THE inflation rate in Davao Region remains the highest among all areas outside of the National Capital Region (AONCR) at 9.7 percent for November 2022.
Based on the Summary Inflation Report of the Philippine Statistics Authority (PSA) released on December 6, the 9.7 percent for November is already a slight decline from the 9.8 percent the previous month.
Last September, the inflation rate in the region was at 9.6 percent.
PSA data shows that the inflation at the AONCR was driven by an uptrend in the food and non-alcoholic beverages index at 9.7 percent from 9 percent in October 2022, as well as markups in other commodity groups.
Alcoholic beverages and tobacco is at 11.1 percent; clothing and footwear at 3.9 percent; furnishings, household equipment and routine household maintenance at 4.6 percent; health at 3.1 percent; information and communication at 0.9 percent, recreation, sport and culture at 3.5 percent; education services at 2 percent; and personal care and miscellaneous goods and services at 4.6 percent.
“Following the trend at the national level, inflation in AONCR rose to 8.0 percent in November 2022, from 7.6 percent in October 2022. In November 2021, the inflation rate in the area was recorded at 4.0 percent,” PSA said in a statement.
On the other hand, housing, water, electricity, gas and other fuels declined to 7.7 percent in November from 8.4 percent the previous month. Transport also declined to 13.4 percent from 15.3 percent.
Nationwide, the Philippines’ inflation rate accelerated to 8 percent in November from 7.7 percent in October, driven by higher growth rates of the food and non-alcoholic beverages index at 10 percent from 9.4 percent the previous month. ICM