• The November 1999 inflation rate of 3.9 percent is the lowest registered since the rate of 2.0 percent in May 1987. Prices of rice, fruits, vegetables and sugar were lower compared to those a year ago.

 

• November 1999 prices are also compared with those a year ago when inflation was highest for the entire 1998 at 11.3 percent.

CONSUMER PRICE INDEX (1994=100)
NOVEMBER 1999

l By Commodity Group, Year-on-Year

è Inflation in food, beverages and tobacco (FBT) slowed to 0.1 percent in November from 2.8 percent in October. Clothing also decelerated from 4.8 percent from 4.9 percent; fuel, light and water (FLW), 8.2 percent from 8.6 percent; and miscellaneous items, 3.6 percent from 3.9 percent. For housing and repairs (H&R) inflation remained at its October rate of 8.8 percent while an increase was noted for services at 12.1 percent from 11.6 percent.

è In Metro Manila (MM), the rates for FBT, FLW and miscellaneous items were correspondingly lower by 2.3 percentage points, 0.4 percentage point and 0.6 percentage point. On the other hand, services increased by 0.2 percentage point while for clothing and H&R, it was up by 0.1 percentage point.

® For areas outside Metro Manila (AOMM), except for services whose rate increased by 0.8 percentage point, all other commodity groups registered lower rates in November. The rates for FBT decreased by 2.8 percentage points; clothing and miscellaneous items, 0.2 percentage point; H&R, 0.1 percentage point; and FLW, 0.3 percentage point.

• The inflation rate for food alone moved down to 0.3 percent in November from 3.2 percent in October.
• The inflation rate for rice was -0.4 percent from 1.4 percent in October. Except for Western Mindanao and Autonomous Region of Muslim Mindanao (ARMM) whose rates were higher this month, all other regions posted lower rates. The biggest decline was 5.4 percentage points in CARAGA Region.
• Inflation rates went down for cereal preparations, 3.6 percent from 4.0 percent; dairy products, 2.2 percent from 2.4 percent; eggs, 3.2 percent from 4.4 percent; fish, 9.3 percent from 10.0 percent; fruits and vegetables, -5.6 percent from 5.9 percent; meat, 2.8 percent from 3.7 percent; and miscellaneous foods, -6.4 percent from -2.4 percent. A higher rate was noted only in the price of corn, 11.9 percent from 7.9 percent.

l By Region, Year-on-Year

® The inflation rate for Metro Manila declined to 3.1 percent in November from 4.1 percent in October.

® Inflation in AOMM decelerated to 4.4 percent from 5.9 percent. Except for Central Visayas and ARMM where inflation rates were correspondingly higher by 0.5 percentage point and 1.0 percentage point, all the other regions posted lower inflation rates. The biggest decline was in Cagayan Valley at 3.3 percentage points followed by the Cordillera Administrative Region (CAR) at 3.0 percentage points. Central Luzon recorded the lowest inflation rate at 2.4 percent while ARMM posted the highest rate at 9.0 percent.

