Business owners worried over high inflation rate in Davao

The high inflation rate in Davao City must be managed to hasten the recovery of the local economy that has been severely affected by the coronavirus disease (COVID-19) pandemic, a business leader s…

The high inflation rate in Davao City must be managed to hasten the recovery of the local economy that has been severely affected by the coronavirus disease pandemic, a business leader said.

“How to lower inflation is going to be the biggest challenge because again when prices go up, the challenge is how to keep your customers buying at the same volume to ensure your own growth,” he said. Based on the Summary Inflation Report Consumer Price Index , the agency said the inflation rate further accelerated from 9.6% reported in September in the region composed of the provinces of Davao de Oro, Davao del Norte, Davao del Sur, Davao Occidental, Davao Oriental, and Davao City.

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