October inflation rate highest in Davao region at 9.8%

Trade officials inspect commodity prices at a mall in Davao City. Mindanews file photo

DAVAO CITY (MindaNews/November 04) – The Davao region posted an inflation rate of 9.8% in October, the highest among 17 regions in the country, according to a report released Friday by the Philippine Statistics Authority. (PSA).

Based on the inflation summary report’s consumer price index, PSA said the region’s inflation rate accelerated further from the 9.6 percent reported in September.

The region includes the provinces of Davao del Oro, Davao del Norte, Davao del Sur, Davao Occidental, Davao Oriental and Davao City.

The inflation rate for the whole country in October was 7.7%.

The PSA said the increase in the inflation rate in the region was largely caused by the movement in the prices of alcoholic beverages and tobacco to 12.2% from 10.3%, and food and non-alcoholic beverages at 11.7% against 10.5% in September.

Mackie Macalipes, head of the city’s economic enterprise, told Davao City Disaster Radio (DCDR 87.5) on Friday that the opening of the Davao Food Terminal 24/7 complex at Barangay Daliao, Toril in Davao City on October 18 will help to stabilize the prices of vegetables and fruits on local markets because local retailers could obtain supplies at a lower price.

According to the city’s information office, “All fruits and vegetables from neighboring areas will be channeled through the DFTC before reaching retail markets” such as Agdao, Bankerohan, Buhangin, Piapi, Matina Crossing, Calinan, Toril , Sasa and Tibungco” facilitating price control by the local government.

According to the agency, clothing and footwear recorded a slight increase in October to 4.7% against 4.4% in September; furnishings, household equipment and day-to-day household maintenance at 6.5% versus 5.9%; and health at 5.3% compared to 5% in the region.

However, the cost of housing, water, electricity, gas and other fuels fell from 9.3% to 8.4% last month in the region.

The Zamboanga Peninsula inflation rate posted the second highest inflation rate in the country at 9.0% in October, although it improved from the 9.6% recorded in September.

Meanwhile, Bangsamoro Autonomous Region in Muslim Mindanao and Region 12 recorded the country’s lowest inflation at 6.5 percent last month, while Northern Mindanao and Caraga recorded 7.2 respectively. % and 7.8%. (Antonio L. Colina IV/MindaNews)

Edward N. Arrington