DAVAO CITY, February 8 (PIA) – The National Economic Development Authority XI (NEDA XI) presented Davao Regions’ Development Outlook for the year 2022. During the One Davao Virtual Presser, NEDA XI Regional Director Maria Lourdes Lim bared that the prices of basic commodities are expected to remain at elevated levels. The inflation target of the Bangko Sentral ng Pilipinas (BSP) for this year is between 2 to 4%. The average annual inflation rate in 2021 was at 4.6%. “ By commodity group, there was a broad-based acceleration of prices for all 11 major commodities in 2021, driven mostly by higher prices in transport (7.6%), food (5.6%), alcoholic beverages and tobacco (7.2%), and housing , water, electricity, gas, and other fuels (4%)." However, more investments are expected to be generated this year with the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law. Lim cited the CREATE law as it has the provision for lower corporate income tax (CIT) rate and it aims to ...