Release Date :
Reference Number :
SRDDN2024-035
SPECIAL RELEASE
Summary Inflation Report
Consumer Price Index: Davao del Norte
(2018=100)
November 2024
Inflation rate of Davao del Norte increased by 0.3 percentage points (2018=100) in November 2024
Table A. Year-on-Year Inflation Rates: All Items in Percent Philippines, Region 11, and Davao del Norte November 2023, October – November 2024 | ||||
Area | November | October | November | Year-to-Date* |
Philippines | 4.1 | 2.3 | 2.5 | 3.2 |
Region 11 | 4.9 | 2.4 | 2.2 | 4.2 |
Davao del Norte | 3.2 | 1.1 | 1.4 | 2.9 |
Year-on-year change of average CPI for January to November 2024 vs. 2023 Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority | ||||
Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority
1. Inflation in Davao del Norte
The headline inflation of Davao del Norte decreased by 1.8 percentage points in November 2024 (1.4%) compared to its inflation rate in the same month last year, which was recorded at 3.2 percent. The current inflation rate (1.4%) of the province is lower compared to the headline inflation of the Philippines and Davao Region which was recorded at 2.5 percent and 2.2 percent, respectively (Table A).
The average inflation of Davao del Norte for the year 2024 stood at 2.9 percent (Table B).
Table B. Year-on-Year Inflation Rates in Davao del Norte: All Items in Percent January 2021 – November 2024 | ||||
Month | 2021 | 2022 | 2023 | 2024 |
January | 2.5 | 5.6 | 6.9 | 1.0 |
February | 2.8 | 3.9 | 6.5 | 3.5 |
March | 2.9 | 4.0 | 6.0 | 3.2 |
April | 2.7 | 4.7 | 4.2 | 4.1 |
May | 3.3 | 4.7 | 3.1 | 4.9 |
June | 3.6 | 5.7 | 2.5 | 3.4 |
July | 4.2 | 7.1 | 1.3 | 4.7 |
August | 4.7 | 6.9 | 1.6 | 3.8 |
September | 4.1 | 7.4 | 3.4 | 1.1 |
October | 4.3 | 7.2 | 2.8 | 1.1 |
November | 4.2 | 7.0 | 3.2 | 1.4 |
December | 4.3 | 6.6 | 2.9 |
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Average | 3.6 | 5.9 | 3.7 | 2.9 |
Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippine Statistics Authority | ||||
2. Contribution to the Inflation
Table C showed that the November 2024 inflation of Davao del Norte was mostly contributed by the indices of food and non-alcoholic beverages (2.8%); furnishings, household equipment and routine household maintenance (3.7%); and alcoholic beverages and tobacco (4.1%).
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Commodity Group | November | October | November | Contribution to Inflation | |
ALL ITEMS | 3.2 | 1.1 | 1.4 | 100.0 | |
Food and non-alcoholic beverages | 7.0 | 3.0 | 2.8 | 96.8 | |
Alcoholic beverages and tobacco | 12.0 | 4.4 | 4.1 | 5.8 | |
Clothing and footwear | 5.4 | 0.7 | 0.4 | 0.9 | |
Housing, water, electricity, gas and other fuels | (7.3) | (1.3) | 0.4 | 5.5 | |
Furnishings, household equipment and routine household maintenance | 4.8 | 4.6 | 3.7 | 6.7 | |
Health | 1.8 | 2.9 | 2.7 | 4.8 | |
Transport | 3.3 | (4.8) | (3.5) | (26.6) | |
Information and communication | 0.6 | 0.0 | 0.0 | 0.0 | |
Recreation, sport and culture | 4.9 | 1.9 | 1.7 | 0.8 | |
Education services | 4.6 | 0.4 | 0.4 | 0.3 | |
Restaurants and accommodation services | 1.4 | (0.1) | (0.1) | (0.5) | |
Financial services | 0.0 | (0.1) | (0.1) | (0.0) | |
Personal care, and miscellaneous goods and services | 5.1 | 2.1 | 1.8 | 5.5 | |
Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority
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3. Share to the Trend of Inflation
Table D. Share to the Uptrend of Inflation in Davao del Norte: All income Households in Percent (2018=100) | ||||
Commodity Group | November | October | November | Share to Uptrend |
ALL ITEMS | 3.2 | 1.1 | 1.4 | 100.0 |
Food and non-alcoholic beverages | 7.0 | 3.0 | 2.8 |
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Alcoholic beverages and tobacco | 12.0 | 4.4 | 4.1 |
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Clothing and footwear | 5.4 | 0.7 | 0.4 |
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Housing, water, electricity, gas and other fuels | (7.3) | (1.3) | 0.4 | 70.1 |
Furnishings, household equipment and routine household maintenance | 4.8 | 4.6 | 3.7 |
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Health | 1.8 | 2.9 | 2.7 |
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Transport | 3.3 | (4.8) | (3.5) | 29.9 |
Information and communication | 0.6 | 0.0 | 0.0 |
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Recreation, sport and culture | 4.9 | 1.9 | 1.7 |
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Education services | 4.6 | 0.4 | 0.4 |
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Restaurants and accommodation services | 1.4 | (0.1) | (0.1) |
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Financial services | 0.0 | (0.1) | (0.1) |
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Personal care, and miscellaneous goods and services | 5.1 | 2.1 | 1.8 |
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Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority | ||||
The increment in the inflation rate of Davao del Norte can be observed with its upward trend from 1.1 percent in October 2024 to 1.4 percent in November 2024. This trend is mainly contributed by the faster annual increase of the price index for housing, water, electricity, gas and other fuels from a rate of -1.3 percent in October 2024 to 0.4 percent in November 2024. This is followed by the slower price decrease of transport (from -4.8% to -3.5%). (Table D).
