the Food inflation was lower at 5.4 percent. (Table 3)

The main contributors to the overall inflation of food in the region in July 2024 were Fish and Other Seafood at 2.8 percent from 0.7 percent, Meat and Other Parts of Slaughtered Land Animals at 1.0 percent from -0.8 percent, and Vegetables, Tubers, Plantains, Cooking Bananas and Pulses at 13.1 percent from 10.5 percent.

Moreover, the following commodity groups recorded a higher year-on-year growth, namely:

a.    Milk, Other Dairy Products and Eggs at 0.9 percent from -0.2 percent;
b.    Oils and Fats at -1.6 percent from -2.3 percent; and
c.    Ready-Made Food and Other Food Products N.E.C. at 10.7 percent from 10.4 percent

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

a.    Cereals and Cereal Products at 18.7 percent from 20.4 percent; 
b.    Fruits and Nuts at 15.1 percent from 21.4 percent; and
c.    Sugar, Confectionery, and Desserts at -10.0 percent from -6.0 percent.
 

3. Regional Inflation Rates

At the national level, the country's inflation for the bottom 30% income households accelerated to 5.8 percent from 5.5 percent in the previous month. (Table 4)

Among the 17 administrative regions, Region VII (Central Visayas) had the highest inflation at 7.7 percent followed by Region X (Northern Mindanao) at 7.1 percent and Region IX (Zamboanga Peninsula) at 6.8 percent. On the other hand, NCR (National Capital Region) had the lowest inflation at 4.5 percent. (Table 4 and Figure 2)
 

Note: CPIs and inflation rates by province and selected city are posted on the PSA website (https://openstat.psa.gov.ph/).

APPROVED FOR RELEASE:

RANDOLPH ANTHONY B. GALES
(Chief Statistical Specialist)
Officer-In-Charge
Regional Statistical Services Office 11