Davao Region has highest RP inflation rate at 4.7% in 2009

DAVAO CITY, Feb. 9 – The National Economic Development Authority (NEDA) has posted Region 11 an inflation rate of 4.7 percent, the highest among other regions in the country.

NEDA assistant regional director Bonifacio Uy, however, expressed fears the high inflation rate would pave the way for public clamor for wage adjustments.

“Region 11’s inflation rate is high than other regions. This might lead to a claim for a wage hike,” Uy said.

He, however, clarified that the figures will not give merit for a wage adjustment.

“I am not saying these figures will justify for a wage adjustment,” he said.

He still described the region’s inflation rate as moderate compared to 2008 at 10.22 percent.

NEDA regional director Ma. Lourdes Lim, for her part, has projected inflation rate to rise during the first quarter of 2010 due to elections-related spending.

Lim said the expected inflation growth is seen to boost the region’s economy in the light of more opportunities for entrepreneurs particularly the media sector.

“Notwithstanding the elections, NEDA 11 still remains optimistic the region’s inflation rate will remain below five percent,” she said. (PNA)

LDV/JGQ/lvp

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