l By Commodity Group, Month-on-Month

• Month-on-month inflation rates for all commodity groups were lower in November except for miscellaneous items whose rate increased to 0.3 percent in November from 0.2 percent in October and clothing which remained at 0.2 percent. FBT slowed down to -0.2 percent from -0.1 percent; H&R, 0.2 percent from 0.3 percent; FLW, 0.9 percent from 1.5 percent; and services, 1.1 percent from 1.6 percent.
• The price of rice further declined to -1.5 percent this month from -1.0 percent last month brought about by the harvests. Except for ARMM whose rate increased to 1.2 percent from -0.3 percent in October, all the other regions registered either slowdowns or declines in November. The lowest rate was observed in Southern Mindanao at -3.6 percent while ARMM recorded the highest rate at 1.2 percent. In MM, the price of rice rose to 0.2 percent from -0.2 percent in October.
• Corn prices in the Philippines and AOMM increased to 1.1 percent and 1.3 percent respectively in November which were lower from their corresponding October rates of 2.6 percent and 2.1 percent. However, in MM, it declined to -6.6 percent from 28.3 percent last month.
• Prices of cereal preparations in MM decreased to -0.1 percent from 0.8 percent as flour, bread and biscuit were priced lower during the month. In AOMM, the rate slowed down to 0.3 percent from 0.5 percent.
• Prices of dairy products in MM and AOMM slightly grew to 0.2 percent and 0.1 percent respectively from their corresponding rates of 0.1 percent and zero growth last month. This resulted to a 0.1 percent increase in the Philippines, the same rate posted in October.
• The index for eggs decreased in the Philippines, -0.6 percent from -0.4 percent; and MM, -2.5 percent from -1.0 percent while that in AOMM slowed down to -0.1 percent from -0.2 percent.
• Prices of fish in MM went up to 0.1 percent and in AOMM, 0.5 percent resulting to a 0.4 percent growth in the national index.
• Substantial deliveries of fresh vegetables reaching various MM wet markets accounted for the reduction in the prices of vegetables. The fruits and vegetables index in the area declined by -1.2 percent from -0.1 percent and in the Philippines, -0.1 percent from 0.2 percent. In AOMM, the index remained at its October 1999 rate of 0.3 percent.
• Lower prices of beef, chicken and pork caused the MM meat index to further decline by -0.6 percent while prices of meat remained stable in AOMM as it posted a zero growth. This pushed down the national index by -0.2 percent.
• Prices of coffee, powdered tonic drink, patis, garlic, tea, ginger, and margarine increased in November. The miscellaneous foods index went up to 0.1 percent in the Philippines and AOMM from -0.1 percent last month. In MM, prices of miscellaneous foods moved down to -0.1 percent from -0.2 percent in October.
• Prices of meals eaten outside increased to 0.2 percent in the Philippines and AOMM while MM posted zero growth.

® The MM index for services went up to 0.9 percent from 1.4 percent last month while AOMM registered a 1.2 percent increase which was slower than 1.7 percent in October. This resulted to a 1.1 percent increase in the national index, which was slower than 1.6 percent last month. This was brought about by the increase in the prices of medicines, school supplies, gasoline, diesel, engine oil, transport fares and other household and personal services.

® The FLW index in AOMM decelerated to 0.6 percent from 1.6 percent last month while it increased in MM to 1.3 percent from 1.2 percent resulting to a slowdown of 0.9 percent from 1.5 percent in the national level. This developed even with the increases in the prices of LPG, kerosene, firewood, charcoal, and electricity consumption in many regions along with higher purchased power adjustment (PPA) and currency exchange rate adjustment (CERA) for electricity in MM.

® Prices of miscellaneous items went up to 0.3 percent from 0.2 percent last month in the Philippines and AOMM and 0.4 percent from -0.2 percent in MM. This resulted from the increases in the prices of selected items for household operations like broom, cleanser, detergent soap and floor wax.

® The H&R indices for the whole country and AOMM increased correspondingly by 0.2 percent and 0.3 percent. These were slower than their respective October rates of 0.3 percent and 0.5 percent. In MM, the index moved at its previous month's rate of 0.1 percent. This was brought about by the higher rental rates in many regions including MM in addition to the increase in the prices of selected construction materials like cement, lumber, common wire nails, electrical wires and G.I. pipe.

® The clothing index increased to 0.3 percent and 0.2 percent, respectively in MM and AOMM. This was brought about by the increase in the prices of footwear, ready-made-apparel such as undershirt, T-shirt, pants, and underwear along with the price mark-ups in thread and higher sewing charges in many regions.

l By Region, Month-on-Month

• Prices in MM increased to 0.2 percent in November from 0.3 percent in October. The FBT rate was lower by 0.1 percentage point as well as services, by 0.5 percentage point while H&R retained its October rate at 0.1 percent. All other commodity groups recorded higher month-on-month rates. Clothing was higher by 0.4 percentage point; FLW, 0.1 percentage point and miscellaneous items, 0.6 percentage point.
• In AOMM, prices slowed down to 0.1 percent in November from 0.3 percent last month. All the commodity groups recorded lower month-on-month rates except for miscellaneous items whose rate was higher by 0.1 percentage point. FBT and H&R were lower by 0.2 percentage point; clothing, 0.1 percentage point; FLW, 1.0 percentage point; and services, 0.5 percentage point. Among the regions, the general movement of prices was lowest in CARAGA Region at -0.5 percent while the highest rate was registered in ARMM at 1.1 percent.