July inflation rate stable at 2.8%

THE inflation rate of Davao Region in July remained stable at 2.8 percent, the same rate last June.

The Philippine Statistics Authority (PSA)-Davao also noted that the inflation rate for July this year much lower to the 3.4 percent rate in the same period last.

Data from PSA also showed lower inflation in selected commodities.

Clothing and footwear has slowed down to 4.8 percent in July from 4.9 percent in June; alcoholic beverages and tobacco is at 4.7 percent from 4.8 percent; transport is at 3.3 percent from 3.5 percent; furnishing, household equipment, and routine maintenance of the house is at 2.3 percent from 2.6 percent; restaurant and miscellaneous goods and services is at 1.8 percent from from 2 percent; food and non-alcoholic beverages is at 1.7 percent from 1.9 percent; and recreation and culture is at 1.4 percent from 1.5 percent.

Higher gains were noted for housing, water, electricity, gas, and other fuels (5.8 percent in July from 5.5 percent in June) and health, which is at 4.6 percent from 4.5 percent. Communication and education remained at 1.3 percent and 2.7 percent, respectively.

Meanwhile, Davao del Norte recorded the highest inflation rate in Davao Region at 4.4 percent; followed by Compostela Valley (3.2 percent), Davao del Sur (1.9 percent), and Davao Oriental (1.4 percent).
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