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Release Date :
Reference Number :
SR-24RSSO11-037

 

1. Regional Headline Inflation

The Davao Region’s inflation rate for the bottom 30% income households declined further to 1.9 percent in November 2024 from 2.3 percent in October 2024. In November 2023, the region’s inflation was higher at 4.1 percent. (Table 1 and Figure 1).

The downtrend in the region’s overall inflation for the bottom 30% income households in November 2024 was primarily due to the slower annual growth in the index of Food and Non-Alcoholic Beverages at 1.8 percent from 4.4 percent. Additionally, the slower price movements in the commodity groups of Recreation, Sport, and Culture at 7.1 percent from 7.9 percent; and Clothing and Footwear at 3.3 percent from 3.5 percent contributed to the inflation’s overall downward trend.

On the other hand, the following commodity groups recorded faster price movements in November 2024 than in October 2024:

a.    Alcoholic Beverages and Tobacco at 2.7 percent from 2.4 percent;
b.    Housing, Water, Electricity, Gas, and other Fuels at 1.8 percent from -4.6 percent;
c.    Furnishings, Household Equipment, and Routine Household Maintenance at 3.1 percent from 2.9 percent;
d.    Transport at -2.4 percent from -3.1 percent; and
e.    Restaurants and Accommodation Services at 5.4 percent from 4.4 percent.

Meanwhile, the following commodity groups retained its previous month’s inflation rates:
a.    Health at 2.3 percent;
b.    Information and Communication at -0.2 percent;
c.    Education Services at 2.7 percent;
d.    Financial Services at -0.1 percent;  and
e.    Personal Care, and Miscellaneous Goods and Services at 2.6 percent.
 

 

2. Davao Region Food Inflation

The Food inflation for the Bottom 30% Income Households at the regional level decreased to 1.7 percent in November 2024, from 4.4 percent in the previous month. In November 2023, the Food inflation was higher at 8.3 percent. (Table 3)

The main contributors to the downtrend of overall food inflation in the region in November 2024 were Cereals and Cereal Products at 0.0 percent from 6.6 percent; Fish and Other Seafood at 5.3 percent from 6.7 percent; Milk, Other Dairy Products and Eggs at 3.5 percent from 5.1 percent; Fruits and Nuts at 6.8 percent from 11.1 percent; and Ready-Made Food and Other Food Products N.E.C. at 6.4 percent from 6.7 percent.

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

a.    Oils and Fats at 16.9 percent from 9.5 percent;
b.    Vegetables, Tubers, Plantains, Cooking Bananas and Pulses at 0.9 percent from -3.0 percent; and
c.    Sugar, Confectionery, and Desserts at -7.8 percent from -10.3 percent.                        

Meanwhile, Meat and Other Parts of Slaughtered Land Animals, at 0.9 percent, is the only commodity group that retained its previous month’s inflation.
 

 

3. Regional Inflation Rates

At the national level, the country's inflation for the bottom 30% income households decreased to 2.9 percent from 3.4 percent in the previous month. (Table 4)

Among the 17 administrative regions, Region II (Cagayan Valley) had the highest inflation at 3.9 percent followed by Region V (Bicol Region) at 3.8 percent and Region VI (Western Visayas) at 3.7 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
 

 

 

Davao Region Summary Inflation Report Consumer Price Index (2018=100) November 2024

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