In Davao City, the inflation rate for the region’s lowest-earning 30% of households decreased to 0.8% in January from 1.1% the previous month, according to the Philippine Statistics Authority-11 (PSA-11). This figure marks a significant drop from the 3.9% inflation rate seen in January of the previous year. The PSA-11 credits this reduction to a slowdown in the price growth of essential commodity groups. Notably, food and non-alcoholic beverages experienced a deflation of -0.1%, a decrease from December’s 0.4%, and housing, utilities, and fuels saw a deflation of -0.3%, down from 0.7%. Conversely, some sectors saw price increases, such as alcoholic beverages and tobacco, which rose to 3.7% from 3.3%, and clothing and footwear, which increased to 3.3% from 3.2%. Inflation rates for health, education, and hospitality services remained steady at 2.9%, 2.7%, and 5.8% respectively. Food inflation specifically for low-income families also saw a decline, falling to -0.3% from 0.2% in December, a stark contrast to the 8.5% recorded in January of the previous year. This decrease was influenced by falling prices in cereals and cereal products, which dropped to -6.6% from -3.8%, and slower price rises in dairy, fish, ready-made foods, and fruits. These trends indicate a relief in price pressures on essential goods, benefiting the region’s low-income households.
