DAVAO Region’s inflation rate for the bottom 30 percent income households dropped to 1.1 percent in December 2024, down from 1.9 percent in November 2024, according to the Philippine Statistics Authority-Davao Region (PSA-Davao) on January 7, 2025.
This decline was mainly attributed to slower price increases in essential goods, particularly in food and non-alcoholic beverages, which saw a 0.4 percent growth, down from 1.8 percent the previous month. Other factors contributing to the inflation moderation include lower price hikes in key commodity groups.
Clothing and footwear inflation slightly decreased from 3.3 percent to 3.2 percent, while housing, water, electricity, gas, and other fuels dropped to 0.7 percent from 1.8 percent. The Recreation, Sport, and Culture sector also saw a slight decline in inflation, from 7.1 percent to 6.9 percent.
In December 2023, the region's inflation rate was 4.5 percent, with Davao City showing the most significant drop, from 8.5 percent to 2.2 percent. Other areas, including Davao del Sur (2.8 percent, down from 3.7 percent), Davao Occidental (-0.7 percent, down from 4.7 percent), and Davao de Oro (0.4 percent, down from 3.3 percent), also recorded lower inflation rates.
Food inflation eased to 0.2 percent in December 2024, from 1.7 percent in November, driven mainly by a sharp decrease in cereal and cereal product inflation, which shifted from 0 percent to -3.8 percent.
Meanwhile, fish and other seafood saw a 4.4 percent price increase (down from 5.3 percent), and fruit and nut inflation slowed to 2.5 percent from 6.8 percent.
Davao Region’s inflation rate remains relatively low compared to other regions, with Region II (Cagayan Valley) leading at 4.8 percent, Region IV (Calabarzon) at 3.8 percent, and Region VI (Western Visayas) at 3.7 percent. Region XII (Soccsksargen) posted the lowest rate at 1.0 percent.
This continued downtrend in inflation offers relief to consumers, especially those in lower-income households, as it signals more stable prices in the region. DEF