He also called on Congress to repeal the value added tax (VAT) and expanded VAT to help bring the prices of basic commodities.
Davao Region reported the lowest inflation rate among the six regions in Mindanao as it further eased to 3.9% in August from 4.3% in July, according to the Philippine Statistics Authority (PSA).
The region’s inflation was below the national average, which stood at 5.3% in August.
Of the commodity groups, the agency reported that the slowdown was driven by a significant drop in the cost of “housing, water, electricity, gas, and other fuels” with -2.[]
4% in August from 4.2% in July; education services with 3.9% from 6.8%; and furnishings, household equipment and routine household maintenance with 6% from 6.1%.
Slight jump was noted in the prices of food and non-alcoholic beverages, increasing to 6% in August from 5.3% in July; clothing and footwear with 5.9% from 5.7%; information and communication with 1.[]
