Davao Region Sees Rise in September Inflation

October 17, 2023
DAVAO CITY – The Philippine Statistics Authority in Region 11 (PSA-11) reported on Tuesday that Davao Region experienced an inflation rate of 5.4 percent in September, marking an increase from August’s 3.9 percent. However, this remains below the 9.6 percent recorded in September 2022.

A primary factor behind the inflation uptick was the faster growth in food and non-alcoholic beverage prices, which rose to 8 percent from 6 percent the previous month, according to PSA-11.

The report also highlighted quicker price increases in the sectors of housing, water, electricity, gas, and other fuels, which saw rates of -1.1 percent in September, an improvement from -2.4 percent in August. Similarly, restaurants and accommodation services jumped to 9.5 percent from 6.8 percent.

Other areas that witnessed higher annual increases included transport, which went up to 1.5 percent from -0.3 percent; personal care and miscellaneous goods and services at 6.4 percent from 6.1 percent; and alcoholic beverages and tobacco at 15.2 percent, up from 14.7 percent. Marginal increases were also observed in furnishings, household equipment, education services, and recreation-related sectors.

Conversely, health and information and communication sectors experienced a decline in growth rates, with 5.3 percent from 5.7 percent and 1.3 percent from 1.7 percent, respectively. The inflation rates for clothing, footwear, and financial services remained unchanged.

The main contributors to the September inflation were food and non-alcoholic beverages, with a 64.4 percent share; restaurants and accommodation services with a 13.9 percent share; and alcoholic beverages and tobacco at 6.4 percent.

In terms of food inflation specifically, the region saw a rise to 8.0 percent this September, up from 5.8 percent in August. For comparison, September 2022 had a notably higher food inflation rate at 10.8 percent.

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