The Davao Occidental headline inflation rate for the bottom 30% income households declined further to 6.6 percent in August 2024 from 7.6 percent in July 2024. In August 2023, the inflation rate was lower at 4.7 percent.(Table A and Figure 1)

The main driver of the downward trend of the overall inflation for this income group in August 2024 was the slower year-on-year growth of the following commodity groups;
a. Food and non-alcoholic beverages, from 12.0 percent to 9.3 percent;
b. Clothing and footwear, from 4.6 percent to 4.4 percent;
c. Alcoholic beverages and tobacco, from 0.4 percent to 0.1 percent; and
d. Transport, from 3.8 percent to negative 0.5 percent.

In contrast, higher annual growth rates were noticed in the following commodity groups;
a. Recreation, sport and culture, from 9.5 percent to 10.5 percent;
b. Furnishing, household equipment and routine household maintenance, from 2.4 percent to 2.8 percent;
c. Health, from 1.9 percent to 2.4 percent; and
d. Housing, water, electricity, gas and other fuels, from negative 6.0 percent to negative 1.0 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 declined further to 9.6 percent in August 2024 from 12.3 percent in the previous month. In August 2023, the inflation rate was lower at 4.6 percent.

The downward trend in the food inflation were contributed by the following food groups;
a. Cereals and cereal products from 22.8 percent to 19.0 percent;
b. Fish and other seafood from 7.7 percent to 4.3 percent;
c. Vegetables, tubers, plantains, cooking bananas and pulses from negative 3.1 percent to negative 9.1 percent; and
d. Sugar, confectionery and desserts from negative 18.2 percent to negative 19.7 percent.

In contrast, compared with their previous month’s inflation rates, higher annual growth rate was observed in the following commodity groups;
a. Oils and fats from 10.1 percent to 19.2 percent;
b. Ready-made food and other food products n.e.c. from 6.4 percent to 8.3 percent;
c. Milk, other dairy products and eggs from 4.7 percent to 5.6 percent; and
d. Meat and other parts of slaughtered land animals from 3.5 percent to 3.7 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:


MUNRIA L. BANTO
(Supervising Statistical Specialist)
Officer-in-Charge