INFLATION rate in Davao Region remains at 3.9 percent as of March this year as it was on February this year.
"The year-on-year change in the consumer price index of the region was higher by 3.9 percent on the average when compared to its prices for the same month in 2016," the Philippine Statistics Authority (PSA) in Davao Region said in their recent report.
Davao del Norte recorded the highest inflation rate in March at 5.6 percent. This is followed by Compostela Valley (4.7 percent), Davao Oriental (3.1 percent), and Davao del Sur (2.2 percent).
"Comparing the year-on-year change for the month of March, all commodity groups increases in prices," said PSA.
The highest increase was recorded for housing, water, electricity, gas, and other fuels at 7.3 percent. This is followed by alcoholic beverages and tobacco (5.5 percent), clothing and footwear (5.1 percent), health (4.4 percent), food and non-alcoholic beverages (3.2 percent), furnishing, household equipment, and routine maintenance of house (3 percent), transport (2.7 percent), education (2.6 percent), restaurant and miscellaneous goods and services (2.2 percent); recreation and culture (1.6 percent), and communication (1.3 percent).
The purchasing power of the peso (PPP) in the region dropped to P0.63 in March 2017 as compared to P0.66 in the same period in 2016. The highest PPP was at Davao del Sur at P0.66, followed by Compostella Valley (P0.63), Davao del Norte (P0.61), and Davao Oriental (P0.61). (RJL)
Published in the SunStar Davao newspaper on May 04, 2017.
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