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Region 11 inflation rate down to 3.2% in June

Inflation rate of the Davao Region went down to 3.2% in June from 3.7% the previous month, the regional office of the Philippine Statistics Authority reported Tuesday.

In June 2018, the regional inflation rate, or the change in prices of products and services, was at 5.4%.
The value of peso, based on the 2012 level, has remained 83 centavos in the region, the report said.

Of the five provinces in the region, only Davao del Norte exhibited an increase in inflation rate to 2.4% in June this year, from 2.1% during the previous month. However, the highest inflation rate in Davao del Sur during the month was still at 3.8%, although it was lower than the 4.7% it registered during the previous month.

The slowest growth in inflation was in Davao Oriental 1.4% in June from 1.6% the previous month.
The report attributed the slowdown in inflation rate mainly to transport which went down from 2.7% in May to 0.3% in June as well as housing, water, electricity, gas and other fuels which down to 5.9% in June from 7.8% in March.

“Commodity groups such as food, non-alcoholic beverages, restaurants, and miscellaneous goods and services likewise contributed to the region’s slower inflation,” it added.

Among those that contributed to higher inflation were health, recreation and culture, furnishing, household equipment and house routine maintenance, alcohol beverages and tobacco, clothing and footwear, and communication.

On food items, the biggest decline was in the prices of vegetables from 17.6% in May to 6.9% in June, the report added.

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