Inflation for Davao Region’s poorest households climbs to 6.1% in May

Drone shot by Mark Perandos
Drone shot by Mark Perandos

The Philippine Statistics Authority (PSA) Region 11 (Davao Region) reported an inflation rate increase for the bottom 30 percent of income households to 6.1 percent in May 2024, up from 5.5 percent in April 2024. 

This rate, though higher month-over-month, remains lower than the 7.0 percent recorded in May 2023.

The primary driver for this increase was the housing, water, electricity, gas, and other fuels index, which showed an improved decline, moving to -7.8 percent from -10.2 percent the previous month. This suggests a slower rate of deflation in these categories, contributing to overall inflationary pressure.

Significant contributors to the inflation hike were the food and non-alcoholic beverages index, which rose to 11.1 percent from 10.6 percent, and the transport index, which slightly increased to 4.4 percent from 4.3 percent.

Despite these increases, several commodity groups experienced lower annual increments. 

The alcoholic beverages and tobacco index dropped from 5.9 percent to 5.1 percent, clothing and footwear decreased from 4.8 percent to 4.6 percent, furnishings, household equipment, and routine household maintenance fell from 3.7 percent to 3.3 percent, health declined from 2.5 percent to 2.4 percent, and recreation, sport, and culture decreased from 9.1 percent to 8.7 percent.

Moreover, some commodity groups retained their inflation rates from the previous month, including the Information and Communication index at -0.2 percent, education services at 3.9 percent, restaurants, and accommodation services at 6.2 percent, financial services at -0.1 percent, and personal care and miscellaneous goods and services at 3.6 percent.

These fluctuating trends in various categories highlight the complex factors influencing the cost of living for the lowest 30 percent income households in the Davao Region. KBP


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