DAVAO DEL SUR

The November 2023 headline inflation in Davao del Sur decreased to 1.6 percent which is 1.0 percentage points lower than the October 2023 inflation rate. Moreover, this inflation rate is 9.8 percentage points lower than the inflation rate in November 2022 posted at 11.4 percent. Also, it is the lowest recorded inflation rate since January of 2023. The average inflation for the year’s eleven months stood at 5.0 percent. (Table A and Figure 1).

The decrease in Davao del Sur’s inflation rate was mainly brought about by the decrease in the Housing, Water, Electricity, Gas and Other Fuels index to negative 3.7 percent from 1.4 percent in the previous month. It contributed 59.1 percent to the inflation trend which is the highest. Also, there was a decrease in the inflation rate of Transport to negative 4.6 percent from 0.6 percent in the previous month. It contributed 22.7 percent, the second-highest share in the inflation trend. Following that, the inflation rate of Restaurants and Accommodation Services decreased to 0.2 percent from 4.6 percent in the previous month. It contributed the third highest share in the inflation trend with 15.2 percent.

Moreover, the annual upticks of the following indices also decreased:

a. Furnishings, Household Equipment and Routine Household Maintenance, 1.8;

b. Health, 3.1 percent;

c. Clothing and Footwear, 0.8 percent; and

d. Alcoholic Beverages and Tobacco, 12.3 percent.

On the other hand, the inflation rate of the following indices increased:

a. Food and Non-Alcoholic Beverages, 4.4 percent;

b. Recreation, Sport and Culture, 3.8 percent; and

c. Personal Care, and Miscellaneous Goods and Services, 1.2 percent.

Meanwhile, the annual upticks of Information and Communication, Education Services, and Financial Services remained the same at 0.0 percent, 1.8 percent, and 0.0 percent, respectively.

The inflation rate of the Food Index increased to 4.0 percent from 2.4 percent in October 2023. Moreover, the inflation rate of the food index Cereals and Cereal Products also increased to 13.7 percent from 9.3 percent in the previous month. This contributed 76.2 percent, which is the highest share in the food group’s inflation trend. Also, the inflation rate of Milk, other dairy products and eggs (ND) increased to 16.0 percent from 12.9 percent in the previous month. This contributed 12.2 percent to the food group’s inflation trend which is the second-highest share. Next to that, the annual upticks for Meat and other parts of slaughtered land animals (ND) also rose to 2.1 percent from 1.1 percent in the previous month. This contributed 7.4 percent to the food group’s inflation trend which is the third-highest share. Additionally, the inflation rate of Vegetables, tubers, plantains, cooking bananas and pulses (ND) increased to 1.9 percent from 0.7 percent in the previous month, it shared 4.2 percent with the food group’s inflation trend which is the fourth-highest share.

On the other hand, the inflation rate of the following food groups decreased:

a. Fish and other seafood (ND), negative 11.7;

b. Oils and fats (ND), negative 19.0 percent;

c. Fruits and nuts (ND), 18.3 percent;

d. Sugar, confectionery and desserts (ND), negative 8.0 percent; and

e. Ready-made Food and Other Food Products n.e.c., 8.4 percent.

In addition, the November 2023 Purchasing Power of Peso (PPP) in Davao del Sur is 0.80, which is the same as the previous month’s PPP. In November 2022, the PPP is at 0.82. (Figure 2)

Technical Notes:

Consumer Price Index (CPI) - The CPI is 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.

Inflation Rate (IR) - The inflation rate is the annual rate of change, or the year-on-year change of the CPI expressed in percent. Inflation is interpreted in terms of the declining purchasing power of money.

Headline Inflation - measures changes in the cost of living based on movements in the prices of a specified basket of major commodities. It refers to the annual rate of change or the year-on-year change in the Consumer Price Index (CPI).

Purchasing Power of the Peso (PPP) - The purchasing power of the peso shows how much the peso in the base period is worth in the current period. It is computed as the reciprocal of the CPI for the period under review multiplied by 100.

Approved for Release:    
 

(SGD) ROGELIO T. LEBRIA    
Chief Statistical Specialist    
Davao del Sur Provincial Statistical Office