January inflation rate in Davao Region stable at 4.1%

INFLATION rate of Davao Region remains to be at 4.1 percent (%) in January 2018 from December 2017, as per data of the Philippine Statistics Authority (PSA).

According to the PSA data most of the commodity group experienced higher increments including the Alcoholic Beverages and Tobacco (7.8% in January 2018 from 6.1% in December 2017), Clothing and Footwear (4.5% from 3.9%), Furnishing, Household Equipment, and Routine Maintenance of the House (4.3% from 4.1%), Health (4% from 3.5%), Housing, Water, Electrical Gas, and other Fuels (3.8% from 3.7%), Transport (3.3% from 2.6%), and Recreation and Culture (2.6% from 2.5%).

However the only commodity group that showed slower increment is the Food and Non-Alcoholic Beverages (4.7% from 5.1%).

The others maintained their December 2017 rates such as the Communication (0.3%), Education (2.7%), and the Restaurant and Miscellaneous Goods and Services (1.5%).

For January 2018, the province of Compostela Valley had the highest inflation rate at 4.8%, followed by Davao del Norte at 4.4%, Davao Oriental at 4.1%, and Davao del Sur at 3.4%.

The Purchasing Power of Peso (PPP) in the region had also decreased by 3 centavos to P0.61 from P0.64 of January 2017. Davao del Sur was noted to have the highest PPP at P0.64 followed by Compostela Valley (P0.61), and Davao del Norte and Davao Oriental with P0.59 PPP respectively.
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