1. Regional Headline Inflation

The year-on-year headline inflation of Davao Region increased to 5.1 percent in July 2024, from 4.3 percent in June 2024. In July 2023, the region’s inflation was lower at 4.3 percent. (Table 1 and Figure 1).

The major contributor to the region’s overall inflation trend in July 2024 was the commodity group of Housing, Water, Electricity, Gas, and Other Fuels, at -0.2 percent from -2.9 percent in the previous month. Additionally, the commodity groups of Food and Non-Alcoholic Beverages, at 7.8 percent from 7.5 percent, and Education Services, at 9.8 percent from 4.0 percent, contributed to the region’s overall inflation uptrend.

Moreover, faster annual increments were noted in the indices of the following commodity groups during the month:

a.    Alcoholic Beverages and Tobacco at 5.3 percent from 5.2 percent;
b.    Furnishings, Household Equipment, and Routine Household Maintenance at 4.8 percent from 4.7 percent; 
c.    Transport at 4.0 percent from 3.2 percent; 
d.    Recreation, Sport, and Culture at 5.2 percent from 4.5; and
e.    Restaurants and Accommodation Services at 6.6 percent from 6.2 percent.

On the other hand, the commodity groups of Health, at 3.8 percent from 4.0 percent, and  Personal Care, and Miscellaneous Goods and Services, at 4.7 percent from 4.9 percent recorded lower annual growth rates during the month.

Meanwhile, three commodity groups retained its previous month’s inflation rate, to wit:

a.    Clothing and Footwear at 4.8 percent;
b.    Information and Communication at -0.3 percent; and
c.    Financial Services at -0.1 percent.
 

2. Davao Region Food Inflation

The region’s Food inflation accelerated to 8.1 percent in July 2024 from 7.8 percent in the previous month. In July 2023, the Food inflation was lower at 5.0 percent. (Table 3)

The main drivers in the increase of Food inflation in the region in July 2024 were the commodity groups of Fish and Other Seafood at 1.0 percent from -1.1 percent, Meat and Other Parts of Slaughtered Land Animals at 1.6 percent from -0.1 percent, and Vegetables, Tubers, Plantains, Cooking Bananas, and Pulses, at 14.8 percent from 11.4 percent.

Additionally, the following commodity groups contributed to the uptrend of Davao Region’s Food inflation in July 2024, to wit:

a.    Milk, Other Dairy Products, and Eggs, at 0.7 percent from -0.1 percent; and
b.    Ready-Made Food and Other Food Products N.E.C. at 9.9 percent from 9.4 percent.

On the other hand, the following commodity groups recorded lower inflation in July 2024 compared to June 2024:

a.    Oils and Fats at -0.7 percent from 0.6 percent;
b.    Fruits and Nuts at 14.7 percent from 20.8 percent; and
c.    Sugar, Confectionery, and Desserts, at -5.4 percent from -3.5 percent.
 

3. Regional Inflation Rates

At the national level, the country's headline inflation climbed to 4.4 percent in July 2024, from 3.7 percent in the previous month (Table 4).

Among the 17 administrative regions, Region X (Northern Mindanao) and BARMM had the highest inflation at 5.7 percent followed by Region IX (Zamboanga Peninsula) at 5.3 percent. On the other hand, Region I (Ilocos Region) had the lowest inflation at 3.3 percent. (Table 4 and Figure 2)
 

Note: CPIs and inflation rates by province and selected city are posted on the PSA website (https://openstat.psa.gov.ph/).

APPROVED FOR RELEASE:

RANDOLPH ANTHONY B. GALES
(Chief Statistical Specialist)
Officer-In-Charge
Regional Statistical Services Office 11