THE PHILIPPINE Statistics Authority (PSA) XI noted a 6.1% increase in Davao Region’s inflation rate for the Bottom 30% Income Households in May, from 5.5% in the previous month.
According to their statement, the main source of acceleration was due to “the faster annual growth in the index of Housing, Water, Electricity, Gas, and other Fuels at -7% from -10.2% in the previous month.
“The faster annual increments of Food and Non-Alcoholic Beverages at 11.1% from 10.6% and Transport at 4.4% from 4.3%,” the statement reads.
Meanwhile, the food inflation for the bottom 30% of income households increased to 11.4% in May 2024 from 10.9% in the previous month. The statement also noted that the food inflation was lower at 6.7% in May 2023.
PSA XI said the main contributors to the increase were the overall inflation of Fish and other Seafood at 7.6% (from 5.7%), Vegetables, Tubers, Plantains, Cooking Bananas, and Pulses at 11.7% (from 8.9%); and Oils and Fats at -4.5% (from -10.7%).
On the other hand, Cereals and Cereal Products, Meat and Other Parts of Slaughtered Land Animals, Milk, Other Dairy Products, and Eggs, as well as Fruits and Nuts, are the following commodity groups that displayed a slower price movement.
The Bottom 30% Income Households, were also known as “households whose per capita income falls below the bottom 30 percent of the cumulative per capita distribution which also belongs to the low-income group.”
