DAVAO DEL  NORTE (PIA) -- The February rate of increases in prices of goods commonly bought by low-income households in Davao del Norte is noted to have gained an uptick from negative 1 percent  in Jan. 2024 to 2.4 percent .

Philippine Statistics Authority (PSA) Davao del Norte field office noted that this Feb. 2024 Price Inflation Rate for Bottom 30 percent Income Households in the province was still  below the regional rate at 5.4 percent and the national rate at 4.2 percent.

The kick in  the inflation rate for the bottom 30 percent income households in Davao del Norte was largely due to the fast rate of increase in prices of food and non-alcoholic beverages, contributing 9 percent to the overall computation of  this type of inflation rate.

On food,  PSA noted  that the rate of increases in prices of this particular commodity group spiked from 5.6 percent in Jan. 2024 to 9.5 percent in Feb 2024.

PSA said that the trend in food inflation “was mostly attributed” to the faster rate of increase in the index for fish and other seafood which soared to 3.4 percent inflation rate in February from negative 4.4 percent in Jan. 2024.

However, PSA Davao  del Norte noted some commodities which had not shown an uptick in inflation in February compared in January.

Information and communication posted zero rate of inflation; education  services stayed at 3.2 percent; financial services even slowed down at negative 0.1 percent, while restaurants and accommodation services  also stayed at zero percent.

In his explanation  note sent to Philippine Information Agency (PIA) Davao del Norte Information Center,  PSA Regional Statistical Office XI OIC Regional Director Randolph Anthony B. Gales said  commodity price index (CPI) for “the Bottom 30  percent income households is compiled to measure the changes in prices of commodities commonly purchased by the families that belong to the bottom 30 percent income decile.”

“The families in the low-income  bracket are  the most vulnerable to economic and social difficulties,” he said, noting that monitoring the welfare of these families forms part of the thrust of the government.

Basing on statistical trends, Gales said that majority of the expenditures of households in  the low-income  bracket go to food, and that changes in prices of food are “expected to greatly affect this income group than any other group.” (JMDA/PIA Davao del Norte)