DAVAO CITY – Davao Region’s year-on-year headline inflation slowed down to 4.4 percent in January this year from 5.3 percent in the previous month, the regional Philippine Statistics Authority (PSA-11) office said Monday.
In a statement, PSA-11 said the region’s inflation was higher, at 9.4 percent in January last year.
It attributed the decrease in the region’s overall inflation primarily to the slower annual growth rate in the index of food and non-alcoholic beverages at 7.4 percent from 8.5 percent in the previous month.
The slower annual increments of housing, water, electricity, gas and other fuels at -2.9 percent from -1.9 percent, and transport at 0.2 percent from 1.5 percent in the previous month, contributed to the downward trend of the regional headline inflation.
In January this year, lower annual increments were also noted in the indices in commodity groups such as alcoholic beverages and tobacco at 12 percent from 12.2 percent; clothing and footwear (5.5 percent from 5.8 percent); and furnishings, household equipment, and routine household maintenance (4.1 percent from 4.7 percent).
Decreases were also observed in health (4.2 percent from 4.5 percent); recreation, sport, and culture (6.4 percent from 6.5 percent); restaurants and accommodation services (10.2 percent from 10.7 percent); financial services (0.1 percent from 0.0 percent); and personal care and miscellaneous goods and services (4.6 percent from 5 percent).
“(Nevertheless), the commodity group of Information and Communication at 0.9 percent displayed a faster annual growth rate than 0.8 percent in the previous month. Also, the index for education services retained the previous month’s inflation rate at 4 percent,” PSA-11 said.
On the other hand, the region’s food inflation decelerated to 7.5 percent in January 2024 from 8.6 percent in the previous month.
“In January 2023, the food inflation was higher at 10.0 percent,” the statement added.
The main drivers in the decrease of food inflation in the region in January 2024 were the commodity group of vegetables, tubers, plantains, cooking bananas and pulses at -10.8 percent from -0.6 percent in the previous month. (PNA)
