Davao Region’s inflation levels on food and non-alcoholic beverages for July 2022 was pegged at 9.4% as compared to the national food inflation average of 6.9% (for July 2022).
“For the whole of the country pinakamataas ang Davao sa food inflation,” said DA-11 Regional Director Abel James Monteagudo.
He said the high inflation rate of sugar have contributed to the shooting up of food inflation levels in the region.
“Sinilip namin, ang sugar ang nag-pushup sa inflation,” Monteagudo said.
As per data from the Philippine Statistics Authority Davao Region Summary Inflation Report Consumer Price Index, sugar, dessert and other confectionary had a 25.1 % inflation rate.
This is second to oils and fats at 30.8%. Corn came in third at 22.9%. However sugar, desserts and confectionary had a highest inflation increase among the three. Inflation rate of sugar, desserts and confectionary in June 2022 had a 16.3% inflation rate. Corn was 17.9% (June 2022), oils and fats had an inflation rate of 25% (June 2022),
Monteagudo said the factor would be the opening of Davao, particularly its economy after the pandemic.
“Ang tingin namin siguro biglang nag-open ang Davao hindi naka-catch up ang supply kaya tumaas ang presyo. We will verify it in the next few weeks,” Monteagudo said.
Davao Region also reported the highest inflation rate at 8.6% for the period of July 2022, higher than the July 2022 national inflation rate of 6.9%. The July 2022 inflation rate in Davao is higher than the June 2022 inflation rate for the region which registered 7.2%. Food inflation rate in June 2022 was at 7.8%. (PIA/ RG Alama)