1. Regional Headline Inflation

The Davao Region’s inflation rate for the bottom 30% income households accelerated to 6.3 percent in August 2024 from 5.9 percent in July 2024. In August 2023, the region’s inflation was lower at 3.0 percent. (Table 1 and Figure 1).

The uptrend in the region’s overall inflation for the bottom 30% income households in August 2024 was primarily due to the faster annual growth in the index of Housing, Water, Electricity, Gas, and other Fuels at 6.9 percent from -5.0 percent in the previous month. Additionally, the faster price movement in the commodity groups of Health at 3.2 percent from 2.7 percent, and Information and Communication at -0.1 percent from -0.2 percent contributed to the inflation’s overall upward trend.

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

a.    Food and Non-Alcoholic Beverages at 7.7 percent from 9.6 percent;
b.    Alcoholic Beverages and Tobacco at 4.2 percent from 4.8 percent;
c.    Clothing and Footwear at 4.4 percent from 5.0 percent;
d.    Furnishings, Household Equipment, and Routine Household Maintenance at 3.2 percent from 3.5 percent;
e.    Transport at -0.8 percent from 3.8 percent;
f.    Recreation, Sport, and Culture at 9.3 percent from 9.6 percent;
g.    Education Services at 3.1 percent from 6.2 percent’;
h.    Restaurants and Accommodation Services at 6.5 percent from 6.6 percent; and
i.    Personal Care, and Miscellaneous Goods and Services at 3.2 percent from 3.7 percent.

Meanwhile, the commodity group of Financial Services at -0.1 percent retained its previous month’s inflation rate.
 

2. Davao Region Food Inflation

The Food inflation for the bottom 30% income households at the regional level declined to 7.9 percent in August 2024 from 10.0 percent in the previous month. In August 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 August 2024 were Cereals and Cereal Products at 15.9 percent from 18.7 percent, Vegetables, Tubers, Plantains, Cooking Bananas and Pulses at 6.5 percent from 13.1 percent, and Fish and Other Seafood at -0.2 percent from 2.8 percent.

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

a.    Fruits and Nuts at 12.5 percent from 15.1 percent;
b.    Sugar, Confectionery, and Desserts at -10.3 percent from -10.0 percent; and
c.    Ready-Made Food and Other Food Products N.E.C. at 9.0 percent from 10.7 percent.

On the other hand, the following commodity groups displayed a faster price movement:
a.    Meat and Other Parts of Slaughtered Land Animals at 1.4 percent from 1.0 percent; 
b.    Milk, Other Dairy Products and Eggs at 3.4 percent from 0.9 percent; and
c.    Oils and Fats at 2.9 percent from -1.6 percent.
 

3. Regional Inflation Rates

At the national level, the country's inflation for the bottom 30% income households decelerated to 4.7 percent from 5.8 percent in the previous month. (Table 4)

Among the 17 administrative regions, Region XI (Davao Region) had the highest inflation at 6.3 percent followed by Region VI (Western Visayas) at 5.9 percent and MIMAROPA at 5.7 percent. On the other hand, Region I (Ilocos Region) had the lowest inflation at 2.6 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