Davao Region registers 6.0 inflation rate in Sept

DAVAO DEL NORTE, Oct. 22 (PIA) –-- Davao Region’s inflation rate in September 2021 registered at 6.0 percent after soaring at 6.7 percent in July.

The spikes in inflation rates in Davao Region were revealed during the virtual Data Dissemination Forum on Consumers Price Index (CPI) yesterday conducted by the Philippine Statistics Authority (PSA) Region XI.

Presentations and discussions on the inflation rates drawn from the CPI in 2021 were highlighted. In her presentation, Information Officer I, Kathlen A. Aparece of PSA XI defined the CPI and explained its uses.

"Consumers Price Index is the indicator of the change in the average retail prices of a fixed basket of goods and services commonly purchased by households relative to a base year," she said.

"Its common uses are it is the most widely used in the calculation of the inflation rate and purchasing power of the peso and the basis for economic analysis and collective bargaining agreements," Aparece added.

Also presented were the common goods and services in the Davao Region with their inflations rates.

As of September 2021, the inflation rate for transportation is 5.2%; food and non-alcoholic beverages, 9.0%; alcoholic beverages and tobacco, 6.7%; housing, water, electricity, gas, and other fuels, 4.6%; furnishings, household equipment, and routine maintenance of the house, 3.9%; health, 4.0; restaurant and miscellaneous goods and services, 2.9%; communication, 1.1%; recreation and culture, 1.4%; clothing and footwear, 1.8%; and for education, 0.1%. ((PIA XI Davao del Norte/jmda/Ezri M. Coda, Jr.)

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