• The year-on-year inflation rate in December was 4.3 percent compared to 10.4 percent a year ago and 3.9 percent in November 1999. The last time that inflation was also lower than 4.3 percent was in June 1987 (4.0%).

 

• The average annual inflation rate for 1999 was 6.6 percent compared to 9.8 percent for 1998. Prior to this, inflation was only lower for 1997 (5.9%) and for 1987 (3.0%).

CONSUMER PRICE INDEX (1994=100)
DECEMBER 1999

l By Commodity Group, Year-on-Year

è The rates for services increased to 12.7 percent in December from 12.3 percent in November; food, beverages and tobacco (FBT), 0.6 percent from 0.1 percent; clothing, 4.9 percent from 4.8 percent; and miscellaneous items, 3.8 percent from 3.6 percent. For housing and repairs (H&R) and fuel, light and water (FLW), inflation remained at their corresponding November rates of 8.8 percent and 8.2 percent.

è In Metro Manila (MM), the rates for FBT, FLW and miscellaneous items were higher by 0.1 percentage point; clothing, 0.4 percentage point; and services, 0.6 percentage point. In contrast, inflation for H&R was down by 0.4 percentage point.

® For areas outside Metro Manila (AOMM), except for FLW whose rate declined by 0.1 percentage point, all other commodity groups registered higher rates in December. The rates for FBT grew by 0.6 percentage point; clothing, 0.1 percentage point; H&R and services, 0.2 percentage point; and miscellaneous items, 0.3 percentage point.

• The inflation rate for food alone moved up to 0.8 percent in December from 0.3 percent in November.
• The inflation rate for rice went up to 0.7 percent from -0.4 percent in November. Except for Cordillera Administrative Region (CAR) and Southern Tagalog, all other regions posted higher rates. The biggest increase was 3.7 percentage points in Central Mindanao.
• The inflation rates for dairy products increased to 2.3 percent from 2.2 percent and miscellaneous foods, -4.0 percent from -6.4 percent. Lower rates were recorded in the prices of corn, 11.4 percent from 11.9 percent; cereal preparations, 3.3 percent from 3.6 percent; eggs, 2.9 percent from 3.2 percent; fish, 8.7 percent from 9.3 percent; fruits and vegetables, -6.7 percent from -5.6 percent; and meat, 2.5 percent from 2.8 percent.

l By Region, Year-on-Year

® The inflation rate for Metro Manila remained at 3.1 percent.

® Inflation in AOMM rose to 4.7 percent in December from 4.4 percent last month. Except for Southern Mindanao and CARAGA whose rates slowed down, all other regions recorded higher rates. The biggest increment was noted in Central Visayas at 1.0 percentage point followed by Western Mindanao and Autonomous Region of Muslim Mindanao (ARMM) at 0.8 percentage point. ARMM still posted the highest inflation rate at 9.7 percent while the lowest remained in Central Luzon at 2.8 percent.

l By Commodity Group, Month-on-Month

• Month-on-month inflation rates for FBT went up by 0.2 percentage point and H&R, by 0.1 percentage point. Inflation in FLW and services slowed by 0.7 percentage point and miscellaneous items, by 0.1 percentage point. The rate for clothing remained at 0.2 percent.
• The price of rice went up to 0.1 percent in December from-1.5 percent the previous month. Nine regions registered increases. The highest rate was posted in Cagayan Valley and Central Visayas at 1.7 percent while CAR recorded the lowest rate at -1.7 percent.
• Corn prices in the Philippines, MM and AOMM decreased in December to -0.6 percent, -16.6 percent and -0.3 percent, respectively from their corresponding rates of 1.1 percent, -6.6 percent and 1.3 percent last month.
• Prices of cereal preparations in MM had zero growth while the rate in AOMM remained at 0.3 percent. This resulted to a 0.2 percent increase in the Philippines brought about by the increase in the prices of flour, noodles, bread and native cakes.
• The dairy products index in the Philippines slightly grew by 0.2 percent in December from 0.1 percent in November. In MM, the inflation rate for dairy products increased to 0.1 percent from 0.2 percent while inflation for AOMM remained at 0.1 percent.
• Prices of eggs in AOMM went up by 0.2 percent from -0.1 percent in November while those in MM and in the Philippines decreased to -0.8 percent and -0.1 percent, respectively. These rates were higher than their corresponding rates of -2.5 percent and -0.6 percent in November.
• Fish prices in MM increased by 2.8 percent from 0.1 percent last month. This pulled up the national index by 0.6 percent even as fish prices in AOMM slowed down to 0.1 percent from 0.5 percent in November.
• The index for fruits and vegetables decreased in the Philippines, -1.3 percent from -0.1 percent; MM, -2.5 percent from -1.2 percent; and AOMM, -0.9 percent from 0.3 percent.
• Prices of meat remained stable in the three areas with zero growth in December.
• Prices of sugar, ginger, calamansi and coffee went down in December. The miscellaneous foods index declined by 0.1 percent in the Philippines and by 0.2 percent in AOMM from 0.1 percent in November. In MM, prices of miscellaneous foods remained stable with zero growth during the month.
• Prices of meals eaten outside increased at a slower rate of 0.1 percent in the Philippines and AOMM while MM posted zero growth.

® Increases in the prices of medicines, gasoline and diesel along with higher movie admission fee, laundry and medical charges caused the services index to increase: 0.5 percent in the Philippines and AOMM, and 0.4 percent in MM. These rates were lower than their corresponding November rates of 1.2 percent, 1.3 percent and 0.9 percent.

® The H&R index in the Philippines increased by 0.3 percent from 0.2 percent last month. This was due to the increases in the prices of selected construction materials such as cement, hollow blocks, lumber and bamboo pole along with higher rental rates in many provinces.

® Clothing indices in AOMM rose to 0.3 percent from 0.2 percent last month. In MM, the index also increased to 0.1 percent, slower than the 0.3 percent last month. And the rate of 0.2 percent in November remained for the Philippines in December. This was brought by the mark-ups in the prices of footwear, ready-made apparel along with higher sewing charges in many regions.

® Increases in the prices of LPG, charcoal and kerosene along with higher rate for electricity consumption in most of the regions caused the FLW indices in the Philippines and AOMM to increase at 0.2 percent and 0.4 percent, respectively. These rates were lower than their corresponding November rates of 0.9 percent and 0.6 percent. In MM, the FLW index posted zero growth.

® Miscellaneous items posted an increase of 0.2 percent. This was brought about by the mark-ups in the prices of detergent bar and powder, sanitary napkin, cleansing cream, razor blade, electric fan, insecticide, floor wax, battery and baby powder.

l By Region, Month-on-Month

® Prices in MM increased to 0.1 percent in December from the 0.2 percent posted in November. Clothing slowed down to 0.1 percent from 0.3 percent; services, 0.4 percent from 0.9 percent; and miscellaneous items, 0.2 percent from 0.4 percent. FBT, H&R and FLW registered zero growth in December.

® In AOMM, prices moved by 0.1 percent. Higher rates were recorded in the prices of clothing, 0.3 percent from 0.2 percent; and H&R, 0.5 percent from 0.3 percent. Meanwhile FLW slowed down to 0.4 percent from 0.6 percent; services, 0.5 percent from 1.3 percent; and miscellaneous items, 0.2 percent from 0.3 percent. FBT posted zero growth in December from -0.3 percent a month ago. Eight regions posted higher rates in December with the highest rate recorded in Cagayan Valley at 0.7 percent while the lowest rate was registered in Ilocos at -0.7 percent.