WASHINGTON: The Philippine Statistics Authority (PSA)in Davao Region reported that the inflation rate in April this year slowed down to 3.1 percent from 3.9 percent in March. The agency also said this is also lower than the recorded 3.2 percent inflation rate in April 2016. “The downtrend was primarily due to the declined inflation in most of the commodity groups,” PSA-Davao Region said in a statement.
Food and non-alcoholic beverages slowed to 2.0 percent in April from 3.2 percent in March, alcoholic beverages and tobacco at 4.9 percent from 5.5 percent; clothing and footware at 4.7 percent from 5.1 percent, housing, water, electricity, gas, and other fuels at 6.7 percent from 7.3 percent, furnishing, household equipment and routine maintenance of the house at 2.9 percent from 3.0 percent, communication at 1.2 percent from 1.3 percent, and recreation and culture at 1.5 percent from 1.6 percent. Slower increases were also recorded in health at 4.5 percent in April from 4.4 percent in March and transport at 3.0 percent from 2.7 percent.
The inflation rate for education remained the same at 2.6 percent together with restaurant and miscellaneous goods and services at 2.2 percent. In the region, Davao del Norte recorded the highest inflation rate at 4.9 percent, followed by Compostela Valley at 4.8 percent. and Davao del Sur and Davao Oriental, both at 1.3 percent. PSA-Davao Region also reported that the purchasing power in Davao Region decreased by P0.02 to P0.63 in April 2017 from P0.65 in the same period last year. The purchasing power in each province has also gone down, Davao del Norte is at P0.61 from P0.64, Davao del Sur at P0.66 from P0.67, Davao Oriental at P0.61 from P0.62;, and Compostela Valley at P0.66 from P0.63.
