Saturday, September 25, 2021

Davao's inflation rate stable at 4.1%

Infographic by PSA-Davao

THE inflation rate of Davao Region remained stable at 4.1 percent in June 2021 following the decline in the transport index.

"The steady inflation of the region was partly attributed to the Transport index which declined at 8.5 percent from 12.5 percent in May 2021," Philippine Statistics Authority-Davao (PSA-Davao) said in a statement on July 14, 2021.

It added to the slowdown for Alcoholic Beverages and Tobacco (7.1 percent in June from 7.7 percent in May) and Clothing and Footwear (1.5 percent from 1.6 percent).

The agency, meanwhile, noted higher inflation for Communication (1.0 percent from 0.3 percent), Food and Nonalcoholic Beverages (4.3 percent from 3.7 percent), Recreation and Culture (-0.1 percent from -0.7 percent), and Furnishing, Household Equipment and Routine Maintenance of the House (3.2 percent from 2.8 percent).

PSA-Davao also said the index of Education remained at 0.1 percent, since November 2020.

In terms of food items, corn recorded the highest inflation rate at 6.1 percent in June 2021 from 0.8 percent in May 2021. PSA-Davao added that notable increases were also recorded in the indices for Vegetables (-4.1 percent from 7.6 percent), Food Products, N.E.C (-1.8 percent from -4.5 percent), and Bread and Cereals (-2.2 percent from -3.5 percent).

PSA-Davao also recorded a drop in the inflation of fish and fruits.

Indices for fish declined to 12.2 percent from 14.3 percent while fruits slowed down to -13.8 percent from -11.6 percent.

Meanwhile, while the inflation rate in Davao Region remains stable, PSA-Davao noted a slight increase for Davao de Oro (4.3 percent from 4.2 percent), Davao del Norte (3.4 percent from 3.2 percent), and Davao del Sur (3.7 percent from 3.6 percent).

Only Davao Oriental recorded a decline in inflation from 8.0 percent in May to 7.7 percent in June. However, the province remains to have the highest inflation rate in the region.

Inflation rates for Davao Occidental and Davao City were not computed because they are "not included in the 2012-based consumer price index."


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