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 in Davao del Norte decreased by 0.5 percentage points in April 2023 (4.2%) compared to its inflation rate in the same month last year, which was recorded at 4.7 percent. The current inflation rate (4.2%) of the province is lower compared to the headline inflation of the Philippines and Davao Region, which stood at 6.6 percent and 7.5 percent, respectively (Table A).

The average inflation of Davao del Norte for the year 2023 stood at 6.5 percent (Table B).

Table C showed that the April 2023 inflation of Davao del Norte is mostly contributed by the indices of food and non-alcoholic beverages (7.2%); health (10.5%); and housing, water, electricity, gas and other fuels (0.7%). 

Table C. Major Contributor to the Inflation in Davao del Norte: All income Households in Percent (2018=100)

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

3.    Share to the Trend of Inflation

Table D. Share to the Downtrend of Inflation in Davao del Norte: All income Households in Percent (2018=100)

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

The decrement in the inflation rate of Davao del Norte can be observed with its downward trend from 6.0 percent in March 2023 to 4.2 percent in April 2023. This decrease is mainly contributed by the index for food and non-alcoholic beverages, from a rate of 9.8 percent in March 2023 to 7.2 percent in April 2023. This is followed by the indices of housing, water, electricity, gas and other fuels (from 2.4% to 0.7%), and transport (from 3.0% to 0.5%). (Table D).

Despite the decrease of inflation rate in the province, an upward trend in April 2023 compared to their corresponding rates in March 2023 were observed in Table D for the following commodities:

·      Clothing and footwear (from 1.9% to 2.3%)

·      Recreation, sport and culture (from 5.0% to 5.9%)

It can also be observed that the commodities for health; information and communication; education services; and financial 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 a downward trend from 10.1 percent in March 2023 to 7.2 percent in April 2023. The downtrend of the food inflation was mostly attributed by the lower annual increase in the price indices of vegetables, tubers, plantains, cooking bananas and pulses; fish and other seafood; and meat and other parts of slaughtered land animals (Table E.)

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