1. Average Inflation Rate of Davao del Norte 

The average inflation rate of Davao del Norte for the year 2024 was estimated at 2.8 percent – lower by 0.9 percentage points compared to the province’s average inflation rate of 3.7 percent in 2023 (Figure 1).

It can also be observed that in 2024, the average inflation rate of Davao del Norte was comparatively lower than the Philippines’ and Davao Region’s figure which was recorded at 3.2 and 4.0 percent, respectively.

2. Contribution to the Average Inflation Rate

Table A. shows that the top three contributors to the average inflation rate of Davao del Norte in 2024 are the indices of food and non-alcoholic beverages (5.2%); alcoholic beverages and tobacco (9.1%); and personal care, and miscellaneous goods and services (3.3%).

 Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippines Statistics Authority

3. Share to the Downtrend of the Average Inflation Rate

The decrement of the average inflation rate of Davao del Norte can be observed with its downward trend from 3.7 percent in 2023 to 2.8 percent in 2024. This decrease was mainly contributed by the slower average annual price increase of food and non-alcoholic beverages from an average inflation rate of 7.3 percent in 2023 to 
5.2 percent in 2024. This was followed by the indices of transport (from 1.6% to 0.6%), and health (from 6.7% to 2.5%) (Table B).

          Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index, Philippines Statistics Authority

Despite the decrease in the average inflation rate of Davao del Norte, an upward trend in 2024 can also be observed in Table B for the following indices:

•     Alcoholic beverages and tobacco (7.2% to 9.1%);

•     Clothing and footwear (3.1% to 3.3%);

•     Housing, water, electricity, gas and other fuels (-3.5% to -2.5%); and

•     Furnishings, household equipment and routine household maintenance (3.6% to 5.4%).

The index for food has shown a downward trend from an average inflation rate of 
7.6 percent in 2023 to 5.5 percent in 2024. This decrease is mainly contributed by the slower average annual price increase of fish and other seafood which recorded an average inflation rate of 2.3 percent in 2024 from a rate of 7.1 percent in 2023. This was followed by the indices for meat and other parts of slaughtered land animals (from 3.1% to -0.3%); and vegetables, tubers, plantains, cooking bananas and pulses (from 10.0% to 3.5%) (Table C).

           Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index,

      4.  Average 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.

It can be observed in Figure 2 that the average PPP of Davao del Norte is exhibiting a downward trend with its figure recorded at 0.82 in 2024. This suggests that Php100.00 in 2018 is valued at Php82.00 in 2024.

Approved for Release:

MICHELLE O. MANINGO

(Supervising Statistical Specialist)

Officer-in-Charge