1. Regional Headline Inflation

The Davao Region’s inflation rate for the bottom 30% income households declined to 2.3 percent in October 2024 from 2.9 percent in September 2024. In October 2023, the region’s inflation was higher at 4.2 percent. (Table 1 and Figure 1).

The downtrend in the region’s overall inflation for the bottom 30% income households in October 2024 was primarily due to the slower annual growth in the index of Housing, Water, Electricity, Gas, and other Fuels at -4.6 percent from -1.4 percent. Additionally, the slower price movement in the commodity groups of Food and Non-Alcoholic Beverages at 4.4 percent from 4.5 percent, and Restaurants and Accommodation Services at 4.4 percent from 4.9 percent contributed to the inflation’s overall downward trend.

Moreover, the following commodity groups posted slower price movements in October 2024 than in September 2024:

a.    Alcoholic Beverages and Tobacco at 2.4 percent from 3.3 percent;
b.    Clothing and Footwear at 3.5 percent from 4.1 percent;
c.    Furnishings, Household Equipment, and Routine Household Maintenance at 2.9 percent from 3.1 percent;
d.    Health at 2.3 percent from 2.5 percent;
e.    Information and Communication at -0.2 percent from -0.1 percent; and
f.    Personal Care, and Miscellaneous Goods and Services at 2.7 percent from 3.2 percent.

On the other hand, the commodity groups of Transport at -3.1 percent, and Recreation, Sport, and Culture at 7.9 percent recorded faster price movements compared to September 2024.

Meanwhile, the commodity groups of Education Services at 2.7 percent and Financial Services at -0.1 percent, retained its previous month’s inflation rates.
 

2. Davao Region Food Inflation

The Food inflation for the bottom 30% income households at the regional level declined to 4.6 percent in September 2024 from 7.9 percent in the previous month. In September 2023, the Food inflation was higher at 9.3 percent. (Table 3)

The main contributors to the downtrend of overall food inflation in the region in September 2024 were Cereals and Cereal Products at 6.1 percent from 15.9 percent; Vegetables, Tubers, Plantains, Cooking Bananas and Pulses at -1.0 percent from 6.5 percent; Ready-Made Food and Other Food Products N.E.C. at 7.8 percent from 9.0 percent; and Meat and Other Parts of Slaughtered Land Animals at 1.3 percent from 1.4 percent.

On the other hand, the following commodity groups recorded a faster year-on-year growth, namely:

a.    Fish and Other Seafood at 5.9 percent from -0.2 percent;
b.    Milk, Other Dairy Products and Eggs at 6.4 percent from 3.4 percent; 
c.    Oils and Fats at 7.6 percent from 2.9 percent;
d.    Fruits and Nuts at 14.7 percent from 12.5 percent; and
e.    Sugar, Confectionery, and Desserts at -10.0 percent from -10.3 percent.
 

3. Regional Inflation Rates

At the national level, the country's inflation for the bottom 30% income households increased to 3.4 percent from 2.5 percent in the previous month. (Table 4)

Among the 17 administrative regions, Region VI (Western Visayas) had the highest inflation at 5.0 percent followed by Region V (Bicol Region) at 4.8 percent and Region II (Cagayan Valley) at 4.0 percent. On the other hand, BARMM had the lowest inflation at 1.6 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