NABUNTURAN, Davao de Oro January 22 (PIA) – – The inflation rate of the province of Davao de Oro decelerates on December 2024 to 0.8 from 1.6 in November.
During the Online Reporting for the December inflation, Ambraham Enrico Gulay, Jr., chief statistical specialist of the Philippine Statistics Authority in Davao de Oro, stressed that the December 2024 inflation rate is much slower than the same month in 2023, which is at 4.7.
Gulay said that the major factor that contributes 96 percent to the downtrend of the inflation is the slower growth rate of the food and non-alcoholic beverages commodity group.
Among this group, fruits and nuts noted an inflation rate of 1.4 in December compared to 13.7 in November; fish and other seafoods, 4.8 in December from 6.0 in November; and cereal and cereal products, -4.3 in December from -0.2 in November.
Gulay added that the other factor that caused the downtrend is the housing, water, electricity, gas, and other fuel commodity group, which is observed to have slowed from -0.3 inflation rate in November to -0.5 in December. Part of this group is the Electricity that posted an inflation rate of -3.8 in December from -2.5 in November.
As to the Purchasing Power of Peso (PPP) with base year 2018, P 1 in Davao de Oro is equivalent to P 0.77 in December 2024.
In Davao Region, Davao de Oro posted the second slowest in December next to Davao Oriental with only 0.7.
Davao del Sur posted the highest inflation for the month with 3.4, then Davao City with 2.6, Davao Occidental with 2.2, and Davao del Norte with 1.6. (PIA Davao de Oro/mlu)
