- Davao’s inflation rate accelerates to 7.5% in April: PSA XI
THE DAVAO Region’s inflation rate accelerated to 7.6% against 4.8% in March, the Philippine Statistics Authority (PSA) XI said in its online report.
During its online briefing on May 10, PSA XI regional director Randolph Anthony Gales attributed the primary source of acceleration to the year-on-year difference in the price of food and non-alcoholic beverages, accounting for 5.1 % inflation or 77.8% share.
This was followed by housing, water, electricity, gas, and other fuels at -3.0% inflation and a 19.9% share in the uptrend of the general inflation in the region.
Gales noted that transport was the third biggest source of the uptrend, particularly from gasoline and diesel.
“This community group recorded 4. 2 percent inflation and 16.0 percent share in the regional general inflation,” he added.
As for the food and non-alcoholic beverages, PSA XI reported that rice, fish and seafood, fruits (bananas), and nuts, contributed to the uptick. Restaurant and cafe accommodations also shared a 6.6% inflation in the region.
“Among the 11 food groups, five groups showed faster price increases in April 2024,” the report reads.
These include corn, fish, and other seafood such as tilapia, milk and other dairy products and eggs, vegetables, tubers, plantains, cooking bananas and pulses, particularly onions, red meat, and ginger.
Meanwhile, rice, flour, bakery products, pasta, and cereals showed a slower price movement.
