High inflation rate a challenge to Davao Region’s economic recovery, says biz exec

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Market goers flock to the vegetable section of the Bankerohan Market in Davao City on Thursday, 5 January 2023. MindaNews Photo DAVAO CITY (MindaNews / 10 February) – High inflation rate has remain…

Market goers flock to the vegetable section of the Bankerohan Market in Davao City on Thursday, 5 January 2023. MindaNews Photo

“We have a lot of challenges, and one of them is high inflation. If goods are expensive, that means raw materials used in businesses are also expensive. For example, food served at restaurants will be expensive because they buy costly ingredients,” he said. He said the transportation cost is relatively more expensive these days as prices of oil in the world market have gone up due to the conflict between Russia and Ukraine.

Source: News Formal (newsformal.com)

 

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