It can also be observed that the commodities for information and communication; education services; restaurants and accommodation services; and financial services has shown no sign of increase nor decrease in inflation rate in comparison to their corresponding rates in the last month.
The inflation of the index for food decreased from 3.2% in October 2024 to 2.9% in November 2024. The downtrend of the food inflation was mostly attributed by the slower annual increase in the price indices of rice and fruits and nuts (Table E).
Table E. Share to the Downtrend of Food Inflation in Davao del Norte: All income Households in Percent (2018=100) | ||||
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Commodity Group | November | October | November | Share to |
FOOD | 7.4 | 3.2 | 2.9 | 100.0 |
Rice | 20.4 | 7.4 | 2.4 | 76.1 |
Corn | 3.3 | 7.2 | 5.1 | 2.8 |
Flour, Bread and Other Bakery Products, Pasta Products, And Other Cereals | 7.3 | 3.1 | 2.9 | 2.0 |
Meat and other parts of slaughtered land animals | 0.1 | 1.0 | 2.2 |
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Fish and other seafood | 5.0 | 3.4 | 3.7 |
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Milk, other dairy products and eggs | 2.3 | 3.2 | 3.4 |
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Oils and fats | 0.1 | (4.0) | (3.6) |
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Fruits and nuts | 25.5 | 16.4 | 5.7 | 19.2 |
Vegetables, tubers, plantains, cooking bananas and pulses | 3.0 | (10.2) | 2.9 |
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Sugar, confectionery and desserts | (9.3) | (1.9) | (0.5) |
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Ready-made food and other food products n.e.c. | 4.2 | 3.2 | 3.7 |
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Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority | ||||
4 Davao del Norte’s Inflation Rate vis-à-vis other Provinces of Davao Region
Table F. Inflation Rate by Province for All Income Households: | ||||
|---|---|---|---|---|
Area Name | November | October | November | Trend |
Davao Region | 4.9 | 2.4 | 2.2 | Down |
DAVAO DEL NORTE | 3.2 | 1.1 | 1.4 | Up |
DAVAO CITY | 6.3 | 2.4 | 2.0 | Down |
DAVAO DEL SUR | 1.6 | 4.3 | 4.1 | Down |
DAVAO ORIENTAL | 6.7 | 1.6 | 1.1 | Down |
DAVAO DE ORO | 5.1 | 2.4 | 1.6 | Down |
DAVAO OCCIDENTAL | 4.5 | 3.3 | 3.3 | Equal |
Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority | ||||
Among the five provinces and one HUC of Davao Region, Davao Oriental has the slowest recorded inflation rate in November 2024 with 1.1 percent. This was followed by Davao del Norte (1.4%), Davao de Oro (1.6%), Davao City (2.0%),
Davao Occidental (3.3%), and Davao del Sur (4.1%) (Table F).
5. Purchasing Power of Peso
The Purchasing Power of Peso (PPP) measures the current value of the peso in reference to its value in the base year. It has an inverse relationship with the Consumer Price Index (CPI) which means that if the CPI increases, the PPP decreases.
Figure 2 showed that the PPP for the province of Davao del Norte decreased and was recorded at 0.82 in November 2024 from 0.83 in October 2024. This suggests that Php100.00 in 2018 is currently valued at PhP82.00.
Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index Philippine Statistics Authority
Technical Notes Consumer Price Index (CPI). An indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by households relative to a base year. Based Period. A reference date at which the index is equal to 100. The Base year is 2018. Inflation Rate. The rate of change of the CPI expressed in percent. It is interpreted in terms of declining purchasing power of peso. Purchasing Power of Peso. The measure of how much the peso in the base period is worth in the current period. Note: Consumer Price Indices (CPI) and inflation rates by province and selected cities are posted at the PSA website (https://openstat.psa.gov.ph/).
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Approved for Release:
PEPITO D. AMOYEN
Chief Statistical Specialist
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