Release Date :
Reference Number :
SRDDN2022-032
Inflation rate in Davao del Norte is reported at 7.2 percent
(2018=100) in October 2022
Table A. Year-on-Year Inflation Rates, All Items in Percent
Philippines, Region 11 and Davao del Norte
October 2021, September – October 2022
1. Inflation in Davao del Norte
The headline inflation in Davao del Norte increased by 2.9 percent in October 2022 (7.2%) compared to its inflation rate in the same month last year, which was recorded at 4.3 percent. The current inflation rate (7.2%) of the province is lower compared to the headline inflation of the Philippines and Davao Region, which stood at 7.7 percent and 9.8 percent, respectively (Table A). The average inflation of Davao del Norte for the first ten months of the year 2022 stood at 5.7 percent (Table B).
Table B. Year-on-Year Inflation Rates in Davao del Norte
All Items in Percent
January 2019 – October 2022
2. Contribution to the Inflation
Table C showed that the October 2022 inflation of Davao del Norte is mostly contributed by the indices of food and non-alcoholic beverages (7.1%); housing, water, electricity, gas and other fuels (10.6%); and transport (9.5%).
Table C. Major Contributor to the Inflation in Davao del
Norte, All income Households in Percent (2018=100)
3. Share to the Trend of Inflation
Table D. Share to the Downtrend of the Inflation in Davao del Norte,
All income Households in Percent (2018=100)
The decrement in inflation rate of Davao del Norte can be observed with its
downward trend from 7.4 percent in September 2022 to 7.2 percent in October 2022.
This decrease is mainly contributed by the indices for housing, water, electricity, gas and other fuels,
from a rate of12.8 percent in September 2022 to 10.6 percent in October 2022.
This is followed by the indices of transport (from 13.1% to 9.5%),and alcoholic beverages and tobacco (from 9.5% to 7.9%).(Table D).
Despite the decrease of inflation rate in the province, an upward trend in October
2022 compared to their corresponding rates in September 2022 were
observed in Table D for the following commodities:
Food and non-alcoholic beverages (from 5.8 to 7.1)
Clothing and footwear (from 2.0 to 2.3)
Furnishings, household equipment and routine household maintenance (from 2.6 to 2.7)
Health (9.3 to 9.9)
Information and communication (from 0.6 to 0.9)
Recreation, sport and culture (from 3.1 to 3.5) It can also be observed that the commodities for education services; restaurants and accomodation services; financial services; and personal care, and miscellaneous goods and services has shown no sign of increase nor decrease in inflation rate in comparison to their corresponding rates last month. The index for food has also shown an upward trend from 5.9 percent in September 2022 to 7.4 percent in October 2022. The share to uptrend of the food inflation was mostly attributed by price indices of rice, vegetables, tubers, plantains, cooking bananas and pulses; and fruits and nuts (Table E.)
Table E. Share to the Trend of the Food Inflation in Davao del Norte
All income Households in Percent (2018=100)
4. 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
Cosumer 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 remained at
0.86 during the months of September and October 2022. This suggests that
Php100.00 in 2018 is currently valued at PhP86.00.
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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