Davao inflation up

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THE inflation rate in Davao Region for January 2020 has gone up to 2.2 percent.

Based on the data from the Philippines Statistics Authority (PSA)-Davao, it is a 0.2 percent increase of the 2.0 percent inflation in December 2019. However, the current inflation rate is lower than 4.4 percent inflation in January last year.

The current inflation has also pulled inflation rates of each province up.

Davao de Oro continued to note the highest inflation rate at three percent compared to other provinces. It is followed by the Davao del Norte with 2.7 percent, and Davao Oriental at 2.3 percent.

Davao del Sur posted a slight drop from 1.8 percent in December 2019 to 1.7 in January 2020. However, it registered the most significant inflation rate drop between January 2019 at 5.5 percent to January 2020 at 1.7 percent.

PSA considered the 3.0 percent annual increase in the price index of Housing, Water, Electricity, Gas, and Other Fuels from a 1.9 percent rate in December as the reason for this month's inflation rate increase.

Meat also posted a significant increase in its annual rate from 1.6 percent in December last year to 2.3 percent in January 2020.

However, the prices of meat products in Davao City especially pork have remained stable at P185 to P200 based on the February 5 report.

Meat vendors in Bankerohan Public Market said the prices did not change since January 20 amid looming African Swine Fever situation in the city.

Chicken meat vendors also said the prices of chicken meat have lowered in February.

Other commodities that have registered higher inflation are Alcoholic Beverages and Tobacco (13.8 percent), Transport (3.7 percent), and Clothing and Footwear (3.6 percent), Bread and Cereals (-6.6 percent), Corn (-10.3 percent), Vegetables (4.9 percent), Milk, Cheese, and Egg (2.7 percent), Sugar, Jam, Honey, Chocolate and Confectionery (-6.9 percent), and Oils and Fats (2.2 percent).


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