The regional office of the National Economic Development Authority reported that the inflation rate in Davao Region for the 3rd quarter last 2015 dropped 1.90 percent from the same period in 2014, with 2.13 percentage. (davaotoday.com file photo by John Rizle L. Saligumba)
DAVAO CITY — Davao Region’s average inflation rate for the 3rd quarter last year dropped to 2.13 percent, which was 1.90 percentage points lower than the level recorded in the same quarter in 2014.
In a press release on Monday, March 14, the National Economic Development Authority Region 11 said the quarter-to-quarter analysis also shows that inflation had steadily been easing by an average of 0.3 percentage point between the first and second quarter in 2015; and 0.97 percentage point between the 2nd and 3rd quarter of the same year.
“The deceleration of inflation could be attributed to the downward adjustments in petroleum products and price decreases in food items,” the NEDA said.
In the Region, oil companies reduced prices nine times on gasoline and eight times on diesel and kerosene. The prices of gasoline, diesel, and kerosene were decreased by totals of P2.75 per liter, P3.15 per liter, and P3.40 per liter, respectively, relative to their second quarter levels last year.
Neda also reported that the price of food items including rice, corn, meat, fish and vegetables had considerably “stabilized” due to a sufficient supply of these basic commodities in the market.
“In addition, the higher supply of meat and fish in the market was due to higher production of livestock, poultry and fisheries in the Region during the quarter. For rice and corn, prices remained subdued due to imports that supplemented the regional production,” it added.
Neda added that the costs of health services and medical products, as well as clothing and footwear had also “slightly decreased, compared to the level recorded in same quarter in 2014.”
Meanwhile, the costs of education and communication were “relatively unchanged” compared to their rates last year, said Neda.
On account of this performance, the all-item regional inflation rate for the quarter fell within the range of three percent, plus or minus one percentage point, set for last year by the Development Budget Coordinating Committee (DBCC) of the NEDA Board. (davaotoday.com)
