DAVAO CITY: Davao Region’s inflation rate for the bottom 30 percent income households increased to 6.1 percent in May from 5.5 percent in the previous month, the Philippine Statistics Authority in Davao Region (PSA-11) reported Thursday.
In its bulletin, PSA-11 noted that the region’s inflation was higher in May last year at 7 percent.
The agency said the uptrend was due to the faster annual growth in the index of housing, water, electricity, gas, and other fuels, which was -7.8 percent from -10.2 percent in the previous month.
‘Additionally, the faster annual increments of food and non-alcoholic beverages is at 11.1 percent from 10.6 percent, and transport at 4.4 percent from 4.3 percent,’ PSA-11 added.
On the other hand, lower annual increments were noted in the indices of different commodity groups during the period, including alcoholic beverages and tobacco at 5.1 percent from 5.9 percent, clothing and footwear (4.6 percent from 4.8 percent),
Added to this are furnishings, household equipment, and ro
utine household maintenance, which increased by 3.3 percent from 3.7 percent, health (2.4 percent from 2.5 percent), and recreation, sport, and culture (8.7 percent from 9.1 percent).
‘The food inflation for the bottom 30 percent income households at the regional level increased to 11.4 percent in May 2024 from 10.9 percent in the previous month. In May 2023, the food inflation was lower at 6.7 percent,’ the agency said.
Main contributors to the overall inflation of food in the region last month are fish and other seafood at 7.6 percent from 5.7 percent, vegetables, tubers, plantains, cooking bananas, and pulses (11.7 percent from 8.9 percent), and oils and fats (-4.5 percent from -10.7 percent).
Other food groups that recorded faster inflation than in April 2024 were sugar, confectionery, and desserts at -4.6 percent from -5.5 percent and ready-made food and other products at 9.2 percent from 8.5 percent.
Source: Philippines News Agency