Manila, June 12 -- Davao Region's year-on-year headline inflation slowed significantly to 0.2 percent in May this year, down from 0.5 percent in the previous month, the regional Philippine Statistics Authority (PSA-11) office reported Thursday.

This marks the lowest inflation rate for the region since October 2019 when it registered at -1.3 percent. In May 2024, the region's inflation was higher at 5.3 percent.

PSA-11 attributed the decrease in the region's overall inflation primarily to a slower annual growth rate in the index of housing, water, electricity, gas, and other fuels, which eased to 0.1 percent from 2.4 percent.

The downward trend in regional headline inflation was also driven by faster year-on-year decreases in the indice...