The inflation in Davao Region went down by 0.2% to 2.2% in March, compared with the figure of the previous month.
In a press release, the Philippine Statistics Authority (PSA) – Davao Region bared that the inflation for the region declined mainly because of the reduction in transport index which went down to negative 1.6% on a year-on-year basis.
Public transportation has been heavily hit by the onslaught of the coronavirus disease 2019 (Covid-19) pandemic as most passenger vehicles have stopped plying their routes.
Other basic needs like health, housing, water, electricity, gas, and restaurants and miscellaneous goods and services also contributed to the slowing down of inflation.
The health index lowered its annual rate to 4.7% from 4.9%; housing, water, electricity, gas, and restaurants, lowered to 1.6% from 2.2%; and restaurants and miscellaneous goods and services has lowered to 3.2% from 3.3%.
Among the provinces, Davao Oriental continued to be the province with the lowest inflation as its rate lowered to 0.7% from 1.0% in February of the same year.
This was followed by Davao del Sur which had the highest decrease from 2.5% to 1.9%, Davao de Oro which increased to 2.8% from 2.6%, and Davao del Norte which had the highest increase from 3.7% from 2.6%.
The purchasing power of peso (PPP) in the region remained at 81 centavos based on the 2012 level, with Davao del Sur also having the highest peso value at 82 centavos, followed by Davao del Oro and Davao Oriental with 81 centavos, and Davao del Norte with 80 centavos.
- Xendit launches cardless installment option in PH
- Security Bank and Krungsri approve capital infusion to SB Finance
- Editorial Cartoon of the Day
- ADD’L DOSES | Top official: City may also receive Novavax vaccines
- Online campaign pushes for takeover of Nordeco areas
- Suspect in shabu arrested
- ROUGH CUTS | What could be Duterte’s legacy?
- PARADIGM SHIFT | ASEANS’s cheap talk on democracy
- BDO posts P28.2-B net income in 2020
- pandaTODA riders share their success stories