DAVAO CITY (MindaNews / 15 Nov) – Davao Region has recorded the lowest Consumer Price Index (CPI) among six regions in Mindanao for the first five months of 2016 with 152.46, according to a report by Philippine Statistics Authority (PSA) 11.
The PSA 11 explained that the region’s low CPI for the early part of 2016 means “that the basket commodities which can be purchased at P100 by an average Filipino household during the first-five months of 2016 can be bought by P152.46 after 10 years.”
The CPI is an “indicator of the change in the average retail prices of goods and services commonly purchased by households relative to the base year. It shows how much on the average, prices of goods and services have increased or decreased.”
However, the report also showed the monthly CPI of all commodity items in Davao displayed a fluctuating movement during this period but eventually escalated in the succeeding months.
“However, the percentage change of price index in the first-five months of 2016 (151.7 to 153.6) rose relatively by 1.3 percent, while the percentage change in the same period last year soared only by 0.69 percent. In addition, the average CPI of the first-five months of the current year is slightly higher by three percent compared to the average CPI of last year,” it said.
By commodity group, the alcoholic beverages and tobacco registered the highest index during the early part of the year at 172.68, then education (170.60), and food and non-alcoholic beverages (165.36), and communication (92.70).
The report stated that Caraga Region showed the highest average CPI at 161.72 recorded in the same period, followed by Autonomous Region in Muslim Mindanao (159.44), Zamboanga Peninsula (157.38), Northern Mindanao (153.56), and SOCCSKSARGEN (153.14).
“In terms of commodity items, food and alcoholic/non-alcoholic beverages and tobacco items in the region administered the lowest average price index among other regions in Mindanao. It also revealed that the 171.14 price index in food and alcoholic/non-alcoholic beverages and tobacco in the region is slightly higher as against to price index of non-food items at 135.11,” it said.
The report added that the regions of Zamboanga Peninsula and Caraga posted the most expensive price indices in food and alcoholic/non-alcoholic beverages and tobacco with 200.91 and 198.53, respectively.
In terms of non-food items, Caraga has the highest price index of non-food items prices at 139.93, closely followed by Zamboanga Peninsula (137.38) while ARMM’s minimum price index in non-food items was at 133.53. (Antonio L. Colina IV / MindaNews)