Thursday, December 09, 2021

Davao inflation rate remains steady

File photo

DESPITE the acceleration of the country’s inflation in June, inflation in Davao Region is at a steady pace.

The Philippine Statistics Authority (PSA) noted a stable inflation rate in June at 1.9 percent and was mainly attributed to the absence of movement in the education index.

Inflation rates in Davao de Oro and Davao del Norte also decreased in June at 2.6 percent and 2.9 percent, respectively.

Meanwhile, the inflation rates of the other two provinces picked up with Davao del Sur at 1.7 percent from 1.6 percent in May and Davao Oriental at 1.8 percent from 1.2 percent in the previous month.

The PSA also noted a decrease in the yearly inflation in health at 3.3 percent, furnishing, household equipment and routine maintenance of the house at 3.9 percent; and restaurant and miscellaneous goods and services at 1.8 percent.

Transport, however, registered a significant annual growth rate at -0.9 percent as well as housing, water, electricity, gas and other fuels at an annual increase of 0.6 percent.

Other indices that have posted higher annual rates are vegetables at 2.3 percent from a -3.8 percent in May 2020 and fruits at 15.1 percent from 12.1 percent in the previous month.

But food items such as food products, N.E.C.; fish; and sugar, jam, honey, chocolate and confectionery showed a significant annual decrease in their indices at 4.2 percent, 3.0 percent, and -5.9 percent, each.

The communication index kept its previous month’s annual rate at 0.9 percent.


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