TAGUM CITY — The province of Davao del Norte registered the slowest inflation rate in September 2024 among the provinces and the chartered city economies in Davao Region.
In an online recent press conference conducted by the Philippine Statistical Authority (PSA), Chief Statistical Specialist Pepito D. Amoyen of PSA Davao del Norte presented the September 2024 Inflation Rate of the province at 1.1 percent which was 2.7 percent lower than the same data in August 2024.
The September Inflation Rate of Davao del Norte was even lower than the overall September Inflation Rate of Davao Region calculated at 2.8 percent.
All the provincial and chartered city economies of the Davao Region posted a downtrend inflation rate in September. Coming close to the 1.1 percent September Inflation Rate of Davao del Norte was Davao de Oro which posted 1.5 percent; Davao Oriental, 2.3; Davao City, 3.3; Davao Occidental, 3.6; and Davao del Sur, 4.7.
Heavily pulling down the inflation rate of Davao del Norte in September was the Housing, water, electricity, gas, and other fuels commodity group which shared 50.4 percent of the downtrend.
The Food and non-alcoholic beverages commodity group also contributed a substantial 37.5 percent to the decrease while the transport sector chipped in 10.1 percent.
The PSA defines headline inflation as the overall inflation rate in an economy, calculated by considering the inflation of various goods, including essential commodities like food and energy.
Meanwhile, PSA Davao del Norte also calculated the September Inflation Rate for “bottom 30 percent income households” pegged at 1.2 percent, which was almost the same level as the headline inflation rate of the same month.
The Housing, water, electricity, gas, and other fuel commodity groups pitched a 67.8 percent heaviest decrease of the inflation rate for the bottom 30 percent income households in the province.
Following the same downtrend contribution to the headline inflation rate of the province, the food and alcoholic beverages commodity group chipped in 27.2 percent to the decrease of the inflation rate for the bottom 30 percent of income households. PIA DAVAO