The Davao Occidental headline inflation rate for the bottom 30% income households slightly decreased to 7.7 percent in March 2024 from 7.8 percent in February 2024. In February 2023, the inflation rate was posted at 10.6 percent. (Table A and Figure 1)

The main driver of the downward trend of the overall inflation for this income group in March 2024 was the slower year-on-year growth in the heavily weighted food and non-alcoholic beverages at 12.5 percent from 12.8 percent in the previous month. This was followed by alcoholic beverages and tobacco, which posted a lower annual increase of 15.1 percent during the month from 18.6 percent in February 2024, and clothing and footwear index, which registered slower annual increase of 3.5 percent in March 2024 from 4.1 percent annual increase in the previous month. Also, recreation, sport, and culture, recorded 8.6 percent inflation during the month from 8.9 percent inflation in February 2024.

In contrast, higher annual growth rates were noticed in the following commodity group;
a. Restaurant accommodation services with 23.3 percent from 19.3 percent;
b. Transport with 4.0 percent from 3.6 percent;
c. Health with 2.3 percent from 2.2 percent;
d. Furnishing, household equipment and routine household maintenance with 2.1 percent from 1.0 percent; and
e. Housing, water, electricity, gas and other fuels with negative 10.7 percent from negative 11.3 percent.

The indices of the rest of the commodity groups retained their respective previous month’s annual rates. (Tables B)

Food inflation for the bottom 30% income households at the provincial level moved slower pace of 12.8 percent in March 2024 from 13.1 percent in the previous month. In March 2023, its annual increase was observed at 11.2 percent.

The downward trend in the food inflation was mainly brought about by the lower inflation for cereals and cereal products, which includes rice, corn, flour, bread and other bakery products, pasta products, and other cereals with an inflation rate of 27.8 percent from 28.8 percent in February 2024. This was followed by milk, other dairy products, and eggs with an inflation rate of 8.9 percent during the month from 13.4 percent in the previous month. Another contributed to lower food inflation is fish and other seafood which is at 8.6 percent in March 2024 from 12.1 percent in the previous month, and ready-made food and other food products n.e.c with 1.0 percent during the month from 1.9 percent in February 2024. 

Meanwhile, compared with their previous month’s inflation rates, higher annual growth rates 
during the month were observed in the indices of the following;
a. Meat and other parts of slaughtered land animals from negative 6.6 percent to negative 4.1 percent;
b. Vegetables, tubers, plantains, cooking bananas and pulses from negative 7.0 percent to negative 6.5 percent;
c. Sugar, confectionery and desserts from negative 14.0 percent to negative 13.3percent; and
d. Oils and fats from negative 33.0 percent to negative 21.3 percent. (Table C)

Note: CPIs and inflation rates for the bottom 30% income households by region and province are posted at the PSA OpenSTAT portal at https://openstat.psa.gov.ph/PXWeb/pxweb/en/DB/DB__2M__PI__BIH__2018/?tablelist=true .

APPROVED FOR RELEASE:

JESSIE A. MADULIN
Chief Statistical Specialist