Inflation in Davao region remains stable at 2.2 percent

Published May 22, 2020, 12:00 AM

by manilabulletin_admin

By Antonio Colina IV

DAVAO CITY – Inflation in the Davao Region remained stable at 2.2-percent in April 2020, sustaining the same level recorded in March this year, according to the Philippine Statistics Authority (PSA).

The agency attributed the region’s steady inflation rate to the decrease in the transport index at -6.2-percent while indices of other commodity groups remained stable such as housing, water, electricity, gas, and other fuels at 0.9 percent; restaurant and miscellaneous goods and services, 2.8-percent; and clothing and footwear, 3.8-percent.

It added the inflation in the region in April was lower compared to the same period last year by 3.9-percent.

It added the indices of commodity groups such as education, and recreation and culture, both posted a growth rate of 3.1, and communication at 2.8 percent. It added index food and non-alcoholic beverages posted an annual increment of 2.9-percent last month.

Among the region’s provinces, Davao del Sur and Davao Oriental posted 1.5-percent inflation rate; Davao del Norte, 3.4-percent; and Davao de Oro, 3.9-percent. The PSA did not provide data for Davao Occidental

The PSA said the indices of corn (-1.5 percent), rice (-0.2 percent), and bread & cereals (0.6 percent) were relatively higher with respect to their previous month’s annual rates of -10.4 percent, -7.0 percent, and 5.0 percent, respectively. On the contrary, slower annual increments were reported in the indices of fish at 8.7 percent, vegetables at -7.1 percent, and meat at 2.6 percent.